As we look back on what most of us simply remember as Snowmageddon, I’d like to suggest rebranding 2017 as the “Year of the Condo”! Perhaps because of all the creative remodels we’ve been seeing, or because the thought of shoveling all that snow was just too daunting, non-lakefront condo unit sales in the Tahoe Basin were up a whopping 47% over 2016. And the number of sold lakefront condo units DOUBLED! Prices surged too, with lakefront condos showing a very impressive 49% increase in median price. Whether we credit the record-breaking snow or the waving of a magic redecorating wand, we finally had the big year condo sellers had been waiting for.
Across the Tahoe-Truckee area, we also saw healthy gains in non-lakefront single family homes, with median sale prices up anywhere from 6% to 15%, depending on the area. However, great buys were to be had in the single family Lake Tahoe lakefront market, making for some very happy customers. Median prices in that category were down 26%, and average down 16%, from 2016.
MY SPECIAL REPORTS FOR YEAR-END 2017:
- Martis Camp, while still a very powerful force in the Truckee economy, sees a decline in its dollar-volume percentage of the local housing market, down from 33% in 2016 to 27% in 2017. Median prices also declined slightly.
Click here for Martis Camp chart with numbers
- Reno Report! Granger Group now serves Reno, so I was curious how Reno’s recovery since the crash of 2008-2012 compares to our own recovery in Tahoe. Up in the hills we’re not quite back to 2006 prices–still 11% under, but last year Reno surpassed their 2006 highs by 2%! Go Biggest Little City! Click here for Reno chart with numbers
- Price vs Days on Market Analysis (scroll down)
- 4th Quarter Focus (scroll down)