Everyone seems to be asking about the Tahoe Donner Real Estate Market. Is it a good time to be buying in Tahoe Donner? Is it a good time to be selling in Tahoe Donner? Here is what we are seeing currently in the Tahoe Donner Real Estate Market:
For Tahoe Donner HOMES, Sales are up approximately 28% year to date vs. last year, for a total of 235 sales this year so far, vs. 64 current listings.
For Tahoe Donner CONDOS, sales are up approximately 36% year to date vs. last year, for a total of 38 sales this year so far, vs. 7 currently listed.
For Tahoe Donner LOTS, sales are up over 81% year to date vs. last year, for a total of 29 sales this year so far, vs. 56 currently listed.
Putting all that together, for Tahoe Donner Homes, there is about 3.2 months of unsold inventory in the housing market (235 sales per year /12 months=19.58 sales per month 64 listings/19.58 sales per month=3.2 months of inventory). If that sort of ratio continues, prices should rise as there are a lot of buyers competing for only a few listings.
Looking at Tahoe Donner Condos, there is about 2.21 months of unsold inventory. Again, this is an even stronger indication of potential increase in pricing if that kind of ratio continues.
Looking at Tahoe Donner Lots, conversely, there is about 23 months of inventory in Tahoe Donner Vacant land. So, the Tahoe Donner lot market has a lot of room to improve.
IF I WERE A BUYER TODAY, given the relative level of competition to buy, I would be less concerned with getting the most aggressive value on the front end, more concerned with getting a good floor plan in a good location, which will perform more favorably in the market for the future. The risk as a buyer is that interest rates will likely go up in the not too distant future, which will impact your purchasing power at the same payment.
IF I WERE A SELLER TODAY, I would feel comfortable listing knowing that there are many buyers competing for property in general. Buyers still (and in any market) purchase value and they will not pay a higher price than market, until the market gets to that price. The risk as a seller, is that if you list too high to begin with, you may be scaring off potential and qualified buyers who will pay you market value and as your Days on the Market gets to be a big number (bigger than 60 days in most cases) Buyers will start to feel that there must be something wrong with the property and will start factoring in a discount on the price.
For more information on the Tahoe Donner market, contact The Schaller Team at email@example.com or 530-550-5028.