Let’s Get This Party Started!
Many of us are seeing glimmers of hope that life will regain a sense of normalcy sometime this summer. Barbecues, friends, and maybe even 4th of July fireworks?? Dare we hope? SPRING 2021 MARKET REPORT
Unfortunately, the Tahoe-Truckee real estate market hasn’t gotten the memo. Nope, things here are as far from normal as they’ve ever been. Stats are nutty everywhere, so rather than rehash the specifics of the insanity, let’s take a deep breath and look at the 10,000′ view.
Our takeaway: The forces of inflated prices and low inventory are creating a stalemate that’s in danger of setting up harder than the infamous “Sierra cement” snow pack. The best way to thaw a potential slowdown is to get more sellers listing, so the market doesn’t suffer a prolonged excess of demand.
Our good news: motivated sellers are coming out of hibernation, and we’re optimistic that the pace of new listings will ramp up significantly in the next two months. What is your home worth?
In our Year End 2020 Newsletter, it was safe to say that unit sales were the real story, overshadowing high prices as a historical phenomenon. Oh, how quickly things change! Just like we saw in 2006, when unit sales plunged as prices peaked, overheated prices threaten to freeze market activity.
It’s unlikely that the market will right itself before the summer sales season, because weekly new listings would need to quadruple to bring inventory back to “normal” levels. However, in the longer term, the market always corrects, and we are doing everything we can on a daily basis to get more properties on the market! SEE ALL SPRING 2021 MARKET REPORT NUMBERS
BUYER ALERT
To find out about pre-market listings, CLICK HERE or give us a call: 530-581-6927
Word of mouth is one of the prime methods of selling property right now, and you need to keep abreast of what lies ahead in the Tahoe-Truckee market.
