Lake Tahoe Real Estate Market Remains Strong Into 2021

Now, more than ever, Tahoe is in the spotlight. Real Estate inventory levels cannot keep up with demand. If you are contemplating selling, now is the time. As we head into the new year, we look back on 2020, and the incredibly tumultuous environment our world experienced, and continues to maneuver through. The year saw an incredible resurgence of creativity and resilience. Families and businesses pivoted to adjust to the ever-shifting status of things.

From our retreat at Lake Tahoe, we saw an opportunity recognized, where the great outdoors became an answer to the release and freedom sought by so many. Lake Tahoe has always provided an escape from the confines of day to day life, and that was wholeheartedly recognized this past year. We saw an influx of Buyers coming to the Lake Tahoe region seeking a new lifestyle combining career, recreation and relaxation. The escapism combined with the newly underscored ability to work remotely, greatly stimulating demand for property.

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.

2020 Market Reports

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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