Life Cycle of the Tahoe Real Estate MarketRidge Cowee, August 16, 2015 in Real Estate
In resort and destination communities like Lake Tahoe, the real estate market ebbs and flows with the visitors and the seasons. While we are still in the heart of the summer season, the end is drawing ever nearer causing sellers to re-evaluate their pricing and their desire to relinquish themselves of their properties. Each year around this time we begin to see a broad stroke of price reductions throughout all market sectors creating a prime atmosphere for buyers to take advantage of seasons end.
With sellers getting eager to sell, now is an excellent time for buyers who have been contemplating a purchase or waiting for the best “deal” to make their move. As fall rapidly approaches and the school year begins, visitor numbers to Tahoe dwindle and sellers begin to remove their properties from the market and plan winter rentals.
This is all good news for buyers although it can be a catch 22. If you wait too long for prices to fall in order to get a great deal you run the risk of someone else making an offer and successfully purchasing the property.
As cycles go, this process will begin again in early spring with the onslaught of summer visitors, although list prices will inevitably be higher and potential price reductions less. If you are a buyer considering a purchase in Tahoe this summer or early fall, now is the time to be decisive. Choose your property and make your move!
Recently Reduced by $50,000
11239 Henness Road
4 bed | 4 bath | 3,406 sq.ft.