June 2014 Lake Tahoe Real Estate Market Report

By
Real Estate Agent with Oliver Luxury Real Estate DRE# 01796995

The Lake Tahoe real estate markets continue to show strength in 2014 with single family home pricing up significantly over 2013.  Now that we are half way through the year we continue to see fewer home sales than the previous year but average and median single family home pricing is rising due to a continuation of high buyer demand, low inventory levels, lower levels of distressed home sales (REO and Short Sales) and an increase in luxury homes sales.  These are all signs of a healthy increasing market and we anticipate a strong summer of sales in the Lake Tahoe real estate markets.

Over the last month we have seen a bump in inventory which has been well received by buyers who have patiently been waiting for new homes to come on the market.  With the current buyer demand these new listings are getting lots of attention and selling in faster than average marketing times and at lower list to sold discounts.   As these new homes hit the market we are noticing that pricing on these homes is ticking up which speaks to the strength of the Tahoe markets.

Year over Year Market Comparison

January - June 2014 Statistics
January – June 2013 Statistics
  • 388 Single Family Home Sales down 17%
  • Average Price: $910K up 27%
  • Median Price: $579K up 17%
  • 32 REO & Short Sales down 59%
  • 4 Sales Below $200K down 73%
  • 76 Sales over $1M up 24%
  • High Sale Price: $14M up 59%
  • Low Sale Price: $76K up 5%
  • 468 Single Family Homes
  • Average Price: $669K
  • Median Price: $483K
  • 78 REO & Short Sales
  • 15 Sales Below $200K
  • 58 Sales over $1M
  • High Sale Price: $5.79M
  • Low Sale Price: $72K

*Lake Tahoe and Truckee Single Family Homes Including Lakefronts, MLS Areas 1-9.

Lake Tahoe Market Analysis Sales Chart

Lake Tahoe Real Estate Sale ChartThis chart shows that in the first 6 months of 2014 the Average home price in Truckee and N. Lake Tahoe is up 27% and the Median price is up 17% over the same time period in 2013.

Anticipated Market Conditions in 2014

  • High buyer demand
  • Limited inventory
  • Pricing Increases of 10-15% by the end of year
  • Fewer distressed sales (REO and Short Sales)
  • The higher end of the market will set records
  • Mortgage interest rates will continue to increase through the year and should be close to 5% by 2015. This increase will take away from buyer purchasing power as a 1% increase in loan rates equates to a reduction in purchasing power of approximately 10%

In the first 6 month of 2014 Oliver Luxury Real Estate has sold over $97.5M in Tahoe/Truckee real estate and we are the #1 Luxury Brokerage in North Lake Tahoe!  It would be my pleasure to discuss your real estate goals, so please feel free to call or email me anytime.

 

Want to know what your Lake Tahoe home is worth?

 

David Westall, Realtor
OLIVER LUXURY REAL ESTATE
P: 530-448-9882
David@WestallRealEstate.com
www.WestallRealEstate.com
CA DRE# 01796995

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California Placer County Tahoe City North Shore And West Shore
Tags:
real estate market analysis
lake tahoe real estate
tahoe real estate
truckee real estate
truckee market analysis
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Rainmaker
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Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Davr, always enjoy viewing information on other communities.   Thanks for sharing.

Jul 08, 2014 04:27 AM #1
Rainmaker
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Dave Westall
Oliver Luxury Real Estate - Tahoe City, CA

Thanks Ronald, I appreciate the feedback!

 

-Dave

Jul 09, 2014 04:54 AM #2
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Rainmaker
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Dave Westall

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