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1st Quarter Market Report 2019 Lake Tahoe and Reno presented by Michelle Keck |
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| Hello All,
What a 2019 it’s been thus far! Current market trends indicate a promising start to the year, and we look forward to conserving this momentum throughout 2019. The the first quarter market report release has arrived. It is my belief that educated buyers and sellers experience the most seamless and rewarding transactions. With this in mind, here are a few valuable stats from the first quarter of 2019 to bring you up to speed on the Tahoe and Reno markets. Notably, in South Tahoe the average sales price of single family homes is already up fifteen percent in the first quarter, going from $466,500 in 2018 to $549,500 currently! South Lake Tahoe lakefront home sales also saw an average sales price increase by about three percent in the first quarter over 2018. Additionally, lakefront homes are selling more quickly with an average days on market decrease from 258 days to 141 days on market average. With 4 lakefront single homes and 98 single family homes already sold in the first quarter, we are off to a robust start for all home South Tahoe home sales in 2019. On the East Shore Nevada side of the State line, first quarter indicators show a very strong emerging market, with an average sales price increase of a whopping thirty percent average on single-family homes over last year from $599,000 to $850,000! A similar story for lakefront homes on the East Shore shows they are selling more quickly than last year with an average days on market decrease from 352 to 108 days. These trends indicate stiffer competition for South Lake and Stateline listings, and lend to previous indications of a seller’s market trend around the lake. Seller’s markets are reciprocally beneficial to buyers as more properties are listed, offering a wider variety of inventory. I hope that you find these reports informative. Please do not hesitate to reach out to me for any information regarding your Tahoe property! I would be happy to provide you with a complimentary valuation of your home in today’s market, or assist you in finding your perfect Tahoe home. Please contact me if I can be of service. Instantly view and download the Tahoe-Reno Real Estate Market reports for the first quarter of 2019 above. Best wishes,
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