In the first quarter of 2022, each micro-region saw a decrease in the number of single-family homes sold, alongside an increase in median price. In fact, median prices, in general, have nearly doubled in two years. In the Tahoe Sierra MLS, 31% of homes sold for over $2 million. In Incline Village & Crystal Bay, 69% of homes sold over $2 million. Lack of available inventory continues to drive prices up. While some may speculate this growth rate seems unsustainable and that prices cannot continue to rise, it seems unlikely that prices will drop significantly with the current pent-up demand. Rather, we may see prices begin to plateau, if and when demand for the Tahoe region subsides.
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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
