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Since January, sales volume, pending sales, and median price have been trending downward while listing inventory has trended in an upward direction. March was on par with previous years, but in April we started to see the impact the novel coronavirus was having on the real estate market. With the challenges of showing property during the stay-at-home directive, buyers are looking online but are hesitant to move forward until they can visit properties in person. Generally, during this time of year, sales volume is most greatly affected by the quality of the ski season, and we begin to prepare for Memorial Day weekend as the kickoff to the typical summer real estate surge. Time will tell if that surge will happen this year.
~ Bill Dietz, principal broker of Tahoe Luxury Properties