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According to the Tahoe Sierra MLS, in May, single-family home sales were up 32% compared to April while the median price dropped by 14%. The number of single-family homes actively listed for sale jumped 67% between those same months, an inventory increase that is typical of this time of year as we head into summer months and the active real estate season. Compared to the same time last year, active listings are down 43% and median price is up 68%, indicating that our market still feels the spike in demand generated by the pandemic. All micro-regions, with the exception of lakefronts (which had zero sales in April), experienced a dip in median price since last month, suggesting that we may see some leveling out as summer inventory comes to market.
~ Bill Dietz, principal broker of Tahoe Luxury Properties