2020: A Banner Year for Tahoe Real Estate
Almost $3 billion worth of real estate changed hands in Tahoe/Truckee & Incline/Crystal Bay last year. For single-family homes, that’s a whopping 87 increase in volume over 2019 – a staggering jump that no one has seen in recent memory, and more than double the gains we saw in 2012, when bargain buying fueled a recovering market.
But there were almost no bargains to be found last year. Homes that were priced right and showed well received multiple offers and often sold for well over asking.
A Year for Luxury
The highest demand was for homes priced under $1 million, but luxury sales also soared in 2020. Close to half (45 percent) of the homes that sold in North Tahoe and Truckee last year closed for…