Tahoe Mountain Realty | Tahoe-Truckee 2015 6-Month Review
Learn the latest real estate news from Leverage Partner Tahoe Mountain Realty, who recently released their market report of the first 6 months of 2015, with statistics and analysis covering the Tahoe-Truckee real estate market.
Lake Tahoe real estate market trends have proven to be dramatically different than those of the first half of 2014. The Tahoe Mountain Realty conducted in-depth research for the bi-annual market reports for the Lake Tahoe and Truckee area and are seeing significant market changes. The average price of North Lake Tahoe real estate in 2014 for the region was far higher than the median price in previous years during strong economic growth. This is driven by high sales volume within the luxury real estate market, more importantly, within the luxury resort communities such as the Martis Valley region. These luxurious communities continue to appeal to a younger demographic primarily focused on enjoying quality family time within the mountains of Lake Tahoe.
A simple factor, supply v. demand, has dramatically impacted the first half of 2015 compared to 2014. The total number of Lake Tahoe real estate sales have increased by almost 10% compared to the same period last year while the number of houses on the market has remained fairly constant. The median price of houses has remained steady, giving us great hope for the future of Lake Tahoe real estate price trends. With that being said, the average price has dipped, due to an uninspired winter of 2014 as winter activities suffered due to less – than – ideal skiing and snowboarding conditions.
In contrast, sales in well-known neighborhoods have been exceptional year-to-date throughout the region. This is a great indication of what is to come for the overall real estate trends in Lake Tahoe as the summer month's ramp up. With the economy in Northern California area thriving, Tahoe Mountain Realty expects an increase in activities that will drive volume and value of real estate in Lake Tahoe well beyond last year's marks.