Lake Tahoe Home Sales May 4, 2020

Lake Tahoe Real Estate Market Weekly Report 5/4/20

We are beginning to see the economy open slowing and cautiously in some states and more aggressively in other states. Here locally in the south and east shore of Lake Tahoe, we are seeing an uptick in sales activity. As I had mentioned before, the real estate community is continuing to take precautions to reduce risk of infection. Wearing masks and social distancing will become the new normal for the immediate future. The good news is that we are finding new ways to show homes via internet. This has reduced the physical showings while increasing the sales activity.

On May 16th, Chase International will be conducting a “Virtual Open House” for all Chase International properties in the region. It will be mostly advertised on social media. To receive an invitation, please contact me at [email protected] For Sellers, this is an opportunity for extra market exposure. Please contact me for more details.

Chase International has already created a new branding to distinguish our listings from the rest. Properties that meet the criteria will be promoted as “Chase Ready” properties. These properties will have a home inspection, seller disclosures, home warranty and a property profile for prospective buyers to review upfront. This will give the buyer more transparency and the seller a better price. Buyers will feel more confident making a stronger offer with less unknowns. Additionally, this will help to reduce seller concessions later and cancellations due to unexpected repair conditions.

Here are the numbers from the past week beginning on April 27th, 2020. This data is extrapolated from the South Tahoe Association of Realtors MLS (Multiple Listing Service) and the Northern Nevada Regional MLS.

South Lake Tahoe

  • 18 New Listings
  • 7 New Pending Sales
  • 1 Withdrawn & 1 Cancellation
  • 9 Closings

Nevada East Shore of Lake Tahoe

  • 3 New Listings
  • 6 New Pending Sales
  • 2 Closings

From the numbers above, you will notice that the number of new listings coming onto the market is accelerating. There is an uptick in pending sales as well. I am optimistic that this will be a continuing trend as we draw closer to summer and the economy opens more.

For local homeowners that are receiving this report, please contact me to receive an updated home valuation report. For those that are still hoping to buy a home at Lake Tahoe, let’s schedule your tour! Please contact me anytime with any questions. I look forward to hearing from you, [email protected] Stay Safe!