Tahoe Mountain Realty: Q1 2016 Market Update
Learn the latest real estate news from Tahoe Mountain Realty, who recently released their Q1 market report of 2016, with statistics and analysis covering the Tahoe-Truckee area.
The 2015-2016 winter has been a bounce back period on many fronts. After a series of disappointing ski seasons, our region was thirsty not only for water but for the audience that drives our tourist economy. With over 400 inches of snow, nearly half of which graced us in March, the region has been propelled into recovery. Local real estate has returned to “normalized” conditions that include a healthy balance of inventory and sales momentum.
Q1 saw a 15% increase in overall transactions over the same period in 2015 from 235 sales to 270. Of these new acquisitions, a greater percentage fall into the luxury category with 20%, or 55 total sales, creating $1,000,000 as compared to 15%, or 35 in 2015. Correspondingly, average sales price grew 4% to $872,575...
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