Dock with lake, mountains, and sunset in the background
Our North Tahoe – Truckee Real Estate Market continues to be increasing in Units Sold, Total Dollar Volume and Median Price The level of Demand is still amazingly high, and the level of Inventory remains extremely low. It seems that properties are going into contract at the same rate and new listings are coming on the market. Single family homes are selling at a slightly faster rate than condominiums. It is definitely a Sellers’ Market!
Here are the February statistics (as of Feb. 23) for the sales of Single-Family Homes and Condominiums in West and North Tahoe and Truckee, excluding Donner Summit, Sierra County and surrounding areas compared to all of February 2020.
February 2021 February 2020
Total Residential Sales – 76 Units sold Total Residential Sales – 54 Units sold for
for $131,779,890 in Sold Volume $41,173,775 in Sold Volume
Median Sold Price $1,052,495 Median Sold Price $579,500
Year over Year Change
Increase in Units Sold – 22 +40.7%
Increase in Volume – $90,606,115 +220%
Increase in Medial Price – $473,000 +81.6%
Although it is a Seller’s Market, in my opinion Buyers interested should not wait to act. I expect to see property values to continue to raise and at some point interest rates will raise. It will cost more to buy a property in our area this summer or nest fall that at todays prices. Call me if you would like to discuss your Real Estate needs.
*Greg Rankin and Chase International do not guarantee the accuracy of this information. Statistical information gathered from the Tahoe Sierra Multiple Listing Service. Not all real estate transactions in our area go through MLS, therefore, this information may not be completely accurate. CalDRE License #00826938
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