Batting a thousand?!?
Did you know that .0014% of major league baseball players have a career batting average of 1.000? And most of them only had one at-bat in their “career”. This is how hard it is to hit every ball that comes your way!
Well, here in the summer of 2021, the Tahoe-Truckee market is closer than it’s ever been to batting a thousand–selling every listing brought to market, in record time. With only 23% of normal July 1 inventory for single family homes, buyers are hungry, days on market are lower than ever, and demand has driven prices to unprecedented highs.
At 278 single family homes sold in the second quarter, unit sales were within normal range for this time of year. However, buyers are competing for fewer and fewer listings, and prices will remain high as long as these bidding wars continue.
Until 2020, buyers could still find homes in the $400,000-$699,000 price range in both the Tahoe Basin and Truckee. That sector of the market has all but disappeared in 2021, with largest growth being in the $1 million to $1.499 million range.