The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through April ‘10.
Figure 1. Tahoe Donner Single Family Home Sales - Note seasonality of sales
Single Family home sales in April '10 continue to outpace the last 2 year's sales for April. This is significant since sales in Tahoe Donner are extremely seasonal. The net-net is that for a true picture of the market activity one must look at seasonality throughout the year. So, based on seasonality one can expect that sales will continue to rise through the fall - assuming we have enough inventory to sell!
Inventory (# of listings) is still very low. The very strong sales late last year reduced the number of available homes for sale and the remaining inventory has really been picked over. Low inventory and strong demand will obviously help to put some upward bias on home pricing.
Inventory is low at 89 homes on the market, up from 73 last month. When you consider we have over 5100 homes in Tahoe Donner this is approximately 1.7 % of the homes in TD. Based on historical data we could expect the inventory to climb as we get into the summer and fall selling season. Inventory typically rises this time of year because of the Ski Lease properties coming off lease and some owners deciding to list their properties.
Average Days on market (DOM) increased significantly to 128 from 86 days - which looking at theBo above graph seems slightly above average for the last few years.
Single family home sales were 22 homes, up from 13 last month. As mentioned previously, based on seasonality data for the last couple years we can expect to see home sales rising through the summer and fall. Be aware that quarter-to-quarter sales comparisons may not make a lot of sense due to the seasonality of home sales in Tahe Donner.
I would expect to see the home builders start to come out of hibernation due to the low inventory. A consequence of this is that demand for buildable lots should show an increase now as we enter the spring building season.
Figure 2. Tahoe Donner Single Family Home Median and Average Home Price
One important change that started in Jan of '09 is that Average and Median prices had a significant downturn - see Figure 2. However, one can see that the average and median prices have stayed fairly constant since Jul of ‘09. This is a good trend and could be construed as a sign that the Tahoe Donner single family home market is healthy.
One factor that affects this price curve is that we have a dearth of high end new home construction activity in Tahoe Donner. This will tend to keep SF home pricing a bit lower until we get some additional high end construction activity.
I hope this data, presented in this form was useful to you. For an instant update, or a discussion about condos/townhomes, please call me and I'll be pleased to provide you with the most recent data available. 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 see the "raw" data. I also have sold price vs. listed price data - this is very helpful if you are considering selling or buying a home - call me for a copy of this data.
Gary LaBelle, Realtor