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NORTH LAKE TAHOE | TRUCKEE MARKET UPDATE  

 A Note From Team Tahoe

As we navigate the changing seasons, we want to inform you about the latest Truckee/Tahoe real estate market trends. Here’s a snapshot of what’s been happening:

Steady Second Half: After a slower start in the first half of the year, the Truckee/Tahoe real estate market has shown steadiness in the second half. This resilience is indicative of the enduring appeal of our beautiful region.

October Sales Surge: We witnessed a notable surge in residential property sales, with 133 homes changing hands. This marks a significant increase from the 82 sales recorded in the same month last year. Adjusted for the extraordinary sales spike in October 2020 due to unique circumstances (COVID), this October aligns closely with a robust 94% of the 10-year average.

Favorable Conditions for Sellers: For potential sellers, now is an opportune time to consider listing your property. The market displays a strong and steady demand for well-priced and well-maintained homes. This is a much more favorable time than 2019, offering a similar time on the market but with substantially higher sales prices.

Balanced Opportunities for Buyers: Even with the high interest rates, the market has been the most balanced in the last three years. You now have the advantage of negotiating prices, inspecting properties with expected contingencies, and arranging repairs.

While interest rates are still rising, seizing the opportunity now can be advantageous. And should rates shift, refinancing remains a strategic option.

As we enter what historically has been a ‘slow’ season, the Truckee/Tahoe real estate market continues to showcase resilience and opportunities for buyers and sellers.

Please feel free to call or email us today to find out more.  In today’s complex and dynamic market, expert analysis is critical.