August Activity within the Tahoe-Sierra Market

Not surprising considering our smokey month, August saw a moderately sluggish sales period for our Truckee and Lake Tahoe areas, and some remaining sellers are considering modest price reductions to move their homes. The strongest sales activity occurred in single family homes between $300,000-$699,999, and in condos under $300,000. Tahoe Donner, a typical indicator of the general market overall, saw a total of 27 single family homes sell, while 78 remain active on market. There is still a lot to choose from out there, and we continue to see inventory hit the market on a daily basis. Today's buyer is patient, educated in their targeted market, and decisive in their offers. And, as it was at the beginning of the summer, cash is being used by more and more buyers. My last 4 transactions were all cash transactions, and I see a 5th cash transaction in the future. Desirable properties to watch out for as we enter into this fall include homes within Tahoe Donner, The Boulders, Squaw Valley (condos), and Northstar.

August Market Report