Residential Properties – Single Family Homes and Condominiums
Activity January 2020
Total Residential Sales: A new decade begins! After a strong ending to 2019, we’re now looking at the roaring 20’s!
The year started out on a strong note with 86 sales (single family homes and condos) and a sales volume of $89,287,077. The number of transactions surpassed January 2019, when there were 76 sales. It also ties for the largest number of January sales in the last 10 years (tied with 2018). This marks the fifth consecutive month in which there were more sales than the same month in the prior year.
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 16.68% of sales. This represents 57% more transactions than our next closest competitor (10.61%).
REO & Short Sales: In this robust economy, distressed sales are rare. However, there was 1 REO sale and one NOD sale in January.
Median and Average Sales Prices: The median sales price for January was $655,000 which is up just slightly as compared to January 2019 when the median sales price was $650,000. The average sales price is up 6.3% to $1,038,221 as compared to last January’s average price of $976,992 (eliminating the $37 million sale which is an outlier).
Sales Under $500,000: Residences priced under $500,000 represented just under 27% of sales or 23 properties sold. Of those sales, 14 were condos. In January 2019 there were 28 properties sold in this price range, 18 of which were condos.
Mid-Range Market Sales $500,000 to $999,999: There were 42 sales between $500,000 and $999,999, representing almost 49% of total sales. Six of the sales were condos. In January 2019, there were 29 sales, including just 1 condo.
Luxury Home Sales Over $1.0 Million: 21 properties sold over $1 million, representing just under 25% of total sales. This is up from 19 sales in January 2019.
Active Residential Inventory Summary:
Active Listings: As expected, inventory is down for the winter months. Currently there are 366 residences for sale (248 homes and 118 condos), down from 680 four months ago. There are 129 residences in contract. 94 properties went in contract in January. Relative to the past 30 days activity, there is a little under 4 months of inventory on the market.
What’s Going On In Tahoe?:
Part of the reason the real estate market is strong is Mother Nature . . . January and February have been very dry. Thankfully December snowfall was strong, so there is still decent skiing to be found. That said, there are also a lot of nice walks and bike rides to be enjoyed in the unseasonably warm weather. Come on up for a visit!
Contact Your Coldwell Banker Agent Today 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