Coldwell Banker -2019 Year End Real Estate Market Report
North Lake Tahoe -Truckee
Residential Properties – Single Family Homes and Condominiums
Activity January Through December 2019
Residential Sales Summary 2019
Total Residential Sales:
The year finished strong with 106 sales in December (single family homes and condos) with a sales volume of $95,694,296. The number of transactions surpassed December 2018, when there were 84 sales. This marks the fourth consecutive month in which there were more sales in 2019 than 2018.
For the year, 1,397 residences sold in 2019 for a total of $1,366,568,362. The number of transactions represents a decrease of just over 1% relative to the 1,412 sales in 2018. However, sales volume dropped by over 11% from $1,538,271, 907.
This is the 4th highest number of sales in the last 10 years and the 3rd highest sales volume.
Coldwell Banker Ranks #1: Among all brokerages in North Lake Tahoe and Truckee, Coldwell Banker continues to rank #1 in total number of sales. For the previous 12 months, Coldwell Banker represented 16.88% of sales. This represents 50% more transactions than our next closest competitor (10.53%).
REO & Short Sales: In this robust economy, distressed sales are rare. There were just 2 short sales and 2 REO sales in 2019.
Median and Average Sales Prices: The median sales price for the year was $670,000 which is up 1.5% as compared from 2018 when the median sales price was $660,000. The average sales price is down 11.1% to $980,321 as compared to last year’s average price of $1,089,427.
Sales Under $500,000: Residences priced under $500,000 represented just under 28% of sales or 385 properties sold. Of those sales, 239 were condos. For the same period in 2018 there were 366 properties sold in this price range, 202 of which were condos.
Mid-Range Market Sales $500,000 to $999,999: There were 681 sales between $500,000 and $999,999, representing almost 49% of total sales. 80 of the sales were condos. For the same period in 2018, there were 700 sales, 90 of which were condos.
Luxury Home Sales Over $1.0 Million: 331 properties sold over $1 million, representing just under 24% of total sales. This is down from 346 sales in the price range in 2018. That’s a 4.5% drop in number of sales for the luxury market. This is actually a significant improvement in the last few months as the number had been tracking down 17-20% range through the first half of the year.
Active Residential Inventory Summary:
Active Listings: As expected, inventory is down for the winter months. Currently there are 477 residences for sale (262 homes and 115 condos), down from 680 three months ago. There are 106 residences in contract. 76 properties went in contract in November. Relative to the past 30 days activity, there is a little over 6 months of inventory on the market.
Please see the attached charts for more neighborhood by neighborhood details and long term trends.
Contact Me to Find Out More about the Opportunities Available in the North Lake Tahoe-Truckee Market.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data's accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. CA-BRE License # 1908304