Tahoe-Truckee real estate: Market continued growth in 2016
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Tahoe Luxury Properties recently released its 2016 Year End Tahoe Truckee Real Estate Market Analysis.
Compiled from data provided by both the Tahoe Sierra MLS and the Incline Village MLS, the report graphs sales volume and median price by North Tahoe-Truckee’s unique micro-regions with year-over-year data from 2006 through 2016.
The report shows that the Tahoe 2016 real estate market posted widespread gains in both units sold and median price.
“On the macro scale, the rise in this year’s Tahoe real estate market can be attributed to an improving nationwide market and low mortgage interest rates,” said Bill Dietz, principal broker at Tahoe Luxury Properties. “Locally, prices and units sold were boosted by a strong snow season in 2016 (after four consecutive dry winters) and rising lake levels. Everyone was reminded that Tahoe thrives as a year-round destination, and confidence returned to the Tahoe buyer.”
Local market highlights include Incline Village and Crystal Bay, posting a 14 percent gain in the median price of a single family home, and the sales volume (216 units sold) reached an 11-year high.
The Truckee market again was led by Martis Camp, which recorded 49 homes sold in 2016 with a median price over $4 million.
Forecast: With another strong winter underway, and the national election behind us, expect the Tahoe market continue its upward trend back to the highs of 2006.
This article was provided by Tahoe Luxury Properties, a full-service real estate company specializing in real estate sales and premier vacation rentals in the Lake Tahoe region. Visit TLUXP.com to learn more.