I know that your life, like mine, looks completely different from what it did a few weeks ago and that can be scary and unsettling. Business in many areas has been disrupted. I want you to know that in the North Tahoe and Truckee real estate market the activity is better than it was in the same time last year. Here are the statistics for activity of both Single Family Homes and Condominiums, excluding Donner Summit, Sierra County & Surrounding Areas ;
- Between 3/1/20 – 3/17/20 there were 66 New Listings with a Median List Price of $779,000
- In the same period last year there were only 51 New Listings with a Median List Price of $599,000
- That was a 29% Increase in New Listings with a 30% Increase in List Price
- 34 properties went into escrow, 16 of those in the last week (47%).
- Of those that went into escrow 12 were priced over $1M (35%), 22 priced under $1M (65%).
- Currently there are 353 Active Listings, 197 priced under $1M (55%).
The thing to remember is that interest rates right now are at record lows, there are good properties that are priced to sell and historically over time real estate has out preformed the stock market. This may be a great time to purchase a second home or for an existing home owner to move up in the market.
Contact me if you would like to discuss the real estate opportunities in the North Tahoe truckee market.
Greg Rankin and Chase International do not guarantee the accuracy of this information. Statistical information gathered from the Tahoe Sierra Multiple Listing Service. Not all real estate transactions in our area go through MLS, therefore, this information may not be completely accurate. CalBRE License #00826938