• Active Median- $1,100,000 at $610 per sq ft.
  • Pending Median- $667,000 at $520 per sq ft.
  • Sold Median- $715,000 at $503 per sq ft. 
Absorption rate of 1.35 month of inventory; while this is some improvement, we’ll continue to keep an eye on the inventory increase that is predicted on the near horizon. This will allow for a slightly more balanced market and for a more diverse inventory to appeal to the buyer’s needs.
However, pending sales continue to outpace the inventory, which predicts the upcoming market as an aggressive seller’s market. Keep an eye on days on market (DOM), along with the list to sales price % which is noticeable at 135% of listing price as an average. Lastly the price appreciation, driven by supply and demand, is continuing to push the price points up and this week over last was a noticeable 5% on an average.
The big question, looming large in everyone minds is how long these prices will continue to appreciate and will they be sustainable.
Supply and demand are the key contributors while interest rate play a huge roll along with employment demands and constraints. All of which indicate that we will continue to see all of the above i.e. increased supple as selling start feeling the urge to move about, demand has continued to surge as the buying public looks for safe, healthy and affordable communities to grow their family, interest rates are suppressed to encourage and stimulate the economy and employers are feeling their way through the remote options for team employees to be productive! This spells a continued high tide for our amazing Tahoe Mecca for the foreseeable. More to follow.