Total Dollar Volume on Pace to Set a Record in 2018
The 3rd Quarter of 2018 was another record-breaking quarter for North Lake Tahoe, CA and Truckee real estate. Most notably, total dollar volume for single-family homes is now at $996M (up 19%) which is incredible as we have only had 2 other years with over $1B in sales volume and it appears that this will be the best year ever for single-family home sales/dollar volume in the Tahoe/Truckee region. Just about every metric I track (see below) is positive with the average home price up 18%, the median home price is up 8% and we continue to see major movement in the luxury segments of the market with sales of $1M+ sales up 20% and the sale of $3M+ homes up 23% this year.
Year over Year Lake Tahoe, CA Real Estate Market Conditions and Value Trends
Q3 2018 Statistics
- 800 Single Family Home Sales Up 1%
- Avg. Marketing Time: 62 Days Down 16%
- Avg. List to Sold Discount: 3.7% Up 3%
- Total Sales Volume: $996M Up 19%
- Average Price: $1.245M Up 18%
- Median Price: $718K Up 8%
- 4 REO & Short Sales Down 73%
- 13 Sales Below $300K Down 41%
- 229 Sales over $1M Up 20%
- 60 Sales over $3M Up 23%
- High Sale Price: $40M Up 63%
- Low Sale Price: $168K Up 17%
Q3 2017 Statistics
- 790 Single Family Homes
- Average Marketing Time: 74 Days
- Avg. List to Sold Discount: 3.6%
- Total Sales Volume: $805M
- Average Price: $1.019M
- Median Price: $661K
- 15 REO & Short Sales
- 22 Sales Below $300K
- 183 Sales over $1M
- 46 Sales over $3M
- High Sale Price: $15M
- Low Sale Price: $140K
The Seasonality of Tahoe Real Estate
Over the last 30 days, we have seen a high number of price reductions as sellers are becoming more motivated to get their homes sold before the end of the year. I do not see this as a softening of the market as this is typical market behavior for autumn but it does create a great opportunity for buyers looking to take advantage of motivated sellers and obtain great pricing on their home purchases.
Lake Tahoe Real Estate Market Report Q3 2018 Highlights
- Year over year dollar volume is up 19%
- Oliver Luxury Real Estate sets a record with the sale of a $40M lakefront sale in Tahoe City
- Luxury home sales account for 29% of all sales in 2018
- Median home price is up 8%
- Marketing times are down 16% to an average of 62 days
Lake Tahoe Real Estate Market Report Q3 2018 Sales Chart
Year Over Year Lake Tahoe Real Estate Sales Volume Chart Q3 2018
Click to Enlarge Chart
*North Lake Tahoe, CA and Truckee Single Family Home sales including lakefronts. Data is taken from the Tahoe-Sierra Board of Realtors, MLS Areas 1-9.
Lake Tahoe Market Report Archive
- View All Tahoe Real Estate Market Reports
- Q3 2017 Lake Tahoe Market Report
- Q3 2016 Lake Tahoe Market Report
Do you have questions about Lake Tahoe Real Estate? Please call me at (530) 448-9882 if you would like to discuss Lake Tahoe real estate market conditions in more detail or to talk about how we can achieve your real estate goals together.
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