While it was way overdue, we got some solid snow last week and made for the best weekend of skiing for the year. Ski areas were able to open more terrain and lifts and the skiers and snowboarders were out in force chasing fresh powder turns. We are still way behind average snow fall totals and it’s kind of crazy to think about what things looked like last year. Tahoe Open Snow shows the snowfall comparisons, which is staggering, but remember, winter is only about half way done, so February and March hold plenty of opportunity for a strong finish.
The Tahoe/Truckee Real Estate market has started out pretty strong in 2018. Last year started off fairly slow because most of the month there was some sort of precipitation falling and travel conditions were treacherous and people were chasing powder when they had the chance to be here. This year, we have seen 146 newly listed properties versus 134 in 2017. Properties sold will end up nearly the same year over year with just under 100 homes selling in January. The interesting figures are that January 2018 average sold price is $943,000 versus $652,000 last year and we are seeing far fewer listings expire with 91% of properties listed selling versus 70% last year. Low inventory is most likely the cause as we currently have 1,003 active properties, which is several hundred properties lower than normal. In the peak season, this market gets close to 2,000 active properties. With two record setting years in a row, homeowners that have considered selling, this winter may be a great opportunity to take advantage of less competition and solid buyer demand. I welcome any questions or conversations to help you figure out if now is the right time. Buyers, don’t get discouraged, homes are coming on the market every day, but you may have to wait a little longer to find the right home. Being prepared to jump on the house you want is really important, so let me know how I can help you with that.
A great sign of growth and strength in the region is the new developments currently about to launch in Squaw Valley: The Palisades at Squaw – A brand new development featuring 30 town homes and 33 custom home sites. The Plumpjack Redevelopment will feature a complete renovation of the well known hotel at the base of Squaw Valley, but it will also offer 34 condo units for a very exclusive opportunity for luxury, proximity and privacy in the valley. For more information, please let me know.
Have you ever wanted to build a custom home in Truckee? Check out The Sierra Bluffs! I’m very excited to represent this development with nice sized lots for custom homes with views of the Sierras on both sides and plenty of sunshine! There are only 6 lots left!
Here are the New Listings in the last week.
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