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.