Here are some valuable insights into how the market is performing in Reno and Tahoe’s most desirable neighborhoods. Check out our 2019 Q1 Real Estate Market Reports at Tahoe and Reno Q2 Market Reports. Current market trends indicate a continuing strong market, which we expect to sustain throughout the remainder of the year.
To bring you up to speed on the Tahoe and Reno markets, here is a brief summary of the second quarter of 2019. Notably, in South Tahoe the average sales price of single family homes remains about the same as Q1, currently at $543,378 in Q2. Homes are selling slightly faster that Q1 with the average days on market decreasing from 119 to 102, and the amount of homes sold continues at the same pace as Q1 with 98 homes sold in each quarter. South Lake Tahoe lakefront home sales saw an average sales price increase again by 12% from Q1 to Q2, indicating a strong lakefront market. Additionally, lakefront homes are selling more quickly with an average days on market decrease from 141 days in Q1 to only 58 days on market average in Q2.
These trends indicate stiffer competition for South Lake listings, and lend to previous indications of a continued 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 second quarter of 2019 below.
530-416-1955 Michelle@TahoeKeck.com BRE 01401898, NV S0063600