The North Lake Tahoe, CA Real Estate Markets Hit $1B In Single-Family Home Sales!
Lake Tahoe real estate sales typically slow down at the end of the year as the holiday’s approach, but 2017 is bucking that trend as the strength of the market is quashing historic seasonal trends. November was another record-breaking month for North Lake Tahoe, CA and Truckee real estate sales with $118M of single-family homes trading hands and we have now exceeded $1B in single-family home sales. September through November home sales accounted for 40% of the total dollar volume thus far, which is a record-breaking streak! In November, 124 single family homes sold, of which 33 were priced over $1M and 5 homes were priced over $3M, which is outstanding. The North Lake Tahoe, CA real estate markets continue to surge going into the New Year and it looks like we might exceed the record-breaking year of 2016.
Lake Tahoe Real Estate Market Report November 2017 Highlights
- New Record: 124 single family homes sold in November
- November sales volume is up 25% over 2016
- On average homes are selling in 75 days which is 16% faster than in 2016
- The median home price is $670,000 which is up 7.5% over 2016. The median home value is now only 5% below the peak market pricing (2006).
- Currently, there are 74 single-family homes in escrow with an average price of $1,104,000 and a median price of $665,000. 22 of these pending sales are priced over $1M.
Year over Year Lake Tahoe, CA Real Estate Market Conditions and Value Trends
Jan – November 2017 Statistics
- 1,069 Single Family Home Sales Up 2.5%
- Avg. Marketing Time: 75 Days Down 16%
- Avg. List to Sold Discount: 3.7% Up 5.5%
- Total Sales Volume: $1.07B Up 3%
- Average Price: $1.001M Even
- Median Price: $670K Up 7.5%
- 16 REO & Short Sales Down 30.5%
- 27 Sales Below $300K Down 7%
- 250 Sales over $1M Up 4%
- 60 Sales over $3M Down 5%
- High Sale Price: $15M Down 14%
- Low Sale Price: $138K Down 28%
Jan – November 2016 Statistics
- 1,043 Single Family Homes
- Average Marketing Time: 89 Days
- Avg. List to Sold Discount: 3.5%
- Total Sales Volume: $1.04B
- Average Price: $999K
- Median Price: $620K
- 23 REO & Short Sales
- 29 Sales Below $300K
- 241 Sales over $1M
- 63 Sales over $3M
- High Sale Price: $17.5M
- Low Sale Price: $192K
Lake Tahoe Real Estate Market Report November 2017 Sales Chart
Click Image 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.
Year Over Year Lake Tahoe Real Estate Sales Volume Chart November 2017
Click Image to Enlarge Chart
Lake Tahoe Market Report Archive
- View All Tahoe Real Estate Market Reports
- November 2016 Lake Tahoe Market Report
- November 2015 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 market conditions in more detail or to talk about how I can help you achieve your real estate goals.
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Want to know the value of your Lake Tahoe home?
David Westall, Realtor
OLIVER LUXURY REAL ESTATE
P: 530-448-9882
David@WestallRealEstate.com
CA BRE# 01796995
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