2020 Year in Review: Market Conditions for North Lake Tahoe & Truckee

The Tahoe market is still red hot across its different market segments. Market indicators are often seasonal in nature, with Q2 typically being the period of highest demand, and the mid-winter holiday period being the period of lowest activity. Due to record-low inventory, competition has never been fiercer as we enter into Q1 of 2021.

The pandemic gravely affected Q2 2020 market activity, but the quarterly and monthly statistics show the steep decline followed by the dramatic rebound that occurred over the course of Q3 and Q4 2020.

Median Sales Price for Houses & Condominiums in North Lake Tahoe/Truckee.

 

Average days on market and the percentage of Homes selling within 30 days are illustrated in the following two charts. 

Days on market slightly increased in Q4 and percentage of homes selling within 30 days held steady, signifying a continued strong buyer demand.

Average house dollar per square foot values have also seen a slight increase in Q4.

A snapshot measure of how many listings were typically active on any given day of the specified month:  Inventory levels have been running historically low, a big factor in market dynamics.

The number of listings going into contract by month. December's drop is directly related to low inventory, as seen in chart above.

After the initial shelter-in-place plunge, North Lake Tahoe/Truckee sees huge rebound in the sale of higher-price homes in the luxury market. 

Bottom line:  The Tahoe market continues to be extremely competitive.  Our team has a combined total of 50 years of real estate experience to help you buy or sell on both the CA or NV side of Lake Tahoe and Truckee.  Feel free to reach out to us to ask questions.  

 

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Defining Lake Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of: Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the charts includes single family & condo homes in these communities.