2017 Tahoe Truckee End of Year Market Reports
With over 1.5 BILLION in sales volume, up 5.6% over 2016, 2017 was marked by a record amount of snow fall and an epic ski season, leading into an equally amazing summer season, all fueling the demand for luxury real estate. Q3 and Q4 were the busiest on record in the Tahoe Truckee area. Lakefront properties began trading early in the year, resulting in over $130M, far surpassing the previous year’s sales on the lake.
2017 significant sales include 2 lakefront homes in Meeks bay closing at over $10M each in March, a record sale on Donner Lake at $4.5M, an $8.350M home in Martis Camp, a record sale in Mountainside at $6.350M, and an off-market ski house sale in Squaw Valley at $4.250M.
As we look forward to 2018, we anticipate continued demand being met with just a 3 month supply of inventory, while 2018 tax reform may create investor demand with potentially favorable changes including the new real estate income deduction.
Don’t hesitate to call me to discuss individual area market statistics contained in year-end reports below. Happy New Year ~ Sam