How's the Market?

Almost 50 new developments are currently underway in Reno/Sparks, with a cluster of new growth in the Southeast.

The second quarter this year started with very limited single-family inventory at affordable price points. When the pent-up demand was unleashed on a new listing that showed well in a great location, the result was a white-knuckle experience for buyers.

Here’s what happened in the real estate world last year.

The snowiest winter in recent history gave a boost to Tahoe/Truckee real estate sales. In this new column, veteran journalist Jackie Ginley offers a detailed analysis of the current market compared to the recent driest winter.
 

The total number of homes sold was down 4 percent from the third quarter of last year. But prices rose almost 10 percent to a median high of $672,250.  That’s a number we haven’t seen in Tahoe since 2005, when the median price of a single family home hit $737,500.