HOW TO TREAD WATER 101: Dog Paddle? Flutter Kick? ….The Eggbeater!
The dog paddle and flutter kick are the most intuitive ways to stay afloat if you are unexpectedly tossed into Lake Tahoe, but did you know that the eggbeater will keep your head above water much longer in a survival situation?
Apparently, while we were all waiting for interest rates to come down, the Tahoe-Truckee real estate market perfected the eggbeater, staying alive without moving much in any direction!
Finally, relief arrived on September 18th when Jerome Powell lowered the federal funds rate by a healthy .5%. Read an informative analysis in the Harvard Gazette of how this will affect consumers.
While you review the numbers for Q3 in our local market, keep in mind that September 30th was too soon after the rate cut to see ripple effects showing up in the data.
CLICK HERE FOR ALL TAHOE-TRUCKEE MARKET NUMBERS
Condos win the “Most Notable” award in Q3 2024, setting a record for the highest median price ever in a single quarter! Unfortunately, the number of units sold chose the dog paddle, got tired, and is just about to duck under the waves. 56 units is the lowest number in our records for third quarter condo sales.
Inventory caught a wave, while pending contracts, shall we say, are…circling the drain? Another record-setting low tide. Mixed metaphors and all!
A bright spot: Days on Market stats! Not that they’re down, but that they’re normalizing! Coming off the fast and furious “early ’20’s”, it may feel like listings are selling in geologic time. Statistics show, however, that we’re just returning to normal for this area.
After seeing the notably high median price of condos and townhomes this quarter, we got curious about where it is exactly that these properties are selling. North Shore wins! To see another pie chart for locations of Q3 2014 condo sales, CLICK HERE.
BUYERS: To contact us and find out about pre-market listings, CLICK HERE
If you’re thinking of selling, click here to schedule a 15 minute, no-commitment strategy session with Linda Granger.