Lake Tahoe Real Estate Market Report October 2017

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

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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