Tahoe Donner Weekly Market Update

There are currently 173 homes on the market in Tahoe Donner. 6 new homes came on the market and 2 went pending. 2 new condo listings came on the market this week. 18 homes are currently under contract. 2 of these homes are bank owned and one is a short sale. 2 homes sold this week. One was a short sale that ended up selling for $560,000 and the other home sold for $515,000. With 173 homes on the market and 18 homes under contract, Tahoe Donner currently has an absorption rate of about 10%. About a month ago, the absorbtion rate was closer to 15%. There are many more homes listed and not quite as many under contract. We should start to see more activity over the next couple months as the busy buying season starts to take off.