The Lake Tahoe real estate market continues on the growth trend. Sales volume increased in all micro-regions. Median price has steadily increased since 2015 in all micro-regions with the exception of Lakefronts (which becomes heavily influenced by the small sample set). On the North and West Shores of the Lake Tahoe basin, median price has been steadily increasing for six years. In Truckee, median price reached a 13-year high, surpassing the previous high in 2006.
A notable spike in Incline Village & Crystal Bay sales volume reflects the California tax climate as residents seek residence in the more tax-friendly Nevada, a trend we predicted and have been tracking since January. In Incline Village & Crystal Bay, 108 single-family homes sold between January and July 2018, nearing the 13-year high of 111 single-family homes sold in the first half of 2013, when Californians also faced a tax increase.
All signs point to continued growth. A decrease of available inventory drives demand and increasing median prices.
Source: Tahoe Sierra MLS and Incline Village MLS
