September was a Record-Breaking Month for North Lake Tahoe, CA Real Estate Capping off a Strong Q3
September was a record-breaking month for North Lake Tahoe, CA and Truckee real estate sales with $162M of single-family homes trading hands, thus capping off a noteworthy finish to the 3rd Quarter. This remarkable sales volume accounts for 20% of the total dollar volume in 2017, which is exceptional for any given month. In September, 140 homes sold of which 46 were priced over $1M and 12 homes were priced over $3M, which is also a record. September is traditionally the busiest month of the year for closings and September 2017 delivered.
I’ve been speculating for a few months that the Tahoe real estate markets were poised for a strong finish to the year after a slow start (due to snow) and September is proof that 2017 is going to be another solid year for Tahoe real estate sales. Robust demand is expected to continue into late November when buyers typically take a break during the holiday season. During the 4th quarter, we expect to see a number of significant closings as currently there are 199 single family homes in escrow with a total sales volume of $182M. If all of these homes close, the Tahoe real estate markets will be at almost $1B in single-family home sales for 2017 which is monumental as 2016 was the only other year that the North Lake Tahoe, CA and Truckee real estate markets exceeded $1B in single-family home sales.
Lake Tahoe Real Estate Market Report September 2017 Highlights
- New Record: $162M in single-family homes traded hands in September accounting for 20% of 2017 dollar volume
- New Record: 141 homes sold in September
- On average homes are selling in 74 days which is 19% faster than in 2016
- The median home price is $662,500 which is up 7.5% over 2016. The median home value is now only 9% below the peak market pricing (2006).
- Currently, there are 199 single family homes in escrow with an average price of $917,000 and a median price of $686,000. 42 of these properties have prices that are over $1M
- The North Lake Tahoe, CA and Truckee real estate markets are on track to close over $1B in single-family home sales
Year over Year Lake Tahoe, CA Real Estate Market Conditions and Value Trends
Jan – September 2017 Statistics
- 781 Single Family Home Sales Down 8%
- Avg. Marketing Time: 74 Days Down 19%
- Avg. List to Sold Discount: 3.7% Up 6%
- Total Sales Volume: $799.6M Down 7.7%
- Average Price: $1.024M Even
- Median Price: $662.5K Up 7.5%
- 15 REO & Short Sales Down 25%
- 22 Sales Below $300K Down 15%
- 182 Sales over $1M Down 11%
- 46 Sales over $3M Down 19%
- High Sale Price: $15M Down 14%
- Low Sale Price: $140K Down 27%
Jan – September 2016 Statistics
- 847 Single Family Homes
- Average Marketing Time: 91 Days
- Avg. List to Sold Discount: 3.2%
- Total Sales Volume: $866.5M
- Average Price: $1.026M
- Median Price: $613K
- 20 REO & Short Sales
- 26 Sales Below $300K
- 204 Sales over $1M
- 57 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 Q3 2017
*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 Q3 2017
Lake Tahoe Market Report Archive
- View All Tahoe Real Estate Market Reports
- Q3 2016 Lake Tahoe Market Report
- Q3 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.
For Lake Tahoe real estate news, property listings, and events Sign up for our Newsletter.
Want to know the value of your Lake Tahoe home?
David Westall, Realtor
OLIVER LUXURY REAL ESTATE
CA BRE# 01796995
Leave a Reply
You must be logged in to post a comment.