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Tahoe City, CA 96145

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Q3 2021 Tahoe Real Estate Market Update

Q3 2021 Tahoe Real Estate Market Update

In the first three quarters of 2021, in all micro-regions, sales volume of single-family homes decreased while median price reached historic highs. Notably, this is the first time we have seen any micro-region show a decrease in sales volume since the midyear 2020 report, which may reflect the limited available inventory, the impact of the California wildfires on home sales, and the potentially unsustainable growth trends. As we saw in the mid-year report, all micro-regions continue to show median prices above $1M. And, each micro-region saw an increase in median price over 35%. While the vigorous growth in median price continues, this is the first indication of a slowdown in sales volume. Whether or not the number of homes sold was significantly impacted by temporary factors, or whether limited inventory will continue to drive down the number of homes sold, will be the trend to watch for the remainder of 2021.

January – September 2021 Recap

  • Single-family homes sold decreased 15% year over year.
  • Median price increased 45% year over year, and is on a 6-year growth trend.
  • Median price reached an historic high.
  • 181 of 919 homes (20%) sold over $2 million.

North & West Shore Recap

January – September 2021

  • Single-family homes sold decreased 14% year over year.
  • Median price increased 48% year over year and is on a 6-year growth trend.
  • Median price reached an historic high.
  • 64 of 317 homes (20%) sold for over $2 million.

Incline Village & Crystal Bay Recap

January – September 2021

  • Single-family homes sold decreased 26% year over year.
  • Median price increased 40% year over year and is on a 6-year growth trend.
  • Median price reached an historic high.
  • 95 of 184 homes (52%) sold for over $2 million.

Lakefront Recap

January – September 2021

  • Single-family homes sold decreased 14% year over year.
  • Median price increased 36% year over year and reached an historic high.
  • 24 of 24 homes (100%) sold for over $2 million.

Truckee Recap

January – September 2021

  • Single-family homes sold decreased by 15% year over year.
  • Median price increased by 40% year over year.
  • Median price reached an historic high.
  • 117 of 602 homes (19%) sold for over $2 million.
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Amie Quirarte

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