1.) Winter has returned!
Truckee got more than a foot of snow today, and was only forecast to get around half off that. There is a bigger storm coming on Thursday, so the skiing and riding is about to get much better.
2.) available home inventory has hit the lowest level I have seen in the 12 years I have been in Truckee real estate!
Today in Tahoe Donner, a bellwether for the Truckee and North Tahoe market, the number of single family homes for sale is 18. Eighteen homes, out of over 5000 homes, are for sale. This represents around 1/3rd of 1% of the existing homes in Tahoe Donner. This is a very strong seller's market. I should mention a couple of caveats. One, we usually hit our low inventory level for the year in February or March, and inventory will start climbing in the spring, as it does every year. Secondly, with rates starting to climb and the possibility of an inflationary environment creeping in, buyer demand may even strengthen this year. For current owners, this is a great situation to be in. And for those looking to purchase property here, there will be a reasonable time this summer when inventory starts to creep up. Being patient will be the key to finding a good home at a fair market price. If you are looking to buy or sell this year, let's check in and talk about your timing. In the mean time, let's ski!