Miracle March Continues – 3/12 Tahoe/Truckee Update

With nearly 8 Feet of snow falling on the mountains last weekend, it’s exciting to hear that more FEET are forecasted for this week.  The Tahoe Open Snow Forecast is calling for several days of precipitation this week, resulting in multiple feet of snow piling up.  I hope that everyone was able to get out and enjoy the amazing snow that we had.  The amazing part was that each day of the weekend had big refills overnight and Sunday ended up being a lot of people’s best day of the season.  Hopefully this next set of storms delivers more of the goods!  If you plan to come up, make sure you check the roads, I heard many horror stories about those that braved the trip last weekend.  Leave early and give yourself plenty of time.

Don’t like ski area traffic, check out The Palisades at Squaw, now selling! Stop by and say hello and take a tour.

Great new house in Truckee, just hit the market, 10163 Winter Creek Loop If you or someone you know would like a tour, please let me know.

As we rapidly approach the middle of March and the end of the First Quarter of 2018, the market statistics continue to look strong.  It’s hard to believe that we just had Daylight Savings, but the extra daylight last night was really a welcome experience.  In 2017, Q1 was a solid month, despite most people’s focus being on the record snowfall and playing in all of it.  There were 509 new listings with 364 properties sold.  395 of those new listings were homes and 307 homes sold.  So far in 2018, there have been 427 new listings, 301 of which are homes and 302 have sold, 234 of which were homes.  So maybe a slight lag year over year, but still pretty consistent.  The big difference year over year is the $115,000 jump in average sale price, or a 14% increase.  The median home price remains approximately $520,000 year over year.  For those worried about a bubble, or sustainability of this market, I don’t see many signs of leveling off or dipping any time soon.  With low inventory and strong buyer demand, prices may continue to rise.  If you have ever considered selling, please let me know, our market needs inventory and it is definitely a sellers market for those that price their homes competitively.  Buyers, the best thing to do is get yourself ready to act fast on a house that comes on the market that you like.

Here are the New Listings in the last week.

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