The Tahoe-Truckee real estate market is stabilizing, and along with the weather, this season isn’t displaying the volatility that we saw in 2018 and winter 2019.
Sellers are going into this year with a more realistic view of pricing than they were a year ago, which will lead to shorter listing times and a more active market. Buyers won’t be encountering the bursting-at-the-seams asking prices that made financing and negotiations challenging for much of 2019.
As a result of low inventory and inflated prices, unit sales were down in most areas in 2019. However, by the time October rolled around, price reductions helped propel 2019 to a solid finish. The three major ski areas on the California side of the lake out-performed all other parts of our market, with unit sales up 28% and median price up 7% over 2018.
In a quarter-to-quarter of the past two years, we can see a very stable median price for Tahoe-Truckee area. It’s encouraging to see price inflation calming down a bit from the pervious few years, because this will increase units sold and overall volume. It’s always good to keep in mind that at the historic high of the market in 2006, unit sales were also at an all-time low!
Decade in Review: we decided to take a look at the single family home numbers over the course of the 2010’s, and compare particular neighborhoods with the area as a whole. Find your neighborhood below, or contact our office at 530-581-6927 for more information!
Lakefronts (North & West Shore Tahoe)
North Shore Tahoe(excluding lakefronts)
Sierra Meadows-Ponderosa Palisades
West Shore Tahoe (excluding lakefronts)