As the height of summer market activity winds down, we evaluate the first three quarters of real estate activity and assess 2017 market trends.
The dip in supply of inventory caused the median price to rise and sales volume to drop in all major segments of the Tahoe market. In all markets, the median price continued its rise since 2015, nearing, but not yet reaching the high-water mark of 2006. While sales volume dropped year-over-year in major segments, sales volume in the Tahoe Sierra MLS as well as Incline Village/Crystal Bay remains strong, posting their third highest unit sales number in 12 years, since 2006.
While the 2017 Q1-Q3 median price on average falls nearest to the 2008 pricing, the 2017 sales volume averages around double the sales volume in 2008. Regardless of the 2017 YOY dip in sales numbers, overall sales volume remains high relative to the current market pricing.
In summary, demand is slighly but not overly impacted by the increase in median price. Expect the market to finish strong through 2017.
View the detailed report that graphs sales volume and median price by micro-region here or by clicking the gallery images below.
Download past reports here.
Source: Tahoe Sierra MLS and Incline Village MLS
