COLDWELL BANKER
2019 Market Report
Residential Properties – Single Family Homes and Condominiums
Activity January Through September 2019
Residential Sales Summary 2019
Total Residential Sales:
So far, fall activity has been very strong in 2019.
There were 162 sales in September (single family homes and condos), making it the second busiest month for sales so far this year. This surpasses September 2018, when there were 145 sales, and is the third busiest September in the last 10 years (over the last 10 years September has averaged 143 sales and ranged from 94 to 193 sales).
Through the first 3 quarters of the year, 988 residences have sold. This is a decrease of 5% relative to the 1040 sales for the same period in 2018. The average number of sales, for the first 3 quarters, over the last 10 years, is 945 (with a high of 1093 and a low of 745).
Of the total sales, 731 (74%) were single family homes and 257 (26%) were condos. In 2018 there were 801 single family homes sold and 239 condos in the same period.
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 16.54% of sales. This represents 53% more sales than our next closest competitor (10.81%).
REO & Short Sales: In this robust economy, distressed sales are rare. There has been 2 short sales and 2 REO sales so far this year.
Median and Average Sales Prices: The median sales price for through 3 quarters was $670,000 which is up almost 2% as compared to the same period in 2018 when the median sales price was $657,000. The average sales price is down 9.2% to $1,006,808 as compared to last year’s average price of $1,099,202 for the same period.
Sales Under $500,000: So far this year, residences priced under $500,000 represented just over 27% of sales or 270 properties sold. Of those sales, 168 were condos. For the same period in 2018 there were 264 properties sold in this price range, 144 of which were condos.
Mid-Range Market Sales $500,000 to $999,999: There were 484 sales between $500,000 and $999,999, representing 49% of total sales. 63 of the sales were condos. For the same period in 2018, there were 518 sales, 67 of which were condos.
Luxury Home Sales Over $1.0 Million: 234 properties sold over $1 million, so far this year, representing 24% of total sales. This is down from 258 sales in the price range in 2018. That’s a 10.3% drop in number of sales for the luxury market. This is a significant improvement as the number had been tracking in the 17-20% range through most of the year.
Active Residential Inventory Summary:
Active Listings: As expected, inventory is starting to drop as we start the fall season. Currently there are 588 residences for sale (459 homes and 129 condos), down from 680 a month ago. There are 201 residences in contract. 171 properties went in contract in September. Relative to the past 30 days activity, there is just under 3.5 months of inventory on the market.
What’s Going On In Tahoe?
The colors are changing and it is beautiful up here. Weather has been variable lately, but you can count on many beautiful days through the rest of October and November! Before you know it, we’re going to be skiing!
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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