October 2015 Lake Tahoe Real Estate Market Analysis

Home Pricing is Coming Back in the 4th Quarter

The North Lake Tahoe and Truckee real estate markets continue to gain strength in the 4th quarter with sales volume up 7.5% over last year. Although the average and median home prices are down from 2104, we have seen positive momentum over the last 2 months and it seems that we might be able to claw our way back to positive territory by year end. Median home pricing in 2015 is almost back to last years numbers and I expect to see a strong finish to the year based on current pending sales and Q4 activity.

Over the last 2 months we have seen increased strength in the luxury segment of the market and if this pace continues we should end the year in positive territory, which would be fantastic seeing how 2014 was a record setting year. Currently there are 19 pending luxury home sales with an average price of $2.28M showing continued demand for Tahoe luxury properties. If you look at the market as a whole there are 142 pending sales with an average price of $911K which will help strengthen the market when those homes close escrow.

October 2015 Lake Tahoe Real Estate Sales Chart

*North Lake Tahoe and Truckee Single Family Homes Including Lakefronts. Data taken from the Tahoe-Sierra Board of Realtors MLS Areas 1-9

Year over Year Lake Tahoe Real Estate Market Analysis

January – October 2015 Statistics

814 Single Family Home Sales up 7.5%
Avg Marketing Time: 97 Days up 12%
Avg List – Sold Discount: 3.3%, down 27%
Average Price: $854K down 7%
Median Price: $558K down 3%
29 REO & Short Sales down 34%
10 Sales Below $200K up 30%
131 Sales over $1M down 13%
36 Sales over $3M down 20%
High Sale Price: $8.95M down 36%
Low Sale Price: $99.5K up 23%

January – October 2014 Statistics

753 Single Family Homes
Average Marketing Time: 85 Days
Avg. List to Sold Discount: 4.5%,
Average Price: $918K
Median Price: $575K
44 REO & Short Sales
7 Sale Below $200K
151 Sales over $1M
45 Sales over $3M
High Sale Price: $14M
Low Sale Price: $76K

Please contact me to discuss the Lake Tahoe and Truckee markets as I would be happy to answer any questions you have or provide insight into market conditions for your specific Tahoe/Truckee neighborhood. With high buyer demand this has been a busy summer for real estate sales, so if you are considering selling your Tahoe property lets talk today and discuss how I can help you sell your home for a price that will exceed your goals.