Tahoe Donner Real Estate Sales Information – June

What’s happening in Tahoe Donner; Year to date 67 homes have closed escrow in Tahoe Donner compared to 105 sales during the same period last year. Two glaring factors; 1. Property prices and interest rates have increased since last year. 2. The drought! Yes, more compelling and momentous in my mind is the drought, as we are tourist driven, the lack of snow impacted the volume of skiing tourist, (would be home buyers).  Did you know that approximately 65% of all sales in Tahoe Donner happen after June 30th? Graduation, graduation parties, father’s day, then the home buying season begins, yea!

Today June 4, 2014; there are only 71 single family homes available or for sale in Tahoe Donner, up from 42 as last reported. For any time of year, this is an extremely low number of homes available.
Furthermore, all of the homes offered for sale are standard sales, none of the available properties are short sales and there are no REO, (Bank owned property). This bodes well as further evidence that the vacation home market has moved to better health. Also, 22 single family homes are currently in escrow or pending sale. Moreover, of these 22 pending sales only 2 are short sales pending bank approval and only 1 is a banked owned property. Pending sales range in price from $299,950 to $949,000.
Some perspective on Tahoe Donner market conditions: Tahoe Donner had a total of 273 single family homes close escrow in 2013 compared to 270 homes which close escrow in 2012, (a parity), in 2011there were 212 sales consummated, in 2010 there were 223 sales consummated, 2009 saw 225 homes close escrow, and in 2008 only 193 sales were consummated. Year to date 67 homes have closed escrow in Tahoe Donner compared to 105 single family homes which traded hands last year during the same period.
Home site sales see improvement, yea; there are 44 home sites currently available, only 1 home sites is currently in escrow or pending sale. In 2013 we had 44 home sites close escrow, up significantly from 2012 in which we had 34 home sites closed escrow and a major improvement from the 16 home sites which closed escrow in 2011. Currently, the pricing for available home sites run from a low of $69,000 to a high of $499,000. Of interest; pricing on the lots appear to have reached a bottom and seem to have started moving in a positive direction.