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Throughout the month of July, 140 single-family homes sold within the Tahoe Sierra MLS, with a median price of $1.22 million. By the month’s end, 167 homes were in pending status and 160 were actively listed for sale. Compared to 2020, there is a 38% decrease in sales with a 44% increase in median price. However, with July 2020 reflecting a major surge in sales after pandemic stay-at-home orders had been lifted, combined with an 11% drop in inventory, year-to-year numbers do not necessarily represent a massive slowdown in the market. Compared to July 2019, sales volume increased 57%, median price jumped 74%, active listings are down 18%, and pending sales are up 11%. Supply is reaching historic lows, while median price is hitting historic highs. Given the market fluctuation in 2020 due to the pandemic and subsequent restrictions, we continue to look at the bigger picture by comparing both to 2020 and the more stable 2019.
~ Bill Dietz, principal broker of Tahoe LuxuryProperties
