Typically this time of year I am updating you on all of the fantastic homes coming to the market on the lake. This year, however, I am compelled to bring to everyone’s attention all of the great deals that are to be had within our ski resorts after 4 years of drought! If you have been on the fence, now is the time to hop off and take a look … it will snow again.
Lakeside properties are coming to the market much earlier than last year. Last year we had a massive spike in inventory before Memorial Weekend, followed by a flurry of sales that lasted into July. This year we are seeing the same trend, yet earlier. Since April 1, we have seen 180 properties hit the market and with ski resorts closing, buyers have shifted to thoughts of summer and are now beginning the home search earlier.
This April, the luxury segment of the market over $1M reports only 13 home sales. 94 homes have sold at a median of $497,000, where we continue to see multiple offers. 88 properties have closed at a median of $472,000. Below you will also find Pacific Union’s 1st Quarter market report. The statistics are interesting.
The biggest news in our region is the Squaw/Alpine Gondola connection … a dream for the area since the 1960’s. There are many that are opposed, however I believe the Lake Tahoe and Truckee Region will flourish as a destination in the international community as a result. View Video Here.