The Lake Tahoe, CA Real Estate Markets Are Energized As We Close In On $1B In Home Sales!
October was another record-breaking month for North Lake Tahoe, CA and Truckee real estate sales with $147M of single-family homes trading hands. October home sales account for 15% of the total dollar volume in 2017 and if you combine September and October we saw 33% of the year’s dollar volume trade hands in just 2 months, which is record-breaking. In October, 155 single family homes sold, of which 34 were priced over $1M and 9 homes were priced over $3M, which showcases the tenacity of the Tahoe luxury real estate market. 2017 is shaping up to be a banner year for Lake Tahoe real estate sales and we are anticipating exceeding the record numbers that 2016 delivered.
Lake Tahoe Real Estate Market Report October 2017 Highlights
- New Record: 155 single-family homes sold in October
- October sales volume is up 34% over 2016
- On average homes are selling in 72 days which is 19% faster than in 2016
- The median home price is $665,000 which is up 7.5% over 2016. The median home value is now only 9% below the peak market pricing (2006)
- Currently, there are 154 single family homes in escrow with an average price of $1,119,615 and a median price of $723,000. 48 of these pending sales are luxury Tahoe homes priced over $1M
Year over Year Lake Tahoe, CA Real Estate Market Conditions and Value Trends
Jan – October 2017 Statistics
- 945 Single Family Sales Down .05%
- Avg. Marketing Time: 72 Days Down 19%
- Avg. List to Sold Discount: 3.7% Up 11%
- Total Sales Volume: $952M Down 1.5%
- Average Price: $1.007M Down 1.5%
- Median Price: $665K Up 7.5%
- 15 REO & Short Sales Down 28.5%
- 26 Sales Below $300K Down 7%
- 217 Sales over $1M Down 3.5%
- 55 Sales over $3M Down 11%
- High Sale Price: $15M Down 14%
- Low Sale Price: $138K Down 28%
Jan – October 2016 Statistics
- 950 Single Family Homes
- Average Marketing Time: 89 Days
- Avg. List to Sold Discount: 3.3%
- Total Sales Volume: $967M
- Average Price: $1.022M
- Median Price: $615K
- 21 REO & Short Sales
- 28 Sales Below $300K
- 225 Sales over $1M
- 62 Sales over $3M
- High Sale Price: $17.5M
- Low Sale Price: $192K
*North Lake Tahoe, CA and Truckee, CA Single Family Home sales including lakefronts. Data is taken from the Tahoe-Sierra Board of Realtors, MLS Areas 1-9
Lake Tahoe Real Estate Market Report Sales Chart October 2017
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 October 2017
Click Image to Enlarge Chart
Lake Tahoe Market Report Archive
- View All Tahoe Real Estate Market Reports
- October 2016 Lake Tahoe Market Report
- October 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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David Westall, Realtor
OLIVER LUXURY REAL ESTATE
P: 530-448-9882
David@WestallRealEstate.com
CA BRE# 01796995
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