The winter of 2018 / 2019 is coming to an end but not without leaving some marks. The impact on sales has been following the same path we had after the record setting 2016 / 2017 winter. Though this winter was not quite as heavy it certainly had its moments. These heavy winters reduce the number of properties that come on the market which in turn, reduces sales volume. We are slowly coming Continue Reading
Big Snow Makes For Fewer Sales
Record snowfall in February brought sales numbers in almost identical to snowmageddon February 2017. Squaw Valley reported just over 300 inches or 25 feet of snow in February this year eclipsing their biggest single month snowfall record which was January 2017. You can probably imagine the challenges of selling property with snow piled everywhere, roads that are nearly impassable at times Continue Reading
January is Better Than Expected
January total sale numbers came in only marginally lower then last year. That is very good news when you consider the stock market was in turmoil, the government shut down was well under way and interest rates were near recent highs. Final sale volume numbers were down by a just over 10%, dropping from 83 last year to 74 this year. The decline was almost exclusively in the greater Truckee market Continue Reading
December and Year End Sales Below 2017
A significant drop of 37% in total sales for December did not come as a complete surprise. We knew a drop was coming but didn’t think it would be by this much. While most regions are seeing declines in the teens or single digits we saw bigger declines. A decline of 23% in the Tahoe basin and 28% in Tahoe Donner don’t seem to significant. The drop of 43% in greater Truckee does get my attention and Continue Reading
Things to Think About While Waiting For Snow
Post elections and things are status quo on the real estate propositions 5 and 10. I am not surprised with the public not wanting change. While I did believe proposition 5 had some good potential to effect change it was not for the same reasons they were selling it on. It would have likely created more opportunity for many and created more sales annually, it was not going to generate any new Continue Reading
What Happened in September?
A little bit of everything. Overall sales remained strong though it seemed we started to see a slight market shift. Sales volume did increase in Tahoe Donner but declined in the basin, Squaw / Alpine and greater Truckee. By the numbers TD increased sales from 29 to 37 or 27% while the basin dropped from 66 to 52 or 19%, Squaw / Alpine dropped from 16 to 6 or 62% and greater Truckee dropped Continue Reading
What is Happening in Tahoe?
Apparently, the crystal-clear blue waters of Lake Tahoe are being rediscovered. Sales for the month of August in the basin jumped by over 20%,from 53 to 65 sales, compared to a year ago. The increase was almost exclusively in single family homes. This occurred while Squaw Alpine dropped by 33% from 12 to 8 sales, and all but one of those were condo sales. Tahoe Continue Reading
March Weather Effects on April Sales
After a strong start to the year with the light winter conditions, it would appear the heavier winter weather of March did have an effect. With 80 total sales in April we were actually 4 sales behind last year. Last year sales, because of the huge winter were 22 fewer then 2016 or almost 25%. Now it might not all be weather related either. Inventory continues to struggle which makes finding the Continue Reading
Less Snow Does Not Mean Less Sales
The early signs of a dry winter may be starting to surface. Likely not in the way you think. At the end of February 2017 we had huge amounts of snow everywhere and it was a struggle to just get around let alone sell real estate. The thing to recognize is that prior to the second week of January 2017 when snowmageddon started the year had actually been fairly dry. That is actually a good thing for Continue Reading
Help, We Are Having An Inventory Emergency!
What constitutes an inventory emergency, how about just 20 homes and 5 condos available for purchase in Tahoe Donner as of today. Homes ranging from $519,000 to $1,325,000 and condos ranging from $249,000 to $559,000. With over 5,000 homes and condos a total of 25 properties available is crazy. Possibly even crazier is the fact that there are 26 homes and 4 condos or 30 total properties in Continue Reading
