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The number of pending sales of single-family homes is greater than the number of active listings in all regions, with the exception of lakefronts. This signifies low supply and high demand. In the Tahoe Sierra MLS, there were 151 single-family homes sold in June versus 82 in the same month last year, an increase of 84%. Active listings in this region are down 56% and pending sales are up 150% year-over-year. Well-priced homes are seeing a flurry of activity as soon as they come on the market and are quick to go into contract. In Truckee alone, June sales volume increased by 136% compared to last year. Active listings there are down 59% and pending sales are up 133% year-over-year. Demand for the Tahoe area is high as many are seeking an escape from surrounding urban areas.
~Bill Dietz, principal broker of Tahoe Luxury Properties