7.23.21

July 23rd, 2021

South Shore Stats

Active Listings Median:

$729,000

$527/sq ft.

Pending Sales Median:

$769,000

$499/sq ft.

Sold Listings Median:

$729,000

$506/sq ft.

Absorption rate of 2.24 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!!

Lake Tahoe Wildlife Care Celebrates Opening of New Outdoor Learning Center at New Campus

Lake Tahoe Wildlife Care (LTWC) celebrated the opening of their Outdoor Learning Center today, the first public component of their new $6 million campus. Thanks to a $30,000 contribution from Tahoe Fund donors including the Mathman Family and a $15,000 match from Tahoe Blue Vodka, the public will now have the opportunity to see and learn about some of the animals in LTWC’s care. A porcupine, an eagle, Kestrels and owls are a few of the animals the center will use for educational purposes… READ MORE HERE.

Covid Market Update

Housing continues to show signs of normalizing in California as high prices and a competitive, gradually healing economy continue to bring more sellers back into the market. In addition, C.A.R. reported last week that June was another double-digit month for both sales and prices in the state. COVID cases have started to rise again and buyer fatigue continues to push sales down from 15-year highs. However, rates have started to ease modestly and that may combine with slightly more inventory in coming weeks to fuel a rebound in potential homebuyers…READ MORE HERE.

Fun Fact

Tamarack Fire

The Tamarack Fire started as a lightning strike in the Mokelumne Wilderness on a rocky ridgetop with sparse fuels and natural barriers to fire spread. Friday, July 16 high winds caused rapid downslope fire spread. With this change in the fire, resources were quickly dispatched to the site. Additional resources were ordered, including very Large Air Tankers (VLAT), Single Engine Airtankers (SEATS) and helicopters.

The Type 2 Great Basin Incident Management Team #3 assumed command of the fire on Sunday, July 18 at 6 a.m. transitioning to the Rocky Mountain Type 1 Incident Management Team on Tuesday, July 20. Many Federal, State, and Local government agencies as well as organizations and businesses are cooperating to make progress on the fire.

This is a full suppression fire. Public and Firefighter safety is the number one priority. Minimizing impacts to local communities, private property and structures, natural resources, highway corridors, and recreation improvements are key considerations. Our intent is to keep you fully informed on the fire’s activities and our suppression efforts as the incident progresses. READ MORE HERE.