The number of single-family homes sold during the month of September in the Tahoe Sierra MLS area dropped by 25% in contrast to 2021, while the median price was down 6%. Compared to the previous month of August, sales volume fell 14%, while median price increased by 10%. The decline in sales volume indicates market activity is slowing. The expectation is that median price will follow, although it is slower to react, as sellers still aim for the pricing the market was garnering in the first half of the year. Climbing interest rates may also impact buyer activity.
~ The Dietz Group at Tahoe Luxury Properties