Low Inventory – Lake Tahoe Homes for Sale
It’s that time of year, where we should be swimming in excess seasonal inventory, but our low inventory of Lake Tahoe homes for sale is anything but typical.
Normally our homes for sale in the greater Lake Tahoe area grows and our inventory levels peak between the 4th of July and Labor Day weekend, but market conditions have changed.
The Lake Tahoe market in North Lake Tahoe, between Kings Beach to Tahoe City and West Lake Tahoe from Tahoe City to Rubicon Bay, (Tahoe Sierra Multiple Listing Service areas 1-5) is close to being in a shortage situation.
Right now our inventory levels of Lake Tahoe homes for sale is very low and will become bad news for buyers that are waiting for the selection to improve.
Buyers are frustrated. New listings that are priced correctly are seeing multiple offers, and the prices are beginning to move up.
Long gone are the days of low-balling a listing, just because the market was bad. Think you’ll grab a bank foreclosure, or short sale? Get in line. The excess inventory is gone. Tahoe buyers that are not being aggressive on their purchase offers are getting shut out.
Most real estate markets do not turn direction over-night, but the decline in the inventory of Lake Tahoe homes for sale has been in the making since inventory levels peaked in 2008-2010. Each year fewer homes are coming on the market, and the scramble by buyers to pick out the best properties has become more competitive over the past few years.
The following chart shows how critically low the inventory of Lake Tahoe homes for sale was in 2005, and how 2012 is not far from away from those low levels. Traditionally our summer months mark the peak of our inventory, so what will this mean for our Fall and Winter season?
The Tahoe market is still a price driven market. As a Tahoe seller, reduced inventory levels is a good sign for price stabilization. Once price stabilization has occurred, low inventory levels will lead to higher prices.
Tahoe buyers who are waiting for lower prices, or another market collapse need to be aware of the significant decline in available Tahoe homes for sale that has occurred over the past few years.
Tahoe market conditions have changed and Tahoe buyers who really want a mountain home, cabin, or Tahoe lakefront are jumping in. Cash sales still represent 1 out of every 3 sales, which means this area still represents value.
If your plans include getting a Tahoe property now may be the time to get your Tahoe property, or create a buyers’ plan so when the right property comes on the market you’re in the best position to get it.
If you’re frustrated with our low Lake Tahoe homes for sale inventory, call me, I can help you find the right property at the right price!
Thinking about making Tahoe City, California your second home? Check out the homes that are for sale in Tahoe City here:
Want to see what condos are for sale in Tahoe City? Here are the current listings:
- Tahoe City Homes for Sale
- Tahoe City Condos for Sale
- Tahoe City Lakefront Homes for Sale
- Lake Tahoe Lakefront Homes for Sale
- North Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Homes for Sale
For all of your Tahoe real estate needs –
Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
Coldwell Banker, Tahoe City, CA CalRE#01908304
All information is deemed reliable, but is subject to change, and/or correction without notice.