Tahoe Real Estate market performs quite differently than the national average. Even in an area the size of Lake Tahoe, market trends can vary dramatically from neighborhood to neighborhood. When you are contemplating a large financial commitment such as the purchase or sale of a home, your neighborhood’s micro-market data can make a big difference in your financial decisions.
Sierra Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make better real estate decisions where it matters to you. If your community is not listed, or if you’re unsure what the data means for your transaction, simply contact one of our local associates —they will be happy to pull a report for you and help you interpret the results. Lake Tahoe Sales
$ Volume 2015
$ Volume 2016
The Lake Tahoe real estate market boasted a 30% increase in sales volume with a big jump in sales in Truckee and a moderate increase in South Lake, plus a $25 Million lakefront sale in Incline Village that boosted totals there. With median prices dipping in some areas and increasing 5-10% in the busier locals, the overall Tahoe-Truckee market is still seeing a steady growth in pricing and sales.
Click below to view detailed sales reports for Incline Village, East Shore, South Lake, West Shore, Ski Resorts, Truckee & SW Reno markets:
View Lake Tahoe 2016 First Half Sales Reports
Incline Village Market Insight
Overall, condo sales jumped the most this spring, as did homes under $2 Million. Single family homes are taking longer to sell averaging over 300 days on market, while condos are selling more quickly than in 2015. The bulk of home sales are in the $1M- $2M price range, with larger inventory in this range. There are fewer lakefront homes on the market in Incline Village, although pricing for shared HOA lakefront properties is attractive. With a strong start to the summer selling period, we look for a jump in sales through our 3rd quarter which is typically the busiest time for sales at the Lake. The weather has been beautiful with Lake levels making boat launching easier, and lots of residents and visitors alike enjoying summer at Lake Tahoe.
Incline Village 2016 Sales 1st Half
Incline Village 2015 Sales 1st Half
Sales $ volume increased slightly for Incline Village single family non-lakefront home sales for first half of the year, and median sales price increased 13% from $872,500 to $983,750. The increase in sales occurred mainly in the $1M- $2M price range, with 27 sales this year as compared to just 14 for the same period last year. Sales priced under $1M and sales priced $2M- $3M remained steady for the period, yet $3M and above home sales slowed for the first half with just 1 sale over $3M in 2016 as compared to 4 sales in the first half of last year, and 14 sales over $3M for all of 2015. With 27 homes currently in escrow, we should see increased sales activity moving into the third quarter.
Condo sales were steady with 98 units sold in the first half of 2015 and 2016, although there was a 16% increase in $ volume for the first half of 2016. Average sales priced increased 15% to $525,147, and days on market decreased from 229 to 153, on average.
The Lakefront market jumped for condo sales, with 5 lakefront condo sales averaging just over $2 Million, with no sales recorded for the same period in 2015. There was one lakefront estate that sold, the notable “Sierra Star” for just over $25 Million with 3 lakefront homes and a 60 car underground garage with guest apartment above. There were 2 lakefront home sales for the same period in 2015. It is notable that only 5 direct lakefront homes are still on the market in Incline Village, and just 7 in Crystal Bay. There are a few HOA lakefront homes available, notably 1565 and 1580 Vivian Lane with access to a private HOA beach, pier and boat buoys.