In the first half of 2023, Tahoe Truckee continued the trends of single-family home sales that we saw in Q1, with sales volume dramatically decreasing between 32-48% year over year in each micro-region. Median price dipped between 3-12% year over year and remained flat on the California side of the Lake Tahoe basin, a result of the low supply. While the number of single-family homes actively listed for sale has been steadily increasing, it is still well below pre-covid years. Low inventory traditionally keeps prices stable, despite sluggish sales volume. A long winter, and a spring packed with disruptive weather led to a slower start to summer’s prime real estate season. However recent weeks have seen increased activity in the luxury market and an onslaught of listings, promising a fruitful summer ahead. While market conditions have impacted the high end of the market and second-home buyers more than the more residential neighborhoods, the natural beauty of Lake Tahoe alongside convenient access, paired with ideal lake conditions this summer, will hold steady value and demand.
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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