Within the Tahoe Sierra MLS region, 104 single-family homes sold during the month of August, with a median price of $1.3 million. This was a 39% increase in sales volume and a 26% increase in price compared to July. While the number of single-family homes actively listed for sale, 287, has been steadily increasing all year, when compared to 2019 (a pre-Covid-19 pandemic baseline), inventory is down 48%. Median price, however, is up 71% in contrast to pre-pandemic numbers. Although summer conditions have been ideal in Tahoe/Truckee, interest rates have continued to climb, resulting in a feeling that the market has returned to a calmer state. We remain at the new normal of lower inventory and higher price points than the pre-pandemic market.
~ The Dietz Group at Tahoe Luxury Properties