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All micro-regions in October experienced a decrease in the number of single-family homes sold compared to the previous month, with the exception of lakefronts, which remained flat. There was also a decrease in single-family homes actively listed for sale. This is typical of the season. In the Tahoe Sierra MLS, sales volume dipped 23% from the previous month while median price dropped 1%. When compared to the same time in 2020, we see that single-family home sales in the TSMLS dropped 54% while the median home price is 30% higher than last year. In comparison to pre-pandemic times, October 2021 sales volume decreased 27% over October 2019 while median price climbed 62%. Although winter months commonly reflect a slowdown in real estate sales, with pandemic-time sales being a likely exception, there are indications that activity is beginning to ease, and median prices are showing the first signs of decreasing and/or leveling out.
~ Bill Dietz, principal broker of Tahoe Luxury Properties