October 2018 Market Update

Teddy Runge
Published on October 13, 2018

October 2018 Market Update

September is typically the peak of real estate closings in any given year, but the last 30 days does not support this historic trend. New monthly data shows closing volume across the Tahoe Sierra MLS fell 30% in September from the month prior. Furthermore, the average sale price dipped below $1,000,000, for the first time in Q3 2018.

It’s true the September drop runs counter to normal season patterns, but it appears our peak happened a month earlier. August 2018 was so dynamic it would have been very difficult to sustain and top those record numbers.

Highlights from Last Month: 

  • 122 new escrows 
  • 154 single family and condo sales 
  • $972,516 sales average
  • 97% list/sales ratio
  • Record sale in Martis Camp at $11,750,000

Looking ahead, Q4 appears poised to maintain at the steady pace of recent years. At 6 month’s supply, there is sufficient inventory to the consumers currently engaged.  Though many homes are accumulating significantly days on market for having been ambitiously priced.

New MLS Listings Past 30 Days

Northstar*: Click to Preview
Martis Camp: Click to Preview
Gray’s Crossing: Click to Preview
Old Greenwood: Click to Preview 
Lahontan: Click to Preview 
Schaffer’s Mill: Click to Preview 
Tahoe Donner: Click to Preview 

* MLS data only.  Developer activity maybe not included. Call for developer details!!

Please inquire for a complete list of active properties and sales history for any specific neighborhood in Tahoe.

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