Fractional Ownership Statistics in Lake Tahoe

September 25th, 2006 – Sales of shares in fractionalized properties comprise only a small share of the total real estate transactions, however they have been increasing steadily since the North Tahoe Sierra MLS began tracking them in 2003. Prices for shares ranged from $20,000 - $860,000, with an average share price of $337,000. Transactions on fractional properties accounted for 1.6% of the total dollar volume for the area. Please reference the chart below for statistics on the growth of Shared Ownership in the North Tahoe Sierra region.

Residential Shared Ownership History

Tahoe Sierra Region 2003-Sept. 2006
   

% of Total

  

% of Avg.

      

% of Total

  
 

# of

Residential**

Average

Non-SO***

Sale Price Range

Dollar

Residential**

Avg.

Year

Sales

Sales

Sale Price

Sale Price

Low

High

Volume

$ Volume

DOM

2003*

14

2.0%

$177,107

40%

$79,000

$300,000

$2,479,500

0.7%

153

2004

49

2.9%

$346,173

56%

$35,000

$825,000

$16,962,500

1.6%

124

2005

49

3.4%

$279,822

44%

$279,822

$840,000

$13,711,300

1.2%

110

2006

44****

4.5%

$337,151

38%

$20,499

$860,000

$14,834,665****

1.6%

138
 

* The MLS began tracking shared ownership statistics 2003. Shared ownership sales that closed prior to the date on which the tracking began are not reflected in these numbers.

** Includes single family, condominium and town homes, and shared ownership, but not timeshares or mobile homes.

*** Includes single family, condominium and town homes, but not mobile homes.

**** Projected by DreamSlice through the end of the year.

Note: All information is from the MLS. Percentage numbers have been calculated by DreamSlice based on MLS numbers. This information is deemed accurate, but not to be relied upon.

September 25th, 2006- Shared ownership sales have accounted for about 5% of the real estate transactions in our area so far this year. The largest number of sales occurred in Northstar Village. Units in developments that were originally developed as fractional properties accounted for 70% of the transactions. The average day on market (DOM) for fractions of properties was 138 compared with 100 for singly owned homes. Only 12% of the transactions involved loans at the time of sale. See the charts below for more shared ownership statistics in the North Tahoe Sierra region.

Residential Shared Ownership Statistics

Tahoe Sierra Region Jan 1, 2006 - Sept 25-2006

Sold as of 9-25-06

# of

Average

Percent of

Share

Average

Dollar

 

Sales

Sale Price

Asking Price

Increment

DOM

Volume

Northstar Village

13

382,423

  

1/7

143

  

Sweet Briar

6

209,750

  

1/6

81

  

Tahoe Donner

5

313,200

  

1/2-1/6

58

  

Tonapalo

3

601,667

  

1/7

29

  

Northstar Homes

2

309,500

  

1/4-1/7

212

  

Olympic Village

1

20,499

  

1/17

610

  

Other

3

295,000

  

1/7-1/11

70

  

Total for Shared Ownership*

33

337, 151

95%

1/2-1/17

138

$11,125,999

Comparison to Single Ownership**

703

885,335

95%

1

100

$687,436,889

Percentages

4.5%

38%

    

138%

1.6%

Funding

# of

Average

        
 

Sales

Sale Price

        

Cash

29

329,000

        

Conventional Loan

3

485,000

        

Owner-Finance

1

250,000

        

* Does not include timeshares.

** Includes single family, condominium and town homes, but not mobile homes.

Note: All information is from the MLS. Percentage numbers have been calculated by DreamSlice based on MLS numbers. This information is deemed accurate, but not to be relied upon.