Tahoe Market: Foot on the Gas

The market is not quite in cruise control but it certainly is headed that way. The big picture we all know is that prices are still down and of course interest rates are low. Locally, the big difference between this year and other recent ones is this: there’s a market within a market which is as healthy as it could be. So which market is it?!

Homes that are priced sensibly are seeing offers within 60 days and those which are also sited in better neighborhoods (lakefront HOA’s especially) are seeing offers even more quickly. Chamberlands, Dollar Point, Tahoe Swiss Village, Agate Bay and Rubicon all have houses in escrow which were on the market fewer than 14 days – some had multiple offers. Add in other desirable neighborhoods like Tahoe Pines and McKinney Shores and here some quick stats on those homes in escrow now:

LIST PRICE: $1,375,000 $259,000 $728,546 $648,500 $8,742,559
91 0 34 12

Note: There have been 25 sales in these neighborhoods so far this year; there are 12 in escrow; in all the Tahoe Basin lakefront HOA neighborhoods, there are 53 active listings.

This is good for both buyers and sellers because there’s pressure on sellers to prepare for market well and to price smartly. Conversely sellers with quick action can sense a little of that once-familiar driver’s seat. Bottom line: those who expect to buy or sell near the current fair market value are having good things happen.

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