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Don’t Forget to Spring Forward on Sunday! Market Update – 3/10/2022

Heading into Spring the national inventory of active listings is down 62.6% compared to 2020, before COVID-19. The February median active listing price is $392,000 nationally, up 12.9% from last year and up 26.6% from 2 years ago. The average home in the US lasted 47 days on the market in February, down 17 days from 2021 and down 32 days 2020. To sum it up it is still the hottest sellers market in history!

Year to Date Local East Shore Lake Tahoe, Nevada Stats:

  • Total Sales YTD: Condos: 27 | Homes: 18

  • Average Sales Price: Condos: $964,538 | Homes: $1,918,000

  • The median sales price: Condos: $677,500 | Homes: $1,437,500

  • Total dollar volume in East Shore NV: Condos: $25,078,000 | Homes: $34,524,000

  • Number of sales over $1 million: Condos: 4 = 15% | Homes: 14 = 78%

  • The highest priced sale: Condos: $5,665,000 (Tahoe Beach Club) | Homes: $8,700,000

  • Median Price Per Square Foot: Condos: $553.24 |  Homes: $624.14

  • Average Days on the Market: Condos: 95 | Homes: 125
We have had no new condos and only 4 new homes come onto the market so far this month. We currently have 7 active condos ranging from $374,900 to $1,750,000 for our listing at 600 #36 Hwy 50, in the lakefront gated community of Pinewild; the median condo price is $688,000. We currently only have 22 active homes on the East Shore ranging $1,275,000 to $35,000,000 with the median price of $3,450,000 and an average of 95 days on the market.
I will be sending an in-depth market update for the first quarter of 2022. If you would like to be included please reply with your current address and I’ll add you to my mailing list.
If you have anything you want to share with our community please let us know so that it can be included in future newsletters. We at the Zager Group are honored to continue to serve our community and are available if you have any questions or if we can provide you with any services, please feel free to reach out anytime. Thank you for the opportunity to serve you and for your continued trust and support!

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