The Storm Door opened and we are measuring the snowfall in FEET! What a great start to the season as the ski areas should be in great shape for the holiday season!
As we close the month of November, let’s take a look back at the Real Estate Market for 2018. For the 3rd year in a row, Dollar Volume exceeded $1,500,000,000. Driving this impressive feat has been the sale of ultra luxury homes with 6 homes selling over $10 million and 3 of those over $20 million. Volume by properties sold will end up just below the record 2017 numbers, but they look very strong with still 200 deals pending. Average sold price is holding around $1,015,000 for 2018 versus $810,000 in 2017 for a dramatic 20% increase. Median Home prices also jumped 10% from $570,000 in 2017 to $630,000 in 2018. Interest rates have crept up slightly year over year, but they are still close to record lows and they just announced that Fannie Mae and Freddie Mac loan limits will be increasing in 2019 to accommodate the rise in prices nationwide. So it’s still a great time to be a buyer. The last two years have been strong sellers markets in Lake Tahoe and while the future is unclear, it is still a great time to be a seller in this market as Lake Tahoe continues to prove a super popular destination for primary and secondary hoe owners. Let me know how I can help with your real estate needs. I’m here to work for you and make your experience a positive one.