First-Quarter Market Report
The Lake Tahoe Real Estate first-quarter market report has just been published by Tahoe Luxury Properties. Please review for market insights.
This article is based on analyses made by Bill Dietz, the Principal Broker and owner of Tahoe Luxury Properties. The analysis covers median home prices, units sold data year-over-year, and trending reporting by region.
The first quarter of 2020 started off with momentum. We witnessed a 14-year high in the median price of the Tahoe Sierra MLS. Overall, the median price and sales volume rose in all regions except Incline Village and Crystal Bay (median down 14%), and lakefronts (sales volume remained flat). Due to the impacts of COVID-19, there are expected market fluctuations ahead. What will determine the significance of these changes in the next quarter’s market performance is the duration of the Shelter In Place directives and rapidity of economic recovery. There is concentrated demand projected from opportunistic buyers, and after the lift of restrictions, we expect Lake Tahoe to once again bustle as one of the world’s premier destinations.