In the first half of 2022, each micro-region saw a decrease in the number of single-family homes sold. With the exception of the lakefront report (which has a very small sample size and excludes a notable off-market sale), all micro-regions saw an increase in median price. Interestingly, while median price has continued to increase, the growth rate itself has slowed. In the month of June alone, we saw the number of listings in the Tahoe Sierra MLS increase 71% year over year, indicating a shift that begins to favor buyers. Since the onset of the pandemic, we have seen high demand and sparse inventory, leaving buyers to compete for the limited homes on the market, which, in turn, drove prices up. As more inventory becomes available and sales volume decreases, buyers are no longer as motivated to pay pandemic-influenced pricing. The first half of 2022 reflects the market positioning we have seen since the beginning of COVID, with low inventory, strong demand and significant price increases. However, the frantic pace appears to be reaching a plateau. While demand remains strong, supply is increasing, which may be the first indication that the market is leveling.
Download the detailed report here.
Download past reports here.
View the graphs of sales volume and median price trends by micro-region by clicking the gallery images below.
Source: Tahoe Sierra MLS and Incline Village MLS
