Will the Tahoe Truckee Real Estate Market Cool this Fall?

Posted by Jackie Ginley on September 24th, 2021

 

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…

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Lake Tahoe Real Estate: A Millionaire's Playground?

Posted by Jackie Ginley on July 13th, 2021

Lake Tahoe real estate is suddenly becoming a commodity available mostly to those who can afford to spend more than $1 million. Luxury sales tripled at the Lake in the first six months of this year, and the median sales price climbed to an unprecedented $1M, a 44 percent jump from the year before.

But most surprising is that for the first time ever, many areas of Lake Tahoe and Truckee saw more homes selling for over $1 million, than under. Last year at this time, for example, luxury sales represented just one-third of the overall sales at the Lake. And this year so far, homes priced over $1 million outpaced more affordable properties.

From January to June this year, 383 homes closed at Lake Tahoe for $1 million or more. That's more than…

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Tahoe Real Estate in 2020: Can it Continue?

Posted by Jackie Ginley on January 14th, 2021

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…

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Time to Sell in Tahoe?

Posted by Jackie Ginley on June 14th, 2020

Strong Lake Tahoe Real Estate Market Favors Sellers

Overnight, it seems, Tahoe has become a seller’s market. Low inventory around the Lake, fueled by an increasing urban desire to escape from the confines of city life, has driven home prices around Lake Tahoe to a new 12-month high.

The median sales price for a single-family home around Tahoe rose to almost $853k, more than $100k over last May, when the beaches and hotels were open and we all took dining out for granted.

 

Incline Village Home Values on the Rise 

In Incline, the median sales price rose 6.5 percent in May over this time last year.  That's almost a whopping 50 percent increase over pricing in April, when the market was still on wobbly post-Covid knees.

…

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Coronavirus and the Tahoe | Truckee Real Estate Market

Posted by Jackie Ginley on April 8th, 2020

What Buyers and Sellers Need to Know about Covid-19 and Tahoe | Truckee Home Sales

This was a tough column to write because I know so many of you have suffered hardships as a result of the unprecedented fallout from the Coronavirus epidemic, and I don't want to appear be tone deaf. Those of you who know me, know that my motto is service above sales.

So many questions have rolled in about what 'exactly' all this means for the Tahoe Truckee real estate market, that I felt my 1st Quarter column needed to go granular. As you scroll down, you'll find global statistics, along with Links to specific communities, so you can zoom in the areas you're focused on.

March was a roller coaster ride none of us had ever seen before, and with the news and the…

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Coronavirus and the Incline Village Real Estate Market

Posted by Jackie Ginley on April 7th, 2020

Incline Village Homes Still Selling Despite Covid-19 Closures 

With hotels shuttered and the beaches yet to open for the season, Incline Village is unusually quiet this Spring. But the real estate market in this lakeside community on Lake Tahoe's north shore is still cooking.

Incline Village closed out the 1st quarter of 2020 with 36 single-family home sales, 12 homes selling per month on average. But significantly, the Incline real estate market moved into April with 18 homes under contract to sell. And more than half of them had accepted offers in mid-March, following the breaking news of the coronavirus pandemic and the March 15 closure of Tahoe's Ski Resorts.

In the midst of stock market volatility, and statewide shelter in place orders,…

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