• Active median price is currently $1,271,880
  • Pending median price is currently $585,000
  • Sold median price is currently $625,000
The absorption rate is finally a bit higher than months past as the median home price has been climbing and days on market increasing accordingly. Our active listings have dropped this week over last, exacerbating the inventory vs demand ratio. This impacting the absorption rate, which is a barometer of the market supply to demand, dropping below 1% of inventor anticipated to be sold within the coming month. This ultimately impacting prices as more buyers compete for fewer homes thusly driving up the price points. Pending and sold sales are holding steady with a slight increase in closed sales category.
There is anticipation that increases in inventory are likely as sellers start planning to make moves now that vaccines are finally coming into the health markets and to the people who so dearly need them. Additionally, many vacation rental properties will be cycling out of their VHR permits as Measure T impacts are coming into play here in the So Lake Tahoe city jurisdictions. We will be keeping an eye on this activity and sharing market conditions as it evolves.