How’s the Tahoe-Truckee Market?

2020 was the craziest and highest-volume sales year of any in Tahoe history. The graph below says it all: we had the lowest inventory and the most sales ever.

The green area shows how many homes are on the market. The blue shows sales. The closer the tops are of each color, the more of a sellers’ market you have. There was a recognizable spike of inventory in May when it appeared that the American sky wasn’t actually falling. Then the buying frenzy hit and inventory never even came close to gaining ground.

Winners and Losers

It’s been a year of many winners and some surprising losers. Anyone selling after April this year was a big winner. Tahoe Donner had the most shocking increase in prices of any large subdivision and each month this summer it ratcheted higher and higher where comps more than 30 days old were nearly useless.

The Tahoe Basin had a wild summer but things didn’t go richter until early fall. In October an Agate Bay home got 24 offers and broke the Tahoe Donner record of 23 set in July. So across the board this year, most successful buyers had to navigate heavy multiple offer situations and write aggressive terms in order to come out on top.

Interest rates kept dropping to basement levels – jumbo loans at 3%, wow – and so even while buyers were paying higher prices than ever for homes, the low rates made up some of that delta.

And so who were the losers? Some buyers, even those with $1m cash, were simply unable to buy reasonable homes and so they are still out of the Tahoe market. Buyers who had been looking for more than 3-4 months saw the difference in prices being paid for homes than in the start of their search and became dejected. Inventory steadily decreased and their options became more and more limited. We are at a point now where inventory has never been lower.

What does this mean when the rubber hits the road aka when you are considering a sale?

It’s easy to get a high valuation of your property. But knowing how high to push and handling the intricate process is where there are vast differences in real estate agents. The listing process needs to be executed carefully and strategically. Experience matters. If you do it right, you may get non-contingent, high price, quick-close offers. If you don’t, you will either experience a very stressful sales process or you will find your home losing perceived value as it rots on the vine. Reach out to learn how I help buyers and sellers navigate the wild ride that is Tahoe-Truckee real estate.

To see my Summer 2020 Update, click here

Quick Market Data

For more detailed, Tahoe regional breakout stats and charts click here.

North + West Shore, single family and condominium sales

Truckee-Tahoe Donner, single family and condominium sales

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“We are very happy with the deal, Alex. You made it happen and you are a hero.”

– Neil and Karen B. Sellers of 3266 Edgewater. Closed price $8,199,000. Record breaking lakefront sale in Dollar Point.

“We enjoyed working with you and will be in touch when we want to sell more property. Thanks again for getting it sold.”

– Bonnie and Ken. Forty-year Tahoe residents with multiple properties and businesses. Had previously worked with another agent.

I start from the perspective of doing what’s right for you and your property. I shoot straight regarding value and how we can maximize the sales price. I am known for creative, high-quality marketing and effective negotiations. I provide personal attention to both you and your property. I keep a foot on the gas throughout escrow. I attend appraisals for unique and high-end properties to ensure value is attained by the buyer’s bank. I watch the details. I use the best stagers, photographers, web developers and the finest print and online media. The end result is your property standing head and shoulders above competing listings and your sale happening efficiently. This is especially powerful when coupled with Chase International: Reno-Tahoe’s regional leader with over $1.5 billion in annual sales and over $2.5B in 2020.

3266 Edgewater Drive. Sold by Alex for $8.199m

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