Today I wanted to touch on what’s hot and what’s not in the real estate market up here in the Truckee Tahoe area.
Overall right now, our sales are down about 10% with the average price up about 7% in Tahoe, but these numbers are quite different in certain neighborhoods. In Tahoe Donner right now, sales are up over 15% right now and the average price is also up 7%. Out in the Martis Valley, the sales are also up around 14% percent with the average sales price up about 6% as well.
Over in the Glenshire area and the surrounding neighborhoods, sales are down about 31%, but the average price is up 14%. Why is this? Because the inventory is so low right now that prices are being driven up. If you have a house in say, Tahoe, Donner, priced between $700,000 and $1.3 million, we’re seeing bidding wars, multiple offers, a lot of activity and a lot of demand. If you have a house in the Glenshire market and you’re thinking about selling - wow! Now is the perfect time.
So what’s not hot right now? Homes that are a little dated, need some repairs, aren’t presented well, or are priced higher than the competition tend to sit on the market right now. Even nice beautiful homes that are priced even $15,000 more than the competitively-priced homes are also sitting on the market. If you’re a buyer, I’d highly encourage you to make offers on those types of properties. Even if they’re a little out of price range, take a look because there’s not a lot of competition for them.
If you’re interested in buying, we’d love to represent you in your search! Send us an email or phone call and let’s get started today!