With a solid 12% increase in sales volume over the same period last year the selling season is holding on well. It however did not come across all areas equally. Greater Truckee saw the biggest increase at nearly 60%. With that big of an increase in one market means there has to be a sizable decrease somewhere else. Tahoe Donner was that somewhere else. How about a 32% decrease. Of the 4 groups we track it was the only one in the negative. I wouldn’t be surprised if that is at least some what corrected in the coming month. Tahoe Donner has been very active the last few weeks. Of course those sales won’t show up until October and November. The basin and Squaw Alpine are steady as she goes. Numbers very similar to last year. The strong sales do continue to allow the market to appreciate at a very sustainable pace. Don’t see that changing going forward without some significant development.
Though sales continue to do well they are in some respect still being restricted by the low inventory. Over all we are sitting at low numbers on a historical average and even about 10% below last years numbers. This might be showing up in the fact that while we are seeing some price reductions we are not seeing them in the volume we have in years past. I watch my daily updates very closely and am used to seeing sometimes twice as many price reductions and new listings this time of year. So far it has been fairly equal. We still see some properties selling an days and even some with multiple offers. We still have a sold sales month to go with October and then things will start to wind down.
The property management part of our business continues to grow and we are grateful for the handful of new long term rentals we picked up. Finding highly qualified tenants for each of them was easily done. Our ski lease and vacation rentals are nearly booked for the holidays and are filling in for winter quickly. If we can help you or anyone you know find a rental or manage a property please let us know.