The 1st Quarter of 2014 has been a study of contrasts for the
Tahoe-Truckee Region as the impacts of a sub-par winter battle with increasing demand and plunging inventory for real estate.
The total number of transactions through the first three months of the year has dipped 25% from the same period in 2013; a figure roughly proportionate to the drop in skier visits through the first half of the season. Average price, however, has surged by nearly 29% from $694,264 to $901,111.
The luxury real estate segment has lead the way with two lakefront transactions greater than $10,000,000 and 42 total sales greater than $1,000,000. Knowing that luxury sales generally gain momentum throughout the calendar year, this represents an excellent first quarter.
Read full Q1 2014 Market Report here.