Tahoe - New Listings and Market Update
Proudly Affiliated With
Sierra Sotheby's International Realty
Greetings,
It's hard to believe today is the start of the last quarter of 2020. The third quarter redefined the Tahoe market for 2020. It was a fast-paced and competitive buying frenzy. Our team sold more in that single quarter than we do in a typical year. Our days on market shrank from our average of 120 days to less than 10 days on market; and we went from our normal single-offer negotiations to multiple offers and bidding wars. The third quarter was challenging for buyers, as inventory was limited, and competition was fierce. Hence, the majority of the sales in the third quarter closed over the asking price.
It was and continues to be a seller’s market. This has resulted in some buyer fatigue. Many buyers have thrown in the towel and put their house hunting on hold until “the market calms down.” Nonetheless, demand is still outpacing the supply in most neighborhoods, which will continue to fuel the competitive nature of our current market.
The fourth quarter will most likely be characterized by little surges of sales, as new listings come on and the anxiously awaiting buyers pounce on them. We won’t have as much inventory to sell, so expect the numbers to be lower than the third quarter. While the number of transactions will be down, I don’t anticipate prices to dip at all. We look forward to continuing riding this real estate roller coaster, and will keep you informed along the way.
I will be analyzing the numbers, and I look forward to sharing a detailed Q3 report with you next week. Keep an eye out for my Q3 Market Recap.
Fall is in full swing in Tahoe. It's an ideal time to come up and explore the real estate, as well as, the hiking and biking trails. Here are some great trail recommendations: Click Here to View Trails. Feel free to call me for other recommendations.
Enjoy the new listings for this week in the Tahoe markets we service, as well as some of my Top Picks for the week, outlined below.
MY TOP PICKS OF THE WEEK
Stunning Home on the Meadow in Lahontan, 4bd/4ba, 3,280 sq ft, $3,500,000
New Development in Truckee, 3bd/3ba, 1,925 sq ft, $969,880
Walk to the Beach in Incline Village, 3bd/3ba, 1,936 sq ft, $1,400,000
Below is a breakdown of the new listings which came on the market in the last seven days. Please contact me if you would like to view all current listings that match your criteria, and/or sign up on our website to get auto-notifications when new listings come on that might be of interest to you.
NEW LISTINGS - HOMES/CONDOS
- All Locations: Click Here to View
- Donner Lake: Click Here to View
- Donner Summit: Click Here to View
- Incline Village and Crystal Bay: Click Here to View
- Lake Tahoe North Shore: Click Here to View
- Lake Tahoe West Shore: Click Here to View
- Northstar: Click Here to View
- Squaw/Alpine: Click Here to View
- Tahoe Donner: Click Here to View
- Truckee Golf Resort Communities: Click Here to View
- Truckee Neighborhoods: Click Here to View
NEW LISTINGS - HOMESITES
- All Locations: Click Here to View
- Donner Lake: no new listings this week
- Donner Summit: Click Here to View
- Incline Village and Crystal Bay: Click Here to View
- Lake Tahoe North Shore: no new listings this week
- Lake Tahoe West Shore: Click Here to View
- Northstar: no new listings this week
- Squaw/Alpine: Click Here to View
- Tahoe Donner: Click Here to View
- Truckee Golf Resort Communities: Click Here to View
- Truckee Neighborhoods: Click Here to View
We hope this information is helpful. Jeff and I are experts in the second home luxury market of north Lake Tahoe and look forward to the opportunity to help you buy or sell your property. Thank you for your continued confidence, support, business, and friendship. We are honored to work with you while living in this magical place we call home.
If you have friends/family interested in selling or buying property anywhere in the world, please forward my newsletter on to them and let me know how you’d like me to follow up with them. The Sotheby's network of professionals extends worldwide, and we strive to create relationships with quality agents throughout this network. We will take great care of them.
Best regards,
Breck Overall
Global Real Estate Consultant - CA #01760070, NV #0184483
Sierra Sotheby’s International Realty
Overall & Hamilton Group - Real Trends #1 Ranked Team in Tahoe
Cell: 530.318.3452