Tahoe Donner 3rd QTR 09 Market Update

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Tahoe Donner Consecutive Quarter Sales Analysis
(A Glimpse at this past Year)

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This chart illustrates:
1) Number of Single Family Homes Sold in Tahoe Donner 3rd QTR 2008 through 3rd QTR  2009
2) Comparison of Median List Price to Median “Sold” Price of Homes Sold in Tahoe Donner 3rd QTR 2008 through 3rd QTR  2009

The Quarterly data suggests:

• Median “SOLD” prices have decreased 21% when comparing 3rd QTR 2008 ($665,500) to 3rd QTR 2009 ($525,000).
• Comparing same time this year with same time last year, 3rd QTR sales are up 19%. 54 homes sold during the 3rd QTR of 2008 while 64 homes sold during the 3rd QTR of 2009.
• Comparing consecutive quarters in 2009, Single Family Home sales have increased 33% from QTR 2 ‘09 (48 homes sold) to QTR 3 ‘09 (64 homes sold).
• Summary: PRICES are DOWN and SALES are UP. We have seen an increase in sales this past month. There are several contributing factors including, 1) market savvy Realtors and their sellers are getting better at pricing for the current market, 2) buyers are taking advantage of good inventory and low interest rates, 3) well versed buyers working with good Realtors recognize “good opportunities” and are writing stronger offers and 4) Tahoe Donner home sales typically pick-up at this time of the year as buyers make their purchases before the snow falls.
  

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Tahoe Donner 3rd QTR Sales Performance 2004 – 2009
(The Bigger Perspective – The Last 5 Years)

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This chart illustrates:
1) Number of Single Homes Sold during the 3rd QTR from 2004 through 2009.
2) Comparison of Median List Price to Median “Sold” Price for the 3rd QTR from 2004 through 2009.

The sales data for Tahoe Donner single family homes shows us:

• Current single family home ”SOLD” prices are similar but slightly lower than they were in 2004.
• Since the top of the market, in 2005, single family home “SOLD” prices have dropped 32%. This means there are great opportunities.

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, NOW IS THE TIME TO BUY. Call us today: 530-412-0583!

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! It’s not too late. Inventory is getting snapped up and new inventory is always great. The Buyers are out there!

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Price Category Comparison of Homes Sold

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This chart illustrates:
1) Number of Single Family Homes Sold QTR 3 in Tahoe Donner
2) Comparison of Price Categories of Homes Sold in Tahoe Donner

64 single family homes sold in Tahoe Donner during the 3rd quarter of 2009. 

• 85% of these homes sold for under $750K (54 homes)
• 12% of the homes sold for between $750K and $1 million dollars (8 homes)
• Zero homes sold for between $1 million dollars and $1.25 million dollars
• 3% (or 2 homes) sold for between $1.25 million and $1,499,999
• Zero homes sold in the price category exceeding $1,500,000

* Well priced single family homes under $750K are getting the most attention. If you are in the “over a million” category, you’ve got to be very strategic about your pricing.

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 at karen@huntoonrealestate.com or give us a call at 530-412-0583.