North Lake Tahoe & Truckee real estate signaled a shift in the first quarter of 2019. Sales volume decreased in all five micro-regions year over year, while median price increased or remained flat across the board. This decrease in sales can be explained, at least in part, by record breaking snowfall during Q1. The market showed a commensurate slow down in unit sales volume during Q1 of 2017 which was the prior Q1 with abundant snowfall. Median prices increased in all but one (Truckee) micro-market. Truckee’s median price of a single family home was essentially flat year over year. Interestingly, all three lakefront sales of the quarter occurred in January, with no lakefront sales in February or March. The lakefront market should see benefit by another full lake this summer as all piers and buoys will have full usability. The Tahoe market should also see some tailwind from the expected influx of new millionaires in the Bay Area from the various high-profile IPOs. All eyes will be on Quarter 2 to determine how 2019 will trend.
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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