After a year of robust sales volume and modest appreciation in the Lake Tahoe real estate markets, 2014 is off to a great start! January 2014 was characterized by lower inventory levels which lead to a drop in sales volume, pricing went up significantly over January 2013 due to high buyer demand and a significant decrease in Short Sales, REO’s and a 25% increase in sales volume for homes priced over $1M. Over the last 6 months we have seen a considerable decrease in the number of distressed sales (REO and Short Sales) and this theme should continue throughout 2014 which will help with appreciation in the Truckee and N. Lake Tahoe real estate markets. Strong buyer demand for Lake Tahoe real estate and low inventory levels look like a recurring theme that will be present in 2014 which is great news for sellers but will create competition between buyer groups and should help push Tahoe real estate prices higher.
The chart below shows January single family sales over the last 7 years which I think you will find helpful to assess the current strength of the Lake Tahoe real estate markets.
January 2014 Tahoe Sales vs. January 2013 Sales
| January 2014 | January 2013 |
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I would be happy to talk with you and discuss the Lake Tahoe real estate markets so please feel free to call or email me with any questions.
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David Westall, Realtor
OLIVER LUXURY REAL ESTATE
P: 530-448-9882
David@WestallRealEstate.com
www.WestallRealEstate.com
CA DRE# 01796995
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