What a difference a light snow year makes compared to 2023’s winter conditions!
Skiing and snowboarding were a comparative breeze! Yes, the resorts were open (with minor exception due to a BIG blizzard!); accessing Highway 80 was relatively easy and our winter lifestyle took off with a BIG bang! We’ve surely had a respite from the 100+ year snow conditions and “Miracle March” delivered – it’s still snowing this weekend! Great for Lake Tahoe, our aquifers, wildlife and pure enjoyment of the mountain lifestyle, we’re off to a GREAT start for 2024!
Here’s Alison’s Takeaways for Elder Group’s Q1, 2024 Market Statistics:
- Truckee-Tahoe’s real estate market is STABLE and actually increasing in price in key neighborhoods;
- A few areas have experienced a decline in median sales price, albeit inconsistent by neighborhood. Tahoe Donner, Lahontan and Truckee area condos are UP in median sales prices. Most luxury areas are DOWN slightly in median sales price with Martis Camp having the largest swing. The luxury markets of Schaffer’s Mill, Gray’s Crossing and Northstar softened;
- Days on Market were all over the board! Northstar, Lahontan and the greater Truckee area were DOWN while Tahoe Donner, Martis Camp, Schaffer’s Mill, Donner Lake and Gray’s Crossing were UP;
- Price per Square Foot was DOWN in all markets except Martis Camp and Lahontan;
- There were more properties conveyed in Tahoe Donner, Schaffer’s Mill, Donner Lake, Martis Camp and greater Truckee as compared to 2023. There were fewer properties conveyed in Northstar and Lahontan. There was no change in Gray’s Crossing or Martis Camp as compared to Q1, 2023.
Check out each Neighborhood that intrigues you (or where you own property!) to see specific market insights. Review the Key Market Summary below for a macro overview and watch Alison’s videos to learn more about for preferred neighborhood(s)!
Here’s Alison’s Takeaways #2 – What’s Coming Ahead:
Expect a much more balanced supply and demand through summer. Given the stable market conditions, this is a solid time for both buyers and sellers;
Anticipate a plethora of listings this summer – inventory is currently tight due to ski leases and will release shortly. For example, Tahoe Donner currently has only 13 properties for sale;
Given the positive stock market results, consumers are paying cash in over 50% of offers Elder Group writes or receives. Buyers are bidding competitively on properties;
Homes appraising at value are and have been a non-issue. Why? Building costs are so high, resale product is a good value. Buying is much less expensive than building and replacement costs are high;
My team and I continue to lead the Truckee-Tahoe market and carry a very large listing inventory. Whether you are selling a property or purchasing one, we have the expertise to ensure you get the RESULTS you want!
The links below provides data and Alison’s videos about 8 key Neighborhoods in the Truckee market + 16 micro-markets delivering all the financial data you need! Our Elder Group website delivers a plethora of information, retro-statistics, properties and oodles of information. Check out your preferred Neighborhood below!
Elder Group Tahoe | Q1 2024 | Neighborhood Reports
Alpine Meadows
Donner Lake
Donner Lake-Fronts
Glenshire-Devonshire
Gray’s Crossing
Juniper Hills
Juniper Creek Ranch
Lahontan
Martis Camp
Martiswoods Estates
North Lake Tahoe
North Lake Tahoe Lakefronts
Northstar
Old Greenwood
Palisades Tahoe
Prosser
Shaffer’s Mill
Sugar Bowl
Tahoe City
Tahoe Donner
Truckee
Westshore
Westshore Lakefronts
Winter Creek
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