Christy Morrison - Truckee Tahoe Realtor

How Does the Tahoe-Truckee Spring Market Look?

The spring real estate market has begun. What’s happening so far in the Tahoe-Truckee area?

There are many great Truckee area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 582-6900 for a FREE home buying consultation to answer any of your real estate questions.

The spring real estate market is here. What’s happening in the Tahoe-Truckee market?

Inventory is still exceptionally low. New listings are down 24% this year compared to last year. As a result, we have also seen a 16% decrease in sales.

However, the median sales price is up 11%.

In the last three weeks, more homes have come on the market now that people are able to get out of the snow and get their houses ready for sale.

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Homes that are priced right and in great condition will sell quickly.

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Now is still a great time to sell your home. Homes that are priced right and in great condition are selling very quickly. If you are trying to buy a home, let us know exactly what you are looking for so that we can notify you as soon as that property hits the market.

If you have any questions about navigating our current market, just give me a call or send me an email. I would be happy to help you!

When Is the Best Time to Sell Your Home in the Mountains?

How do you know when the best time is to put your home on the market? There are three important factors to consider.

When is the best time to sell your house in the Truckee-Tahoe area? There are a few factors to consider:

1. What percentage of homes are selling on a monthly basis? In March and April of last year, over 18% of homes on the market actually went into escrow. In August, 20% of homes went into escrow. That number dropped to 18% in September but jumped back up to 22% in November.

In short, March, April, August, and November had the highest percentages of homes in escrow last year.

That number can shift depending on your neighborhood. For example, last March in Tahoe Donner, 75% of homes on the market went into escrow. Inventory is incredibly low in Tahoe Donner, which is why the percentage of home sales is so high. So far this year, inventory remains low.

Last April, Tahoe Donner had 58% of homes on the market enter escrow. That number dropped to 11% in May because more people put their homes on the market. As a result, you can expect inventory in Tahoe Donner to go up again this May. The percentage of homes sold went back up in November of 2016.

Overall, keep in mind that spring and fall have a higher percentage of homes go into escrow.

2. What is the average selling price? Between January and May, the average sales price in our area was $808,000; from August through December, the average price dropped to $776,000. Prices go up when homes sell in the spring and drop a bit through the second half of the year.

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Prices go up when homes sell in the spring and drop a bit through the second half of the year.

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In Tahoe Donner, the average price from January through May was $603,000. From August through December, the average sales price dropped to $575,000. Even luxury markets like Old Greenwood experience a similar trend, with an average sales price of $1.88 million in the spring and $1.6 million in the fall.

3. When is it most convenient for you to put your home on the market? Of course, this is the most important factor of all. When does it make the most sense for you to sell your home? When do you need to move? What makes the most financial sense for you?

If you have any other questions about when to put your home on the market, please don’t hesitate to reach out to me. I would be happy to help you!

Your 2016 Tahoe-Truckee Real Estate Market Wrap Up

2016 is almost over, which means now is a great time to reflect on how the Tahoe-Truckee real estate market has changed in the past year.

What happened in our 2016 real estate market?

Overall, more homes sold in 2016 than in 2015 and home sales went up by 15%. The average sales price is up 11%, and the median sales price is up 5% over the last year.

These numbers can be deceiving because each neighborhood has its own dynamic. For example, in our more popular neighborhoods like Donner, Glenshire, Donner Lake, North Shore, and West Shore, we saw minimal growth of 1% to 3% in the median and average sales price.

There were some interesting anomalies in our 2016 real estate market.

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2016 saw some interesting real estate anomalies.

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In Martis Camp, home sales doubled in 2016. However, the average sales price is actually down by 6%, and the median sales price is down 14%. In Squaw Valley, sales also doubled but the average sales price went up 7%. On the other hand, the median sales price went down by 4%.

So, who were the winners in 2016? The neighborhood of Brockway Vista saw a 4% increase in the average sales price and a 14% increase in the median sales price. That’s the result of new streets and redevelopment in the downtown area. Brockway Vista also went down the most during the economic downturn; now, they have made a full recovery.

Northstar also saw a significant increase in the average sales price—the average is actually up 46%! The median sales price jumped up even further, increasing by 63%. Why the huge increase? You can thank the new Mountainside development for that.

If you haven’t been to Northstar lately, there are some incredible new homes out there that are definitely worth taking a look at. The question is, will Northstar overshadow Martis Camp? Only time will tell.

If you are interested in the specific numbers for your neighborhood, click here for a full report. You can also search all local real estate on my website. As always, if you have any real estate questions, please don’t hesitate to reach out to me. I would be happy to help you!