Active Listings $760,000K median home price
(down 4%week over week)
$595.00 price per sq ft.
(flat % week over week)
Pending Listings
$672,000K median home price
( up 7% week over week)
$507.00 price per sq ft.
(down 2% week over week)
Sold Listings
$645,000K median home price
(up 3% week over week)
$490.00 price per sq ft.
(up 5% week over week)
Year over year we are seeing at 23% increase in home prices in the Lake Tahoe, so shore market, however month over month were seeing a changing scenario with predictive values of 10-12% appreciation based on the sales data leading to this week’s stats and eblast. More to follow as we do track the continued strong but ever-changing market.
| The Absorption rate has stabilized back down to that of 1.7 months of inventory after a quick up tick. This, the mid days of fall, are showing buyer demand having recovered, stabilized and appears to be increasing with our traditional seasonal trends.
Both Buyers and Sellers and are back to negotiating with less than 2 months of active listing inventory on the market. The Fed’s are signaling consistently low however slight rise in interest rates through the foreseeable end of year. This (interest rates) along with low but steady home inventory, are fueling home sale’s affordability. Add the stabilizing and seasonally tempered home prices, the big picture for and active market bodes well as we lean into the next quarter In the rear view mirror, the recent events of the Caldor Fire, the recent snow and super chilly temps and Hwy openings, helps inform our local forecast. This for a steady return to not only a resilient “Tahoe Strong” community, but what you will note is an active fall and early winter real-estate market. Welcome back to the market where you are encouraged to come take a look and see what new and inviting 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!! Now that our roads have been made once again safe to travel to our beautiful area of So shore Lake Tahoe, as our community returns home and opens its doors, we celebrate the incredible team of fire responders, the entire team of dedicated men and woman that made our quick recovery possible. We Thank You, on behalf of the entire community and our team at Deb Howard and Company. Be safe out there. |
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