Dave Westall
Lake Tahoe Real Estate

(530) 448-9882

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Tumblr
  • Twitter
  • YouTube
  • Home
  • Search
    • Search All Properties
    • Search by Map
      • Neighborhood Map
    • My Featured Listings
    • New Listing Notifications
    • Register / Login
  • Sellers
    • Tahoe Market Reports
      • Tahoe Neighborhood Market Reports
    • My Recent Sales
    • Dave’s Real Estate Marketing Plan
      • Selling Lake Tahoe Real Estate
      • Listing Videos
    • What’s My Home Worth
    • Client Testimonials
  • Buyers
    • Search the MLS
    • New Listing Notifications
    • My Featured Listings
    • Client Testimonials
    • Tahoe Market Reports
      • Tahoe Neighborhood Market Reports
    • Mortgage Calculator
  • Neighborhoods
    • All Tahoe Neighborhoods
    • Truckee Golf Real Estate
      • Martis Camp Real Estate
      • Lahontan Real Estate
      • Schaffer’s Mill Real Estate
      • Gray’s Crossing Real Estate
      • Old Greenwood Real Estate
    • Lake Tahoe Luxury Real Estate
      • Lake Tahoe Lakefront Homes for Sale
      • Lake Tahoe Real Estate and Homes for Sale
      • Truckee Golf Real Estate
      • Tahoe Ski Resort Real Estate
    • Lake Tahoe Real Estate
      • North Shore Lake Tahoe Homes
        • Tahoe City Real Estate
        • Dollar Point Real Estate
        • Carnelian Bay Real Estate
        • Agate Bay Real Estate
        • Tahoe Vista Real Estate
        • Kings Beach Real Estate
      • West Shore Lake Tahoe Homes
        • Sunnyside – Tahoe Park Real Estate
        • Homewood Real Estate
        • Tahoma Real Estate
        • Meeks Bay & Rubicon Bay Real Estate
    • Tahoe Ski Resort Real Estate
      • Squaw Valley Real Estate
      • Alpine Meadows Real Estate
      • Northstar Real Estate
      • Homewood Real Estate
    • Tahoe Donner Real Estate
    • Truckee Real Estate
  • Tahoe Info
    • Tahoe Market Reports
      • Tahoe Neighborhood Market Reports
    • Winterizing Your Tahoe Home
    • Tahoe Resources and Info
      • Lake Tahoe Area Guide
      • Tahoe Relocation Guide
    • Tahoe Truckee School Guide
  • Blog
    • Tahoe Real Estate Blog
    • Tahoe Market Reports
    • Featured Listings
      • Ski Resort Real Estate
      • Tahoe Lakefront Real Estate News
      • Tahoe Golf Real Estate
      • Truckee Real Estate
        • Prosser Real Estate
        • Tahoe Donner Real Estate
        • Gray’s Crossing Real Estate
      • West Shore Real Estate
    • For Your Home
      • Tips and Advice
    • Lake Tahoe Community
      • Lake Tahoe Events
      • North Lake Tahoe Real Estate News
    • My Recent Sales
  • About
    • About Lake Tahoe Realtor Dave Westall
      • Westall Real Estate Team
    • My Recent Sales
    • Testimonials
  • Contact
    • Newsletter Signup
    • Contact
Home » Market Reports » Lake Tahoe Real Estate November 2019 Market Report

Lake Tahoe Real Estate November 2019 Market Report

December 19, 2019 by dwestall Leave a Comment

Buyers are Making Moves in the 4th Quarter

As we move into the home stretch of the 4th quarter, we are seeing an increased number of closed sales as buyers are making moves going into the ski season. Buyers remain confident in the North Tahoe, CA and Truckee real estate markets which is why we saw a 4% increase in sales volume in the month of November, an 8% increase in the median home price and a 4% increase in the sale of $1M+ homes. This is great news as 2019 had a rough start due to a severe winter, lack of inventory and confusing economic signals. Typically, our markets take off by May, but this year the summer selling season didn’t show its face until mid-July, which caused some issues.  Luckily, from July onwards, a robust marketplace took hold with significant sales volume and an increasing median home price.

Lake Tahoe Real Estate Market Report November 2019 Highlights

  • The median home price is up 3% at the end of October to $745,000
  • Luxury home sales account for 29% of all sales in 2019
  • 2019 High is a $37M Tahoe City lakefront, Oliver Luxury Real Estate represented buyer
  • Gray’s Crossing sales volume is up 36% with the median home price up 16% to $1.6M
  • In Lahontan, the average home price is up 7%, the median is up 18% and the average price per square foot is up 7.5% to $648.66. This large jump is mostly due to a higher volume of new construction home sales.
  • 30 Martis Camp luxury homes have sold this year with an average price of $5.3M which is up 9%, median home price is up 9% to $5.1M and the average price per sqft is up 6% to $1,169.62 per square foot.

Compelling Listings are Selling Quickly

Currently there are 86 single family homes in escrow and 19 of these listings were on the market for 20 days or less. This is an indicator that buyers are hungry for quality inventory and when compelling listings hit the market, buyers are quickly making moves. The luxury market has been robust throughout the year and 30% of the current pending sales are in the $1M+ price range, which should have a positive impact on the market as we finish up the 2019 selling season.

