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February Tahoe Donner Update

11 homes sold in Tahoe Donner last month (February 2010). This makes a total of 21 single family homes that have sold in Tahoe Donner for 2010. The least expensive home was a bank owned property that sold for $238K. There was 1 short sale property that sold for $459K. The most expensive home sold for $985K. The average home sale price for last month was $571,454 and the median was $505K. We are continuing to see the most activity in the $500K-$700K price range in Tahoe Donner. The average days on market was 127 days. There are currently 82 single family homes listed in Tahoe Donner. There are 16 short sale listings and 1 listing is an REO. 23 homes are in escrow (up from 14 last month). This puts the absorption rate at 28% and there is about 3 1/2 months supply of inventory remaining in Tahoe Donner. Click on the link for current homes for sale in Tahoe Donner.

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January Update for Tahoe Donner

10 single family homes sold in Tahoe Donner during the month of January 2010. This is an increase compared to January of 2009 with only 9 homes selling last year. The least expensive home sold for $279K and the most expensive home sold for $750,000. The average days on market for these sold homes was just 39 days. The average sales price was $482,010 and the median sales price was $430,000. 83 single family homes are now listed in Tahoe Donner. 14 are short sales and 2 are bank owned. 14 homes are currently under contract. This puts the absorption rate at 17% and there is just over 6 months of inventory still on the market in Tahoe Donner. Click on the link for current homes for sale in Tahoe Donner.

Lake Tahoe & Truckee January Real Estate Sales Stats

48 single family homes sold in the Tahoe/Truckee area during the month of January 2010. Once again, the most activity was in the $300K-$499K price range with 25 homes selling. 6 homes sold for $299K and under, 8 for $500K-$699K, 3 in the $700K-$899K range, and 3 in the $900K-$1,199K. 3 homes sold for over $1 million - 2 in Lahontan and 1 on the North Shore. 17 condos sold last month as well.

This information was taken from our local multiple listing service and is for the dates of January 1-31, 2010. Click on the image below for an enlarged version of the chart.

Tahoe/Truckee Real Estate Year End Stats 2009

The following charts show some of the 2009 year end stats for the real estate market in Tahoe and Truckee.

The first chart compares some of the sold numbers from 2008 to 2009. The first page shows sales volume for single family homes & condos, the second page shows median & average price and the third page shows units sold. For single family homes, there was a 2% decrease in the sales volume. Condos saw a 16% decrease.

The second charts break down the numbers by price banding  and area. The areas included are Incline Village, East Shore Lake Tahoe, Truckee, Tahoe City, South Lake Tahoe, Reno, Sparks, and Carson Valley. In most areas, the majority of home sales was in the lower price range.

Click on the images below for enlarged versions of the graphs.

December Update for Tahoe Donner

There are still lots of homes selling in Tahoe Donner. In fact, there seem to be hardly enough homes on the market as inventory keeps going down and homes keep selling! Another 35 single family homes sold in Tahoe Donner during the month of December 2009. The least expensive home sold for $296K and the most expensive home sold for $1,327,950. The average days on market for these sold homes was 99 days (123 days for November 2009). The average sales price was $667,027 ($604,790 for November 2009). 227 single family homes sold in Tahoe Donner for 2009. 75 homes are still listed (very low number for Tahoe Donner). 20 homes are currently under contract. This puts the absorption rate at 27% and there is just under 4 months of inventory still on the market in Tahoe Donner. There are still some great deals on homes in Tahoe Donner!

Lake Tahoe & Truckee December Real Estate Sales Stats

Lots of activity with home sales in the Tahoe/Truckee area! 93 homes sold in December 2009! The most activity last month was in the $300K-$499K price range with 33 homes selling. 9 homes sold for under $299K, 24 for $500K-$699K, and 18 for $700K-$899K. There was more activity in the upper end price range with 9 homes selling for over $1 million! The well priced homes, especially in the lesser price range, do not seem to be lasting on the market for very long!

This information was taken from our local multiple listing service and is for the dates of December 1-31, 2009. Click on the image below for an enlarged version of the chart.

Real Estate Monthly Update for Tahoe Donner

The real estate market in Tahoe Donner is doing well! There were 15 homes that sold in November 2009. The lowest priced home was $300K and the highest price home was $1.2 million. The average was $604,790 and the median was $535K. The average days on market was 123 days. There are now 192 homes that have sold in Tahoe Donner year to date. There are 95 homes that are still for sale in Tahoe Donner and 35 are in escrow. This puts the absorption rate at 37% which is phenomenal! There is just over 2 1/2 months of inventory still on the market in Tahoe Donner. An average or “healthy” market is around 6 months of inventory, so these numbers are outstanding! There are lots of buyers just waiting for that good deal and when it comes on the market, it doesn’t seem to last long.

Lake Tahoe & Truckee November Real Estate Sales Stats

82 more homes sold during the month of November 2009! There were also 19 condos and 15 “other” types of properties in the area that sold. We are still seeing the most activity in the $500K and under price range. 9 homes sold for under $299K, 34 for $300K-$499K, 14 for $500K-$699K, and 9 for $700K-$899K. More good news is that there were 16 homes that sold for over $1 million! We hadn’t seen much activity in this price range for the majority of the year but are just starting to see more homes selling in this higher price range. 3 homes sold for over $3 million which is also very positive news!

This information was taken from our local multiple listing service and is for the dates of November 1-30, 2009. Click on the image below for an enlarged version of the chart.

Lake Tahoe Activity Stats

An agent in our office just put together some very interesting charts showing activity stats for the Lake Tahoe and Truckee area. According to the numbers displayed on these charts, Lake Tahoe may have reached its bottom!

After a dramatic five year slide sales volume appears to be bottoming out.

In the first 3 quarters of  2004 there were 1,282 home transactions in the Tahoe Sierra MLS.  Since that time we have seen transactions slide to 649 for the same three quarters in 2009.  However, as shown in the second graph, the 3rd quarter of 2009 saw a significant increase over 2008’s 3rd quarter. I predict this trend will continue and 2009’s total transactions will exceed 2008’s.  This will be the first increase of yearly transactions in five years. 

 

Transaction volume is one of the main “health” indicators of the housing market.  As transactions increase it implies that more buyers are entering the market.  As this trend continues, prices will begin to feel upward pressure.  It may be too soon to call this the bottom of the market as distressed properties continue to influence pricing.  However, in the future we may look back to the third quarter of 2009 and call it the beginning of the Tahoe/Truckee housing recovery.

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