W I N T E R I N T A H O E
A Note From Team Tahoe’s Kirstin and Pilar
We are in the heart of winter when inventory hits annual lows. There are 175 residences currently on the market, which is 45.7% higher than last year’s 80 residences. But, in 2019 the number was closer to 400.
Looking at long-term numbers, inventory is still at the lowest levels we have seen historically before COVID (Around 60% of the average for the five years before COVID and 40% of the 10-year average) for this time of year.
Sellers. Keep in mind, this is still a much better time to be a seller than in 2019 (which seemed like a very healthy market then). You can expect a similar amount of time on the market but much higher sales prices.
Buyers. Keep in mind, this is the most balanced market we have seen in the last three years. You now have the following things working in your favor:
The ability to negotiate price is back!
The ability to inspect a property and have expected contingencies is back!
The ability to negotiate repairs is back!
Yes, interest rates are climbing, but if they continue, you will be glad you are locked in now. If/when they reverse course, you can refinance to take advantage.
Investors. The most anticipated economic report of the week, the Consumer Price Index (CPI), was released yesterday. CPI is a widely followed monthly inflation indicator that looks at the price changes for a broad range of goods and services. Retail Sales will come out on Wednesday. Since consumer spending accounts for over two-thirds of U.S. economic activity, the retail sales data is a crucial measure of the economy’s health.
Call or email us today to find out more. In today’s complex market, expert analysis is critical.
T A R T C O N N E C T : F R E E, O N – D E M A N D S H U T T L E
The Truckee TART Connect Pilot Program is a service that aims to meet more transit needs, especially for those seeking to travel to and from residential areas without using their cars. Avoid downtown parking costs and enjoy safe nights out on the town with better experiences and reduced congestion for residents and visitors.
After a successful summer program, winter service will operate seven days a week from 8 AM to 10 PM through April 2, 2023.
TART Connect users can download the TART Connect app and enjoy the free service in and around the Truckee area. The application is like other ride-sharing applications offered by transportation network companies but free of charge to the rider. Vehicles will have wheelchair accessibility and ski and snowboard racks and permit service animals and well-behaved dogs on leashes to ride.
