Greetings and happy February! I hope that winter is going well for you and that you only had to live through Groundhog Day once. Lets have a look at the January sales numbers. In Tahoe Donner, our bellwether for Truckee, there were 15 sales in January compared to 14 the previous year. The average sale price was $812,500 compared with $743,000 the previous January. There are currently 28 single family homes active in Tahoe Donner, which is around one half of one percent of available homes actively for sale, meaning supply is scarce! Demand continues to be high for homes and condos here, despite the weak snow fall we have seen so far this year. This could be a result of many things, not the least of which are:
1.) The expected rise of interest rates this year and for the foreseeable future
2.) The possible resurgence of an inflationary environment - which may bode well for real estate across the board
3.) The finite number of homes and homesites available in our market
Right now the sellers are holding all the cards, and if you are considering selling your home in Truckee or North Tahoe, right now may be your best time. If you are looking to buy here, waiting until summer may offer the luxury or more choices of properties and relatively lower competition for each listing.
Let me know if you have any questions, I'm here to help!