The first quarter real estate stats for the region continue to reflect substantial growth. And that comes as no surprise to those have chosen this land of adventure and commerce to call home.
This past month the local media shared two significant stories that showcase the region’s continued growth in popularity.
Real Estate Continues to Thrive
Chase International, whose Incline Village, NV office is based here at Tahoe Time Plaza, recently announced a recap of what the market looked like for the first quarter of 2018 as compared to the same time last year.
According to Sue Lowe, corporate vice president of Chase International, "Professionals are continuing to relocate to Reno, which drives the sale of these upper-end homes. We are, however, still dealing with record low inventory in the region.”
The Reno market saw an impressive 247 percent increase in homes sold and noted a 17 percent increase in its median price at $468,700.
Just over the hill from our corporate offices on Lake Tahoe’s North Shore, Carson Valley, NV came in with some of the most astonishing stats reporting a 300 percent jump in homes sold for over $1 million and a 14 percent increase in its median house listing price at $400,000.
Here at the Lake, 2018 also reported in with a 68 percent increase in homes priced over $1 million with the median price of homes increasing 25 percent with a cost of $665,000.
And right here in our own hometown, Incline noted a 121 percent increase in the sale of million-dollar homes with a 29 percent increase in the median price at $830,000.
Summing up her report, Lowe noted: "Record low inventory around the lake is creating a seller's market," said Lowe. "The new tax laws and incentives in Nevada are fueling further interest and activity in those communities."