What’s the latest news from our local market?
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What’s happening in our Tahoe/Truckee market this summer?
Right now, we’re seeing a familiar development in our market: Inventory is starting to swell—having now risen to 652 available homes—which means we have scores of great properties to choose from. Another 52 homes have sold so far in July. At this rate, we can expect about 100 homes to be sold between this month and August. However, this recent increase in inventory is sure to impact our number of home sales.
What do I mean by that?
Well, in June of this year, we had 244 homes listed on the market and 100 of them sold, which means just 40% of sellers sold their homes. Contrast that with this past March: 67 homes were listed on the market and 57 sold—that’s 85%.
If you want to be in that 40% of successful sellers, you’ll need to strategically price your home according to its conditions, location, and features.
From now until the end of September, our market presents all sorts of opportunities for motivated buyers. Remember: 60% of homes aren’t selling, which is a telltale sign that competition is less stiff than it was just a few months ago.
Bear in mind that 40% of sellers are pricing wisely, so if that’s where you’re looking, you may have to make a strong statement with a clean pre-qualified initial offer.
If you have any further questions about our Tahoe/Truckee market or about anything related to buying or selling a home, please get in touch with me. I look forward to helping you soon!