Buyers Purchased Tahoe Donner Homes at a Blistering Pace in 2015
Happy New Year! With 2015 behind us, we can now reflect on the Tahoe Donner real estate market and see what happened over the last 12 months. The highlight of the 2015 Tahoe Donner real estate market was sales volume, which was up 14% in 2015. Buyers were taking advantage of motivated sellers who may have feared the drought conditions could further erode value if we entered into a 5th drought winter. These buyer’s are looking smart right now as this winter appears to be average to above average, which is bolstering demand in a limited inventory market. This past year was a solid year for luxury home sales with 16 single family homes selling for over $1M with a high sale price of $1.68M. Overall the market struggled to keep pace with 2014 which is reflected in slight declines in both the average and median home pricing.
Year End Tahoe Donner Real Estate Market Analysis
- 239 Single Family Home Sales up 14%
- Avg. Marketing Time: 67 Days up 9%
- Avg. List to Sold Discount: 2.3%, down 4%
- Average Price: $644K down 4.4%
- Median Price: $580K down 6%
- 4 REO & Short Sales down 43%
- 13 Sales Below $350K up 31%
- 16 Sales over $1M down 6%
- High Sale Price: $1.68M down 14%
- Low Sale Price: $299K up 19%
- 206 Single Family Homes
- Average Marketing Time: 61 Days
- Avg. List to Sold Discount: 2.4%,
- Average Price: $674K
- Median Price: $617K
- 7 REO & Short Sales
- 9 Sales Below $350K
- 17 Sales over $1M
- High Sale Price: $1.95M
- Low Sale Price: $241K
Unfortunately, 2015 could not keep pace with the double-digit gains of 2014 and we saw the average and median home price slip in Tahoe Donner for the first time since the recovery started in 2012. The decline in home pricing was mostly due to a slowing luxury market which saw a 6% decline in the number of homes sold over $1M. The decline in the luxury segment and the Tahoe Donner market as a whole is directly correlated to the 4 years of drought conditions that Tahoe has been suffering from. Luckily the New Year is off to a great start and Squaw Valley is already reporting over 200 inches of snowfall which is just 10″ shy of last years snow totals. It appears that El Nino is going to deliver the moisture that Northern California needs, which should have a positive impact on the Tahoe Donner real estate market.
2015 Year End Tahoe Donner Real Estate Sales Chart
*Tahoe Donner Single Family Homes, data taken from the Tahoe-Sierra Board of Realtors, MLS Area 9TD.
If you would like to discuss the Tahoe Donner real estate market conditions in more detail or talk about the market where your home is located please feel free to call or email me. I would be happy to put together a specific market analysis for your home and provide you with information about how I can help you sell your home for top dollar.
David Westall, Realtor
OLIVER LUXURY REAL ESTATE
CA BRE# 01796995