
North Shore Lakefront 5-Year Trend
Historically, second homes have been sold when the lack of utilization no longer justifies continued ownership. That was not the case in 2020. Owners not only held onto their properties, but they utilized their second home more than ever. Occupancy skyrocketed with neighborhoods full and lights on; families enjoying their homes, and most importantly, time with one another.
Pairing strong Buyer demand with the lack of Sellers to provide inventory, prices have moved in one direction, up… The question, when writing an offer is no longer “what is it worth?” based on previous sales, but rather, “At what price would you be disappointed someone else out bid you?” This has resulted in prices rising well beyond the norms of a stable market. The National Association of Realtors has cited an approximate 15% increase in home prices nationally over 2019, while Lake Tahoe has seen upwards of twice that increase! It comes as no surprise to us that “Lake Tahoe” was the #1 searched location on national real estate websites. Lake Tahoe has always been special, now it’s HOT.
SEE FULL MARKET REPORT STATISTICS
NOW IS THE TIME TO SELL
We are thankful to share our sales for 2020. We continue to see high demand for property at Lake Tahoe, but lack the inventory to satisfy the demand. Interest rates, currently at an all-time low, are showing potential for increase with the price of Fannie Mae Mortgage bonds net-decreasing slightly over the past week, and 1o-year treasury yields on the rise.
If you have contemplated plans to sell your Lake Tahoe property, we would urge you to consider now as an incredible time to do so. Call us today for a valuation of your property for your review and planning purposes.
MILLER & HAUG in the Media
LRE Magazine, January 2021
LRE Magazine November 2020
INMAN Magazine, June 2020
SF Gate, July 2020
SF Gate, August 2020
SF Gate, June 2020
Sacramento Bee, September 2020
Mansion Global, March 2020
SF Curbed, March 2020
Sierra Sun, January 2020
Sonoma Index-Tribune, August 2020
Sacramento Bee, July 2020
Hypebeast, March 2020
Fox40, February 2018
KOLO TV, February 2018
We are proud and thankful for the media coverage our properties have received to ensure our clients’ success.
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