Last year at this time, we reported that 2020 was an historic year in Lake Tahoe real estate, showcasing dramatic and unprecedented activity as a result of the pandemic shifting buying behavior and accessibility. In 2020, our Year End Market Report highlighted a massive spike in sales volume alongside a noticeable increase in median price, with both reaching record highs in all micro-regions (with the exception of lakefronts, where sales volume fell one home below the record). This year, we are seeing median prices once again reaching historic highs in all micro-regions, although by a much larger increase, with the minimum being a 24% increase in median price year over year (on thop of the previous record high, that is!). The difference is that in 2021, all micro-regions are showing a decrease in sales volume, by a minimum of 14% and as high as 37% year over year. The decrease in sales volume may be due to limited inventory available, however it also may be indicative of the market reaching our threshold in pricing. On Lake Tahoe’s North & West Shores, median price has been on a 10-year upwards trajectory and this year alone saw a 41% increase in median price. We look forward to 2022 to determine if these trends are sustainable, or if we will begin to see a plateau as the market attempts to correct itself.
The Dietz Group at Tahoe Luxury Properties, with Bill Dietz, principal broker, Megan Mickel, real estate manager, and Diana Keating, team agent, closed the year with $222,254,000 in real estate sales, including eight lakefront homes (representing 11 sides), totaling $146,987,500 in lakefront sales this year alone. Watch the video recap here.
Download the detailed report here.
Download past reports here.
View the graphs of sales volume and median price trends by micro-region by clicking the gallery images below.
Source: Tahoe Sierra MLS and Incline Village MLS
