Here are the 3rd quarter market stats for the Truckee real estate market. This graph is just homes, and not condos. I think of interest to note is that volume in Truckee home sales is up 16% this year. Tahoe Donner sales are up just over 3% (only 5 homes). I’ve certainly been feeling and espousing that. The median sales price is down though, by 9% overall.
One phenomenon I’ve seen, which is new in my almost 15 years of Truckee and Tahoe real estate sales, is that vacation owners are much more open to the idea of looking outside of “traditional” vacation home neighborhoods like Tahoe Donner. I have had several vacation home buyers choose Glenshire this year, and that has not been typical. This could be one reason why the overall Truckee real estate market has seen 16% more sales over last year. But I also think that many primary owners are having an opportunity to buy now, where they maybe could not previously afford to do so. A positive outcome of this protracted market correction. The other interesting thing to note is that while the median price is down 9% overall, while the number of homes sold was up 16%, in Tahoe Donner, the median sales price only declined by half of that, at 4.5%. That’s not a gain, but a good number…considering. In the Tahoe real estate market, median price and the number of homes sold is essentially flat from last year. Another good sign.
Anectodatly, I traveled a bit yesterday down to the Bay, and I noticed new construction, and people working, and busy shopping areas, just like here. I think that those of us blessed enough to have good work, in many cases, are pulling ourselves up by the bootstraps, and getting on with it, whatever “it” is.
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