In 2016 we saw home values increase in our area over the previous year. However, we continued to have low inventory of homes for sale on the market, making it a challenging year for home buyers to find just the right home to purchase. Most of the Truckee - Lake Tahoe real estate market areas experienced a rise in both average and median home selling prices. The homes in the under $400,000 price range continued to sell fairly quickly and often in multiple offer situations.
Single family home average sales price statistics for 2016, for our whole Tahoe Sierra region, show an average increase of about 14% over the previous year. However, the overall statistics can be misleading because some very expensive homes have sold, which skews the data. Most communities of homes experienced average sales price increases in the range of 4% - 8%. For example, the average sales price increase for single family homes in the Tahoe Donner community was only about 4% over last year. In general, the average sales prices for condo homes held steady over last year and didn't really increase or decrease.
View the our complete 2004 - 2016 Tahoe Sierra MLS Market Activity Report.
Our market activity report shows the average sales prices of homes, and the % change in prices, in the Tahoe Sierra area from 2004 to 2016. This is an excellent summation of data to further your knowledge of the changes in home values in our area since 2004.
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