In the month of August, the Tahoe Sierra MLS saw a 19% increase in the number of single-family homes sold from July, alongside a 19% decrease in median price. More significantly, the median price is the lowest we have seen since January of 2021. Notably, the sales volume dropped 26% in comparison to last year, while the number of active listings climbed 101% from August 2021. With a resurgence of supply, there is a conspicuous lack of urgency as buyers wait to see if prices continue to fall, emphasized by the fact that we have seen only seven lakefront sales this year to date, less than half of what is typical. Well-priced homes will sell, as buyers who have been waiting on the sidelines are ready to make offers without the competing frenzy of buyers.
~ The Dietz Group at Tahoe Luxury Properties
