Nov. 16, 2016
Over the past year, the average sales price rose in Tahoe Truckee by 8%. We’re now marking a transition from a buyer’s market to a seller’s market.
There are many great Truckee area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 582-6900 for a FREE home buying consultation to answer any of your real estate questions.
How did October look for the Tahoe Truckee real estate market?
Right now, we’re making the transition from a buyer’s market to a seller’s market. Our overall inventory is shrinking—we went from more than 1,000 homes and townhomes on the market at the beginning of last month to just 800 by the end of it. We also saw more than 190 houses and condos come off the market.
It’s not uncommon to see frustrated sellers want to take advantage of getting some rental income at the end of the year, so we’ll probably see most of those properties come back on the market in April or May. In the meantime, the sellers that decide to stay the course can take advantage of the low inventory.
Sellers can potentially take advantage of the low amount of inventory.”
From October 2015 to October 2016, our average sales price rose 8%. In certain neighborhoods, though, pricing has remained flat or even dropped a little bit. For example, in Tahoe Donner, the current average sales price is $634,000. In October 2015, it was $643,000.
Why the fluctuation? With a lower amount of inventory, prices start creeping up. What happens then is that we start getting more inventory, and when the buyer activity doesn’t match that increase, prices tend to flatten out.
If you are interested in capturing this great seller’s market we’ll be experiencing from now through the end of March, please don’t hesitate to call me or shoot me an email. I’m happy to help!