Get a neighborhood snapshot of current listings, average sales prices and current days on market:
As the Lake Tahoe/Truckee region is largely a second-home market for many buyers who own primary homes in the Bay Area, real estate activity there has an undeniable effect in the region. As Bay Area housing markets heated up again in the second quarter, so did Lake Tahoe, which saw a brisk pace of sales in the latter part of the quarter, helped by more homes on the market.
Buyers felt a greater sense of urgency, and homes sold faster than in the past couple of years. The brisk pace of sales fueled absorption rates, and buyers scooped up the extra inventory that hit the market. Sellers were also more realistic than in years past, which allowed for a greater balance between buyers and sellers. Home price appreciation remained level, and the region's median price increase was mostly driven by a higher share of bigger home sales.
Looking Forward: Unlike in the Bay Area, the Lake Tahoe region doesn't typically see a late-summer slowdown; vacationing families may decide to purchase a second home before the summer ends and children return to school. We expect the current healthy sales activity to continue for the next four months, although it will likely begin to soften after Thanksgiving.
Defining Lake Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of: Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the charts includes single family homes in these communities.