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amie@tluxp.com

Tahoe Market Flare: Check Out the Numbers

Tahoe Market Flare: Check Out the Numbers

Because we like to keep you looped in, here’s more market data explaining how the Tahoe/Truckee area has witnessed the busiest real estate period in recent history. To give you perspective, we just watched July 2020, with 292 closed sales, claim the Tahoe MLS all-time record for the number of closed sales in a month, beating out 182 sales in August of 2017.

The market has been blasting to new highs since May. With increasingly little supply and voracious demand, one of the only current perceivable limitations on continuing highs is diminishing supply. We now will wait to see how the winds may change this coming fall season.

Notable market  data points:

 190 Residences went into contract in May of 2020
(vs. 110 in May 2019)
318 Residences went into contract in June of 2020
(vs. 125 in June 2019)
298 Residences went into contract in July
 (vs 150 in July 2019)
189 Residences went
into contract in the first 19 days of August
2019 busiest months:
170 residences went into contract in August 2019
170 residences went into contract in September 2019
Year-to-date (January-July) 850 residences have sold
30% increase year over year
123% of the ten year average for the period
283 residences actively for sale
(vs. 382 residences two months ago)
(vs. July 2019 with 650 residences for sale)
Active inventory is about 44% of what it was a year ago
January-June, the median sales price was $674,500
(vs. $669,000 last year)
Average sales price was $986,430
(vs. $975,296 last year)
The June median sales price was $706,875, and the average was $987,193
The July median was $803,500, and the average was $1,190,617
Luxury Home Sales (over $1 million) accounted for 236 properties sold this year January-July,
28% of total sales, and up 55% from the 152 sales in the same period in 2019
For more information, please feel welcome to contact our team. As local market experts, our priority is providing our clients with the best possible market information available.
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Amie Quirarte

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