The Great Glass Elevator: Tahoe-Truckee Real Estate Sets New Records

Let’s look first at prices, the previous record highs having been set in 2006. Those of us watching Tahoe-Truckee real estate have been waiting for 14 YEARS for the median price across the MLS to get back to its all-time high. Sure, certain sectors and neighborhoods saw untrammeled growth this past decade, but plenty of buyers from the mid-00’s were still looking at a loss.

Hello Summer ’20! Because of urban flight during the pandemic, the region-wide median price for condos and single family homes as a group has finally surpassed 2006.

Meanwhile, unlike the 2005-2006 price boom, unit sales this quarter also exploded through the ceiling. 89% more SFR’s sold in July-Sept of this year than the same period in 2019, despite record-low inventory.

Hold onto your hats, folks! It’s anyone’s guess what 2021 will bring. Good news is, Charlie and the elevator, after a wild ride in space, did eventually make it back to the chocolate factory safely.
 

Is that a mistake? That teensy little sale-under-list percentage for 2020? Nope.
We’ll say it again… Thinking about selling? Now is the time!!
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