Tahoe Donner 2nd QTR 09 Market Update

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Tahoe Donner 2nd QTR 2009 Sales Analysis

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This chart illustrates:
1) Number of Homes Sold during the 2nd QTR from 2004 through 2009.
2) Comparison of Median List Price to Median Sold Price for the 2nd QTR from 2004 through 2009.

The sales data for Tahoe Donner single family homes shows us that home sale prices right now are similar to sale prices in 2004 (before we hit the top of the market in 2005). However the number of homes sold, when comparing 2004 to 2009, shows a decrease of 50% .  For example,  94 single family homes sold in the 2nd QTR of 2004 compared to 47 in 2009!

What do these numbers tell us?

Buyers – now is the time to get serious. Prices are low, interest rates are low and there is good inventory. If you are in the position to purchase property, there are great opportunities.

Sellers- if you need to sell, now more than ever, you need to price your home for the current market and you have to get the price right, right from the start! If you price too high, you’ll get skipped over and you’ll spend your time making price reductions when you could have sold your house!

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Price Category Comparison of Homes Sold

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This chart illustrates:
1) Number of Homes Sold QTR 2 in Tahoe Donner
2) Comparison of Price Categories of Homes Sold in Tahoe Donner

48 single family homes sold in Tahoe Donner during the 2nd quarter of 2009. 75% of these homes sold for under $750K (36), 17% of the homes sold for between $750K and $1 million dollars (8), 6.25 % sold for between $1 million dollars and $1.25 million dollars (3).  2% (or 1 home) sold for $1.25 million and there have been no sales in Tahoe Donner, during the 1st & 2nd Quarters of 2009, that have exceeded $1,250,000.  Well priced homes under $750K are getting the most attention.

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Tahoe Donner Consecutive Quarterly Comparisons

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This chart illustrates:
1) Number of Homes Sold in Tahoe Donner 2nd QTR 2008 through 2nd QTR  2009
2) Comparison of Median List Price to Median Sold Price of Homes Sold in Tahoe Donner 2nd QTR 2008 through 2nd QTR  2009

The Quarterly data suggests that on average there is a 4% difference between the most recent Median List (or asking price) Price and Median Sold Price. In a Buyers Market, we would expect to see properties selling for less than the asking price.

The graph also shows us that Quarterly sales are down 4% when compared with the same time last year (2nd QTR 2008 and 2nd QTR 2009), however; sales have increased 28% from QTR 1 to QTR 2 in 2009. We expect stronger sales in July, August and September. Let’s hope this is a trend!

If you are a buyer or a seller or just have questions, we would love to talk with you. We are easy to get a hold of. Send us an email, karen@huntoonrealestate.com or give us a call at 530-412-0583.