Tahoe Truckee real estate market continues trends of growth
Tahoe Luxury Properties has released the 2016 Year End Tahoe Truckee Real Estate Market Analysis. Compiled from data provided by both the Tahoe Sierra MLS and the Incline Village MLS, the report graphs sales volume and median price by Tahoe’s unique micro-regions with year-over-year data from 2006 through 2016.
The report shows that Tahoe Tahoe 2016 real estate market posted widespread gains in both units sold and median price.
“On the macro scale, the rise in this year’s Tahoe real estate market can be attributed to an improving nationwide market and low mortgage interest rates. Locally, prices and units sold were boosted by a strong snow season in 2016 (after four consecutive dry winters) and rising lake levels. Everyone was reminded that Tahoe thrives as a year-round destination, and confidence returned to the Tahoe buyer,” said Bill Dietz, principal broker at Tahoe Luxury Properties in a press release.
Local market highlights include Incline Village and Crystal Bay, NV posting a 14% gain in the median price of a single family home and the sales volume (216 units sold) reached an 11-year high. The Truckee market again was led by Martis Camp, which recorded 49 home sold in 2016 with a median price over $4 million.
Forecast: With another strong winter underway, and the national election behind us, expect the Tahoe market continue its upward trend back to the highs of 2006.
Download the detailed report here.
Download past quarterly reports here.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.