Tahoe Market: The Big Picture

Good things are happening in the Tahoe market. High end listings are seeing a lot of activity. Areas like Rubicon are re-adjusting their prices after a dismal time in 2011. Neighborhoods like Dollar Point which didn’t enjoy an exciting sales year in ’11 are finding themselves getting back on the train. Of course, not all places are feeling it yet. Sunnyside / Tahoe Park is in the doldrums but as inventory improves, and as shadows shorten with summer days, things should pick up (only 2 sales this year, both in the $300k’s).

Here are some interesting numbers:

Homes sold this year and listed last year have an average of 170 days on the market. Homes listed and sold this year have an average of 20 days on market. Ones which were listed last year sold for 89% of asking whereas 2012 listings are selling for 97% of asking. What does this mean? Older inventory is getting cleared out and newer listings are being priced for the current market PLUS the buyers are here and actively involved.

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