In the first three quarters of 2021, in all micro-regions, sales volume of single-family homes decreased while median price reached historic highs. Notably, this is the first time we have seen any micro-region show a decrease in sales volume since the mid-year 2020 report, which may reflect the limited available inventory, the impact of the California wildfires on home sales, and the potentially unsustainable growth trends. As we saw in the mid-year report, all micro-regions continue to show median prices above $1M. And, each micro-region saw an increase in median price over 35%. While the vigorous growth in median price continues, this is the first indication of a slow-down in sales volume. Whether or not the number of homes sold was significantly impacted by temporary factors, or whether limited inventory will continue to drive down the number of homes sold, will be the trend to watch for the remainder of 2021.
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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