February, with a week allocated to ski-related travel, turns into a hectic period for real estate sales. While the total volume of sales often drops, the premium segment of the Tahoe-Truckee market continues to thrive.
The winners of the season are, without question, savvy sellers taking advantage of laughably low inventory by coming to market now with extremely limited competition.
Current sellers face less than 3 months’ supply across all market sectors; and just 3 weeks’ supply in prices below $1,000,000.
In Tahoe Donner, the bell weather community for the Tahoe-Truckee region, more homes are currently pending than available listings; a previously unseen phenomenon that rewards those willing to market their home now rather than wait till the typical spring listing period.
In fact, with conditions so heavily weighted against buyers, a seller wishing to leaseback or seek some other concession to extend time in their mountain home may be accommodated.
Even premium price points, those above $1 million, are feeling the effects of limited inventory. Where balance typically exists at 1 year’s supply, current inventory offers just under 7 months. As an example, Northstar has only 5.6 month’s supply of homes and Gray’s Grossing only 4.6 month’s supply.
With new snow on the ground and market momentum building, the balance of ski season promises to be a busy period for real estate activity.