In the first half of 2021, we continued to see significant growth of both sales volume and median price of single-family homes in the Tahoe region. The flurry of buying activity that began in Q2 2020 has yet to subside. High demand and increased sales eroded the supply of available homes. Buyers’ offers became more and more aggressive, which, ultimately, increased prices.

All micro-regions, with the exception of lakefronts, reached historic highs in both sales volume and median price. For the first time in history, all micro-regions have a median price over $1 million. Demand for Nevada continues with sales volume doubling year over year and median price breaking the $2 million mark for the first time ever. While our sample size of single-family lakefront home sales between Rubicon Bay and Incline Village is small, which can impact statistics, it is notable that 15 lakefront homes sold in the first half of 2021 versus six in the same period of the previous year. We have now seen a full year of vigorous growth trends, and we expect this pace to continue throughout 2021.

Q1 & Q2 Tahoe Sierra MLS Overview

Q2 2021 Lake Tahoe Real Estate market Update

An update on single-family homes in California on Lake Tahoe’s North and West Shores, plus all of Truckee, Northstar, Olympic Valley and Alpine Meadows:

Single-family homes sold increased 21% year over year.
Median price increased 64% year over year.
Median price and sales volume reached historic highs.
105 of 520 homes (20%) sold over $2 million.

North & West Shore

Single-family homes sold increased 45% year over year.
Median price increased 57% year over year and is on a 9-year growth trend.
Median price and sales volume reached historic highs.
37 of 194 homes (19%) sold for over $2 million.

Incline Village & Crystal Bay

Single-family homes sold increased 105% year over year.
Median price increased 59% year over year and is on a 6-year growth trend.
Median price and sales volume reached historic highs.
71 of 125 homes (57%) sold for over $2 million.

Lakefronts

Single-family homes sold increased 150% year over year.
Median price decreased 1% year over year.
15 of 15 homes (100%) sold for over $2 million.

* Note: Small sample size can heavily influence data. Median price does not directly correlate to market appreciation/depreciation.

Truckee

Single-family homes sold increased by 11% year over year.
Median price increased by 62% year over year.
Median price and sales volume reached historic highs.
68 of 326 homes (21%) sold for over $2 million.