Nevada – Lake Tahoe Homes for Sale Market Update – Fall 2016:
The Nevada side of the lake from Glenbrook to Upper Kingsbury and Stateline had a 25% increase in sales to date from this time last year in 2015. Last year we had 82 sales by October 27 and this year we have a total of 103 sales and the sales appear to be very strong still with 17 properties in pending status. We currently have a total of 105 properties on the market. See the graph below to show when those sales happened in relationship to the amount of homes on the market.
The Nevada side of the lake does have higher average days on the market than California. See below for this year’s stats on how long it took on average to get a home sold.
This is the case for many reasons, but also likely factoring into the equation is the fact that average home prices are higher on the Nevada side so fewer buyers qualify to buy on that side of the Lake. Many people prefer living on the Nevada side of Lake Tahoe due to the tax benefits of living there. In addition, that side of the lake receives less snowfall and it melts off more quickly so there are less “winter hassles” for those who don’t like having as much snow in their front yard.
As always don’t hesitate to ask us if you want specific data or comparable information on a specific house or neighborhood. We are always happy to help and provide you with an individualized report tailored to your specific real estate needs. We hope you are as excited as we are at the upcoming ski season just right around the corner! Here’s hoping that Lake Tahoe has a great winter with LOTS of snow this year!
