NORTH LAKE TAHOE | TRUCKEE MARKET UPDATE

A Note From Team Tahoe
Early 2024 Market Update
The snow prayers are finally working! February started strong with the biggest snowstorm of the season. And that is not the only thing that is slowly picking up.
As you may have heard by now, 2023 was the slowest of the last 10 years regarding Real Estate sales.
January 2024 numbers show 64 closings for the Truckee/ North Lake Tahoe area, which is up from January 2023’s 52 closings.
The sales-to-list price ratio also increased to 98%, as opposed to the last two months’ ratio of 96.5%.
These increases are slight but a step in the right direction.
However, properties are still taking long to get into contract, with a growing median of 59 days in the market.
In the last 14 days, there have been 30 new escrows.
2 (7%) had been on the market for 7 days or less.
7 (23%) had been on the market for 3 weeks or less.
8 had been on the market for over 100 days!
This trend shows that houses that have been sitting for a while are slowly starting to get some action again.
Staying informed as the market transitions will be essential.
Please feel free to call or email us today to find out more. In today’s complex and dynamic market, expert analysis is critical.





