With the first week of October already in the past, it’s a great opportunity to review a very strong third quarter in the Tahoe Real Estate Market. New Listings topped out at 1,010, which is 17% higher than Q3 2016 while there were 703 Sold Properties up from 678 in 2016. Average price is about the same, around $850,000, Median Price has had a healthy growth from $500,000 to $525,000 year over year and Days on Market is similar at 82. Properties are selling for 96% of asking price. What’s interesting to see is how this market came to life in the third quarter after a slower than normal first half. By comparison, the total sales volume was $595,000,000 in the First Half of 2017 and Q3 was $540,000,000. October usually starts the transition from the busy summer season to a quieter fall period, but I continue to see strong buyer interest and have been discussing the sales process with several sellers. So while the beginning of our sales cycle was slow to get started, we appear to be making up for it late in the season.
The weather is absolutely perfect right now! With abundant sunshine and temperatures in the 60’s during the day, we are getting crisp chilly nights, often in the 20’s and 30’s. The foliage is really beautiful as the leaves change and their colors are so vibrant against the Tahoe back drop. It’s a great time to be in the Sierras.
Here are the new listings in the last week:
Land For Sale
Condos/Town Homes For Sale
Homes For Sale
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