Quarterly Update
2nd Quarter 2021
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Local Market Report
- Total properties sold rose 70% year over year to 215, up from 126 in 2Q2020
- Average Days on Market declined 36% year over year to 64, down from 100 in 2Q2020.
- Median sales price rose 37% year over year to $695,000 up from $507,000 in 2Q2020
- Average Sales price rose 54% to $936,000, up from $609,000 in 2Q2020.
- Absorption rate-129 Active properties/85 sold last month= 1.5 months of inventory 1 to 3 Month Supply of Inventory =Stong Seller’s Market
High Rates of Appreciation and Regular Multiple Offer Situations
4- 6 Months of Inventory = Balanced Market
What does this all mean? Buyer interest continues to outpace supply resulting in upward price movement across nearly all communities and price points. Only 2 months of inventory indicates a strong sellers market. We continue to set records each month as inventory remains low and buyer demand is very high. Median home prices are up 37%, average home prices are up 54%, and days on market are down 36%, creating a highly competitive market for buyers. If you would like specifics about the current value of your home or a potential purchase, please don’t hesitate to contact me.
Read The Reports Here
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Local Market Report
- Total properties sold rose 90% year over year to 74, up from 39 in 2Q2020
- Average Days on Market declined 43% year over year to 83, down from 145 in 2Q2020.
- Median sales price rose 4.5% year over year to $585,000 up from $560,000 in 2Q2020
- Average Sales price rose 4% to $1,140,000, up from $1,100,000 in 2Q2020.
- Absorption rate-25 Active properties/9 sold last month= 2.77 months of inventory
1 to 3 Month Supply of Inventory =Stong Seller’s Market
High Rates of Appreciation and Regular Multiple Offer Situations
4- 6 Months of Inventory = Balanced Market - What does this all mean? Buyer interest continues to outpace supply resulting in upward price movement across nearly all communities and price points. Only 2.77 months of inventory indicates a strong sellers market. We continue to set records each month as inventory remains low and buyer demand is very high. Median home prices are up 4.5%, average home prices are up 4%, and days on market are down 43%, creating a highly competitive market for buyers. If you would like specifics about the current value of your home or a potential purchase, please don’t hesitate to contact me.
Looking for more?
See more current listings here.
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What’s your home worth?
Complimentary Home Valuation
When selling your home it is important to know how your home compares to similar homes on the market. With the proper research, you will learn how much your home is currently worth and possible improvements / changes you may want to make to get top dollar. Michelle can provide you with a detailed valuation of your home in today’s market.
Michelle Keck
Elevate Your Lifestyle
California Broker | Nevada Salesperson
CA 01401898 | NV S.0063600
Corcoran Global Living
m +1 530.416.1955 I o +1 775.589.7100
michelle@tahoekeck.com
tahoekeck.com
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