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What’s happening with the Tahoe-Truckee real estate market for the month of June 2016?
Right now, there are 682 homes for sale in the area, with 86 having already been sold for the month. Basically we have an eight month supply of inventory of existing homes for sale. During the same time period, we also had 152 homes come on the market. As you can see, we’re having more homes come on the market than are selling, which is typical for this time of year. Last year we had 103 homes sell during June. The average days on market during that period was 75, whereas this year that number is 81.
What’s happening with the prices right now? Overall, our sales are up over 11%, so we’re seeing 11% more homes sell than we did last year. Our average is up 2% and the median price is up 6%. As we’ve previously discussed, certain neighborhoods are hot right now in the Tahoe-Truckee area. For example, the sales in the Tahoe-Donner neighborhood are up 31%, and the average sales price is up 3%. Over in our Truckee neighborhoods, sales are up 38%, and the average price is up 5% over last year.
