In January, new listing activity started to pick up after the typical annual low hit in December, and the number of new listings was significantly higher than in
January 2020. Luxury home sales in January 2021 were up a staggering 223% year-over-year.
NORTH TAHOE/TRUCKEE JANUARY* STATS:
Median Home Sales Price // $940K
Average Days on Market // 37
Median Condo Sales Price // $627,500
Average Days on Market // 53
Compare the average home sales price this January with January 2020, when the median sales price (inclusive of condos) was $652,500. The rise in value is in direct correlation to the rise in value per square foot. In January 2020, average dollar worth per square foot was $507. Last month it was $647. In fact, 20% of home sales last month sold for $2M+ while last January less than 10% of homes sold for that much.
Interestingly, the rise in home prices is not deterring buyers. In fact, buying is speeding up. Last January about 20% of listed properties sold within 30 days. This January that percentage was around 45%. This correlates with the average time listings spent on the market – 88 days in January 2020 and 42 days in January 2021!
Compare this with the amount, or lack thereof, of homes available to buyers. January of 2020 saw an average of just under 600 homes listed. Last month, only ~300 homes were available – that’s half as many!
Homes are consistently receiving higher offers than ever before and they are flying off the market faster than I’ve ever seen.
This indicates that the value of your home continues to rise. Buyers are looking at your property, hoping to get a piece of Tahoe mountain living.
If you’re wondering about the current value of your home, get in touch today. I will give you a home valuation, at no cost.
Interested in seeing a fraction of Tahoe’s sales first hand?
I would like to extend my utmost gratitude to all my sellers and buyers for the trust they put in me, as well as those realtors I have the pleasure of working with!
*These analysis were formed in good faith with data derived from sources deemed reliable and are subject to revision. All numbers approximate.
Come by and Say Hi!
We have a new office in the Northstar Village, across from Petra. If you’re in the area, swing by and say hi! We can chat about your real estate goals over a cup of coffee, tea, or glass of wine. I’ll give you an estimate of your home’s current value and help you browse available properties that fit your needs.
NEW RULES FOR TRUCKEE ADUs
Accessory Dwelling Units (ADUs) have been a hot talking point among the Truckee Town Council as they address current housing challenges. Essentially, the Town is making it easier for homeowners to understand land-use requirements, and they have set up an incentive package for new ADUs.
Home sellers who hire professional stagers sell their homes faster and for more money. Why? Staging your home shows it in its best light, and it helps shoppers envision themselves living there. First impressions are everything when selling. Read more about the benefits and costs, and how I can get you fronted for the cost of home staging.
Increase the value of your home over the weekend with these eight simple projects.
Buyers respond to certain home elements, like neutral paint colors, modern hardware, updated window treatments, and even LED lighting. Knock out these projects over the winter and get more for your property.
Compass is a licensed real estate broker. All material is intended for informational
purposes only and is compiled from sources deemed reliable but is subject to errors,
omissions, changes in price, condition, sale, or withdrawal without notice. No statement
is made as to the accuracy of any description or measurements (including square footage).
This is not intended to solicit property already listed. No financial or legal advice provided.
Equal Housing Opportunity.