Tahoe Donner Real Estate Closings | Truckee Real Estate, Tahoe ...

Tahoe Donner Real Estate ? Sep? 2012

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The following Figure shows Tahoe Donner Homes Single Family Home activity from Jan 2008 through Sep 2012.

The data is obtained from the Tahoe MLS published data. Note, this data is for single family homes only ? contact me for data on Tahoe Donner Condos, Lot Sales or data for other Truckee or Lake Tahoe areas.?

Tahoe Donner is a great area to study for market activity since it is has over 5000 homes and therefore presents a large database for meaningful statistical analysis. Home prices vary from roughly $300K to over $1.5M and ages range from brand new to over 30 years old.

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Tahoe Donner Single Family Home Closings ? Jan ?08 to Sep ?12

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Tahoe Donner Homes ? Sep ?12 Closings

Single Family home closings in Sep ?12 were 23 homes compared to 26 last month and 27 the month before. Note that sales in Tahoe Donner are extremely seasonal and year to year comparisons are significant to get a valid picture of typical sales activity.

Regarding other activity, there are 3 pending, 39 contingent and 11 active contingent short sales with offers in the works. We can expect an increased level of closings for the rest of the year. From a seasonality point of view Jan is typically the slowest month of the year with increasing sales through the rest of the year. Keep in mind the difference between closings and when the contract is signed can be 4-8 weeks for open and close of escrow for standard sales and longer for short sales and REOs.

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Tahoe Donner Homes ? Inventory?

The number of Single Family listings was 84 listings at the end of Sep, down from 108 in Jul up from and 129 in Jun. When you consider we have approximately 5000 single family homes in Tahoe Donner, inventory continues to be very low ? ?only 1.7% of the homes in TD. Inventory for this time period, Sep, is lower than the last 4 years ? should result in rising prices.

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Tahoe Donner Homes ? Days on Market (DOM)

Average Days on Market (DOM) was 114 days, which increased from 55 days last month. This is due to reduced inventory and therefore some homes selling that have been on the market for months.

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Tahoe Donner Single Family Home Median and Average Home Price ? Jan ?08 to Sep ?12

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Tahoe Donner Homes ? Average and Median Prices

Average price was $581K and the median price was $520K.

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Average Price per Sq Ft

Average price per sq ft was $243 in Sep.

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Sold Price vs. Last Listed Price

Historic average sold to last list price tends to be 94 to 96% of last listed price. In Sep it was 96% ? buyers are paying a bit closer to listed price. So, when you are buying or selling keep this average number in mind.

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Tahoe Donner Real Estate ? Single Family Home Closings ? Jan 2010 through Sep 2012

So, what?s the net-net of this picture for home prices in Tahoe Donner? Firstly, the low end home sales are still active ? especially in Sep with 35% of sales being for homes less than $500K and 74% being <$700K. Sales for <$900K homes were notably strong in Sept ? 22% of the total.

I also looked at change in price per sq ft for the various price bands. See my blog at http://truckeehome411.com/blog/ for a post about Tahoe Donner distressed sales analysis to see that the low end sales are where the distressed home activity is significant.

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Cash buyers are still out in force ? 10 of the 23 sales were all cash deals (43%) ? investors are active.

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I hope this data, presented in this form was useful to you. MLS data is available and I encourage the buyer or seller to study the data and arrive at their own conclusions before making a buy or sell decision. Contact me if you would like to discuss these results or see additional data. Prices per sq ft can be a big issue and needs to be understood. This figure of merit for a home has been relatively well behaved for high end homes and very volatile for homes less than $500K, where distressed sales are significant. Call me if you have questions about this.

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Gary

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Source: http://www.truckeehome411.com/tahoe-donner-real-estate-3/?utm_source=rss&utm_medium=rss&utm_campaign=tahoe-donner-real-estate-3

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