Doug Flynn
Real Estate
(530) 386-2101
  • Email
  • Facebook
  • Instagram
  • Twitter
  • YouTube
  • Home
  • Search Properties
    • Search All Properties
    • Featured Listings
    • Market Reports
  • Doug’s Sold
  • Communities
  • Doug’s View
    • All Posts
    • Videos
  • About
    • About Doug
  • Testimonials
  • Contact
Home > April Tahoe Mountain Realty Market Update

April Tahoe Mountain Realty Market Update

May 9, 2019 by dflynn Leave a Comment

April Market Report Presented by Jeff Brown – Tahoe Mountain Realty Broker/Owner

Greetings;

Q2 is typically the period during which Tahoe real estate begins to gather momentum. While the early months of 2019 were productive for the region, overwhelming snowfall and limited access deferred numerable purchases into later months.

 

 

April saw the first 30-day period this year wherein residential transactions topped three digits. 109 home sales bested the same period in 2018 by 10% though median priced dropped from $749,000 to $650,000. The latter statistic is more reflective of an exceptional number of high end transactions both at Lake Tahoe and within Martis Camp last year than a major regression of value regionally.

As has been the case throughout much of 2019, the distribution of real estate sales has been over a wider spectrum of communities. In April alone, communities with sales over $1,000,000 included Alpine Meadows, Kings Beach, Gray’s Crossing, Glenshire, Northstar, Tahoe City and Tahoe Donner. Martis Camp saw but one closed transaction versus four in April, 2018.

In many ways, 2018 was an exceptional year for Tahoe real estate defined by an extraordinary number of mega-transactions. 7 transactions exceeded $10,000,000 including a number of extraordinary lakefront sales of $10,000,000, $22,000,000, $24,000,000 and $40,000,000 in addition to 47 home sales in Martis Camp between $3,000,000 – $12,000,000.

After a brief lull to begin the year, 2019 appears to have equally strong demand for luxury real estate with 82 total sales greater than $1,000,000 compared to 87 over the same period a year ago.

Similar to last year, the Tahoe market has been starved of quality supply. Spring typically delivers much of the year’s inventory during May and June, once snow has abated and in anticipation of the busy summer shopping season. Recent weeks have proved this will once again be the case as 187 new properties have come to market in the last 30 days. While this inflates the number of available listings by more than 25%, the market remains titled in the favor of sellers at 4.5 months’ supply. While more product will inevitably come to market through Memorial Day, the listing season may be elongated as higher elevation properties continue to melt out through spring.

As inventory comes to market, another trend appears to be gaining speed. Vacant land offerings are increasing while absorption slows reflecting the increasing disparity between construction costs and property values. Because most consumers are unable to build a home for equal or lesser cost than the value of the home, demand (and thus value) for underlying land falls. Year to date, 46 residential homesites have traded hands. This compares to 104 during the same period a year ago (in fairness, a low snow year making shopping more viable for half the year), and 69 in 2017 (an equally robust year for snowfall). 363 homesites are available for sale while just 260 transacted in the previous 12 months; nearly 17 months’ supply.

Correspondingly, the new homes with modern aesthetic and quality finish that are in such high demand will become increasingly difficult to find and more competitive to acquire. Homes built in 2018 or 2019 sold in an average of 49 days at 99% of their asking price. Older property saw nearly double the time on market and double the discount from asking price over the last 12 months.

In summary, we appear ready to launch into another spring and summer of promising real estate activity throughout the Tahoe Truckee region. We look forward to keeping you updated on real estate activity and the incredible lifestyle that accompanies.

Contributed Jeff Brown – Tahoe Mountain Realty Owner/Broker

Filed Under: Alpine Meadows, Gray's Crossing, Market Reports, Northstar, Tahoe Donner, Tahoe Lakefronts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

New ListingNotifications

  • Email Alerts for New Homes
  • Save Your Favorites
  • Price Change Notifications
  • Plus More...
Sign Up

What's YourHome Worth?

Find Out

Categories

  • Alpine Meadows
  • Donner Lake
  • Gray's Crossing
  • Lahontan
  • Lake Tahoe
  • Market Reports
  • Martis Camp
  • Northstar
  • Old Greenwood
  • Real Estate News
  • Recreational
  • Schaffer's Mill
  • Ski Area Fodder
  • Squaw
  • Tahoe Donner
  • Tahoe Lakefronts
  • Truckee
  • Uncategorized
  • Videos

Client Testimonials

"Doug was not just helpful in the process of finding and buying a great home in Truckee, but has continued to help well beyond the sale. Doug comes highly... continued"
- Norm T – Gray’s Crossing
View All

Price Changes

Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Email
  • Facebook
  • Instagram
  • Twitter
  • YouTube

Doug​ Flynn Real Estate

Since moving to Tahoe in 1992 I have loved living in the mountains and now more specifically in Truckee. I like the changing seasons, all the different activities they bring and the energy of the people that live here. I met my wife Erin in Squaw Valley in 1994, bought our first house in Truckee in 1998 and have never looked back…

Meet Doug

Tahoe Mountain Realty

The Village at Northstar
3001 Northstar Drive C-100
Truckee, CA 96161

(530) 386-2101
Contact Doug

Doug Flynn CA DRE#01850150  •  sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com