Since the market began to correct in 2012, the trend has been that buyers are looking for new homes, homes that are in good condition/remodeled, homes that are set in superior locations and properties that offer significant value. This trend remains true and will carry into 2020, so sellers will need to accommodate buyer demands or risk longer than average marketing times and possibly leaving money on the table.

Year over Year Lake Tahoe, CA Real Estate Market Conditions and Value Trends

Jan – November 2019 Statistics

  • 966 Single Family Sales Down 5.4%
  • Avg. Marketing Time: 66 Days Up 3%
  • Avg. List to Sold Discount: 4.1% Up 12%
  • Total Sales Volume: $1.09B Down 11%
  • Average Price: $1.13M Down 7%
  • Median Price: $745K Up 3%
  • 4 REO & Short Sales Down 43%
  • 16 Sales Below $300K Even
  • 276 Sales over $1M Down 6%
  • 55 Sales over $3M Down 28%
  • High Sale Price: $37M Down 8%
  • Low Sale Price: $110K Down 35%

Jan – November 2018 Statistics

  • 1,021 Single Family Homes
  • Average Marketing Time: 64 Days
  • Avg. List to Sold Discount: 3.6%
  • Total Sales Volume: $1.25B
  • Average Price: $1.22M
  • Median Price: $722K
  • 7 REO & Short Sales
  • 16 Sales Below $300K
  • 292 Sales over $1M
  • 76 Sales over $3M
  • High Sale Price: $40M
  • Low Sale Price: $168K

Pricing a Home Correctly Remains Paramount to Sales Success

Tahoe properties that are overpriced or not aesthetically pleasing have been difficult to sell in 2019, which is why we saw numerous price reductions in the 3rd and 4th quarter. Currently there are 41 homes in escrow (out of 86) that have received price reductions and the average marketing time for these properties is 145 days, which is a 46% longer marketing time than the average home (66 days on avg). If you are looking to sell a property in 2020 you will want to work with your Realtor to price your home effectively, make sure that your home shows well and that you have eliminated as many objections as possible.

New Snow is Good for Q1 2020 Sales

We are fortunate to have received a good amount of snow to start our winter off and the ski resorts are all humming going onto the holidays. A strong holiday season in Tahoe typically helps push buyers to make purchase decisions which should have a positive impact on the first quarter of 2020. I expect to see low inventory levels in the first half of the year, which will be frustrating for buyers but good for sellers. If you see a house that you love, make a move quickly as buyer activity remains robust and the best homes will sell quickly and for top dollar.

Lake Tahoe Real Estate November 2019 Market Report Sales Chart

Lake Tahoe Real Estate November 2019 Market Report - Sales Chart

Click to Enlarge

Lake Tahoe Real Estate November 2019 Sales Volume Chart 

Lake Tahoe Real Estate November 2019 Market Report - Sales Volume Chart

Click to Enlarge

*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 Real Estate Market Report Archive

  • View All Tahoe Real Estate Market Reports
  • November 2018 Lake Tahoe Market Report
  • November 2017 Lake Tahoe Market Report

Contact Dave Westall – Lake Tahoe Real Estate Agent

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.

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?

 

Image of Westall Real Estate logo for Lake Tahoe Real Estate Q3 Market Report

(Visited 83 times, 1 visits today)

Filed Under: Market Reports Tagged With: Lake Tahoe luxury real estate, lake tahoe market analysis, lake tahoe real estate, lake tahoe real estate market, Lake Tahoe Real Estate market report, lake tahoe realtor, market analysis, north lake tahoe real estate, North Lake Tahoe Realtor, Tahoe Real Estate, Truckee Golf Real Estate, Truckee luxury real estate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

New Listing Notifications
What's My
Home Worth

Search Listings

$
$

Popular Posts

  • Modular Home Construction on the West Shore of Lake TahoeModular Home Construction on the West…
  • Top 10 Lake Tahoe Luxury HomesTop 10 Lake Tahoe Luxury Homes
  • SOLD! Breathtaking Serene Lakes Lakefront CabinSOLD! Breathtaking Serene Lakes Lakefront Cabin
  • Oliver Luxury Real Estate Acquired by Corcoran Global LivingOliver Luxury Real Estate Acquired by…

Categories

  • 2015 Sales
  • 2016 Sales
  • 2017 Sales
  • 2018 Sales
  • 2019 Sales
  • 2020 Sales
  • For Your Home
  • Lake Tahoe Community
  • Lake Tahoe Events
  • Listing Videos
  • Market Reports
  • My Recent Sales
  • North Lake Tahoe Real Estate News
  • Ski Resort Real Estate
  • Tahoe Golf Real Estate
  • Tips & Advice
  • Truckee Real Estate
  • Uncategorized
  • West Shore Real Estate

Follow me on Blogarama

Corcoran Global Living

319 West Lake Blvd
Tahoe City, CA 96145

530-448-9882
Contact Dave

Privacy Policy

Dave Westall

Dave Westall Lake Tahoe Real Estate and Truckee RealtorTahoe City Realtor Dave Westall is the best at helping clients achieve their real estate goals. Whether buying or selling Tahoe and Truckee real estate, Dave is your trusted partner. Meet Dave Westall

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Tumblr
  • Twitter
  • YouTube
Lake Tahoe ›
Tahoe City ›
Truckee

CA BRE# 01796995   •   sitemap   •   admin   •   ©2021 All Rights Reserved  •  Real Estate Website Design by IDXCentral.comPrivacy Policy