As we move into Fall, I keep hearing one question from my clients: Is the real estate market cooling down yet?
On the heels of last year’s pandemic shutdowns, the value of Tahoe/Truckee real estate skyrocketed. The volume of sales tripled in some markets, and the median sales price rose for the first time ever to more than $1 million in most of our markets.
What goes up must come down. That’s what my clients keep telling me.
But that’s not what the data shows … at least not so far.
We are not seeing the sort of panic buying we did amid the Covid shutdowns last year. Anecdotally, there are definitely fewer buyers in town than we saw earlier this summer. Schools are back to live learning in many of our Bay Area feeder markets, parents are…