The Gemme Group Mission is to list and sell the finest properties throughout the Lake Tahoe and Truckee Regions. Through are partnership with Sotheby's International Realty we are blessed to have access to this research.
The third quarter reports mark the end of the summer selling season and the begining of the, "end of the year push". The Tahoe Market is remaining strong with wonderful opportunities for both buyers and sellers.
Buyers are seeing an increase in average days on market traditionally indicates more inventory from which to choose and allows for more time to make real estate decisions. Couple that with low mortgage rates, stale inventory, and increasingly motivated sellers, buyers are negotiating some pretty good deals.
Sellers are benefiting across the many neighborhoods where prices continue to grow. An influx of full-time residents from California's surrounding urban/metro markets has driven demand for newer and updated move-in-ready homes. Agents are reporting pent-up demand from selective buyers who are waiting for quality homes to come to market. The Sellers who overpriced are being left behind and are seeing their properties sell below prior market pricing.
Trends: We are noticing a strong trend of people elevating their lives by selling homes that no longer suit their lifestyle and buying homes to accommodate their perceived growth for the next 10 years. The market supports this trend with 1031 exchanges, selling at the top of the market and absorption rates of overpriced stale inventory.
Heading into fourth quarter, we anticipate a more normalized market where buyers cautiously hold out for the right home while overly ambitious sellers become more realistic about pricing.
These reports offer a snapshot view of diverse inventory and multiple price points. To see how the market is trending in your neighborhood follow the links below to see the data broken down by the region’s very diverse communities. If your neighborhood is not listed, or you're unsure about the data, please contact me at (530) 277-8881 or email me at David@gemmegroup.com
"We look forward to helping you or someone you love." ~ Dave
"We look forward to helping you or someone you love." ~ Dave
Interested to know what your home might be worth in today's active market? Looking for primary home, vacation or investment opportunities? I'm happy to assist or available to connect you with a trusted agent in another market.
