The slow start to 2017 made for a big finish. The Tahoe Basin or areas 1-5 for our MLS saw a 54% increase in volume. Can’t help but wonder how much did a full lake have to do with that. Greater Truckee or areas 7 and 8 which does incorporate Truckee, Martis Valley, Donner Lake and even Donner Summit had a 32% increase with an average sale price of $1,018,004. 25% of the sales in the greater Truckee area were a million dollars or more. Tahoe Donner closed out the year with a very solid 26% increase in volume. I know as we went through the year the demand remained very strong and inventory was a limiting factor. I have said it before and will likely say it again, what would these numbers be if we had more homes to sell. If you have been thinking about selling it is still a very good time. If you are thinking about buying I would check in now and keep a sharp eye on the new listings. I just saw a new listing come on what I would consider well over priced but it is the only house for sale in a great neighborhood. Curious to see what happens with it.
The year-end wrap up would read like this, remember we had unbelievable amounts of snow to start the year. For most of January, February and March trying to find a house let alone show a house was a challenge. Homes were so buried it significantly delayed the start to what many would consider our normal selling season. Once the snow began to melt we saw the inventory ramp up like it normally would and with it sales. The effect of all the lakes, reservoirs and rivers being full was clear, the drought was over and people were excited to be in and around the water again. The remainder of the year saw very strong sales for both full time residents and second homes. Values continued the steady pace of appreciation. We saw a tremendous amount of new construction sales as builders struggled to keep up with that demand. There were dozens of new homes built and sold in and around Truckee. Much of that market being million plus dollar properties. So much so that the average price of the 1,160 single-family home sales in our region was $1,007,618. Hard to believe I know.