With a strong winter, and Buyer confidence moving into summer of 2016, we saw the highest sales volume in the Lake Tahoe and Truckee area in over ten years. See graph below, blue line. From June to September 2016 we saw the highest summer sales on record, which escalated into September, representing $197,151,867 in sales, the highest sales of any month in the last ten years. This amount is significantly higher than the volume of sales at the height of our market, back in 2006, whose sales volume closed at $118,680,100.
2017 has started off with the highest sales volume in the last 11 years for the month of January. Single family homes sales on a unit basis were lower this month as compared to 2016, (68 versus 72). Condo home sales remained at the same level, but at a significantly higher value per unit. 2016 January condo sales were at $6,698,010 and this January 2017 we closed condos out at $8,454,500 in sales. With the amount of snow we were getting in December to January, the condo sales over single family homes sales makes a great deal of sense. Homeownership up here does sometimes take a great deal of work and maintenance, and a condo offers a place for respite, without all the work!
With January off to such a great start, I expect this year to move into yet another successful, and hopefully record-breaking year.
And with an incredibly wet winter, with over 23 feet of snow in January, and now over 200% above normal precipitation for this time of the year, we’re apt to see full and bountiful Lake Tahoe this summer. The Lake is already incredibly full. Just a few more feet, and we’d see the snow above some piers. Yes ABOVE.