Rebekah Schroeder

There was lots of sales activity in Tahoe Donner again this week. 7 homes and 1 condo went into escrow. 3 properties were under $370K, 3 were in the $600K range, and 1 was over $1 million. There are now 33 single family homes under contract in Tahoe Donner. 16 new homes came on the market in Tahoe Donner this week for a total of 174 active single family homes. 4 homes sold this week - one for $770K, one for $850K, one for $975K, and one for $1,194,500. The average list to sales price was 97%. The average days on market was 79 days. The absorption rate for listed homes in Tahoe Donner is 19% and there is currently just over 5 months of inventory remaining. We will see some homes come on off the market in the next couple weeks and months that will be turned into ski leases. This is good news for the homes that stay on the market because there will be less competition with inventory. If buyers are looking for more properties to chose from, they may want to act soon while there is still so much on the market! For more info on Truckee Real Estate click here.

Tons of activity in Tahoe Donner this week! 12 homes and 1 condo went into escrow! There is now a total of 32 single family homes in escrow in Tahoe Donner. We have consistenly seen around 20-23 homes in escrow at any given time for this whole year, but this is quite a jump! The majority of the homes that went pending were in the $350K range to $600K range but there were 2 in the $800K-$900K range and 2 over $1 million. 2 homes closed this week - one for $312K, and the other for $598K. The average list to sales price was 86%, the and the average days on market was 68 days. 6 new homes came on the market this week and there is now a total of 166 single family homes currently listed. The absorption rate for homes in Tahoe Donner is 19% (way up from past weeks) and there is still around 5 months of inventory remaining (actually under average for a normal market). There are still some incredible values for homes in Tahoe Donner that we probably won't see on the market for much longer. Once again, the homes that are priced well seem to be going very fast! One home in Tahoe Donner was only on for a couple days before it was scooped up immediately! More info on Truckee real estate.

Sales in the Tahoe & Truckee markets were up 5% from last August. 63 single family homes sold in August 2008 compared to 60 homes that sold last year. 18 condos sold this month and 6 properties categorized as "other." There was much activity in the lower end again this month, specifically in the $300,000 to upper $600,000 price range.

There are currently 1173 single family homes listed in the Tahoe/Truckee area. This number is down a little from the 1190 homes listed at the end of last month. 343 condos are currently listed and 175 "other" properties. Last year at this time, there were 1124 single family homes listed in the Tahoe/Truckee area. 12 of these properties are listed as contingent short sales. The average listed price is $1,267,609 (up 1% from last month) and the median listing price is $789,000 (also up 1% from last month). The average days on market is 153 and the median days on market is 106 days. There are currently 89 single family homes in escrow (up 9% from last month). The absorption rate for the homes listed is about 7.5% (up 10% from last month). This means that 92.5% of homes currently listed in our MLS are failing to sell. There is about 13 months of inventory remaining for Tahoe/Truckee homes.

Homes in the $500K and under price range saw some of the most activity this month with 24 homes selling. The average sold price was $369,379 and the median price was $417,500. The average list to sales price was 96%. There are still 263 active listings for sale in this price range. 32 homes are under contract which puts the absorption rate at about 12%. There is still around 8 1/2 months of inventory remaining in the $500K and under price range.

17 homes sold in the $500K to $700K price range. The average sold price was $645,129 and the median was $650,000. The average days on market for homes in this price range was 105 days. The average list to sales price was 94%. There are still 262 active single family listings. 20 homes in this price range are currently under contract. The absorption rate for homes in this range is about 7.5% and there is about a 13 months supply of inventory.

The $700K to $1.2 million range saw a fair amount of activity again this month with 12 homes selling. The average days on market in this price range was 121 days. The average sold price was $1,026,916 and the median sold price was $984,000 (both up significantly from last month). The average list to sales price was 90%. There are currently 332 single family homes listed in this price range. 17 homes are under contract which puts the absorption rate at about 5%. There is about 19 1/2 months of inventory still remaining for this price range.

4 homes in the $1.2 million to $2 million range sold this month. The average sold price was $1,240,000 (down 73% from last month) and the median sold price was $1,504,750. The average list to sales price was 92%. There are still 177 homes listed in this price range (same as last month) and 14 are pending which puts the absorption rate at about 8%. There is still a little over a year's worth of inventory in this price range.

Sales have picked up quite a bit this last month as it is towards the end of the busy selling season. Labor Day weekend was especially busy. There was also quite a few price reductions in the past couple weeks as well with sellers wanting to take advantage of last few weeks of summer. It continues to be a buyers' market and the homes that are priced well are going quickly. Some of the best deals are with short sales (although there are surprisingly not that many in the area) and new construction homes.

14 new homes came on the market in Truckee this past week. One of them already went pending! 4 other single family homes went into contract this week. There are currently 8 single family homes under contract in Truckee which gives the market an aborption rate of about 15%. One home sold this week. It was a short sale in Prosser that sold for $400K (on the market for 274 days, originally listed for $500K). 52 homes are actively listed giving us about 6 1/2 months of inventory still remaining. Click here for more info on the Truckee Market.

Quite a bit of activity this week in Tahoe Donner! 5 homes and 2 condos sold this week. All of the homes that sold this week were in the $500K-$700K range. The average list to sales price was 95% and the average days on market was 42 days (the lowest number of days on market we have seen in quite awhile!). 6 homes went into contract this week. These homes varied in price with 2 homes in the $300K range, 2 homes around $600K, and 2 homes right around $1.2 million. There are currently 22 homes in escrow in Tahoe Donner which gives the market an absorption rate of 12%. Not bad considering this "slow" market. There are still 183 single family homes, 38 condos, and 10 fractionals on the market in Tahoe Donner. This is the highest number of properties listed that we have seen all year. For single family homes alone, there is just over 8 months of inventory. Tahoe Donner continues to be a great place to purchase property. Homes hold their value well here compared to other parts of Truckee, and with all the inventory there right now, prices for homes listed are quite competitive! For best buys and more on the Tahoe Donner market click here.