• Active Listings Median – $799,000 at $529 sq ft  
-Last Weeks- $799,500 at $547 per sq ft. 
  • Pending Sales Median – $769,000 at $501 per sq ft. 
-Last Weeks- $750,000 at $478 per sq ft. 
  • Sold Listings Median – $729,000 at $500 per sq ft. 
-Last Weeks: $771,000 at $529 per sq ft.
Absorption rate of 2.3 months of inventory; This is definitely a sizable improvement on the buy side pressures of past limited inventory albeit, still a seller’s market.
We’ll continue to keep an eye on the inventory increases that is being seen in the market as predicted. This will allow for a more balanced market and for a more diverse inventory to appeal to the buyer’s needs. Sellers are still in the driver’s seat with less than 2 months active listings on the market.
3-5 months inventory is considered the range for an equal playing field when buyers and seller negotiate, providing additional options for buyers to consider when making an offer with a bit more leverage. This is a good sign considering the buyer exhaustion experienced over the past year which has soured the buying experience.
Welcome back to the market where you are encouraged to come take a look and see what new and exciting homes are available. Or, if you’re new to the market we’ll bring you up to speed and get you on the right path to your Tahoe home ownership!!