Rankin Richey Real Estate Team, Real Estate Agents in Tahoe City, Ca
Rankin Richey Real Estate Team Publishes New Article on Real Estate Buying Trends in Lake Tahoe
TAHOE CITY, CA, UNITED STATES, November 26, 2024 /EINPresswire.com/ — Rankin Richey Real Estate Team, a Lake Tahoe Real Estate Family Team is excited to announce the release of their newest blog post on Real Estate buying trends in Lake Tahoe in 2024. Based on Multiple Listing Service data, sales of existing homes rose 3% from where sales were a year ago. This is the first annual increase in over three years for the Greater Lake Tahoe area.
Nationally, the median existing-home price was up 4% from last year at this time. Inventories remain stuck at historically low levels, standing at just a 4.2-month supply nationally, far below the 6-month supply typical in a balanced market, however inventories were 19% higher than a year ago. By contrast, the number of sold single family homes in the greater Lake Tahoe area was up 48% from the first quarter of last year, with the number of condos sold up 30% from last year. That is a good sign that the market is strong in our area and that homes are available and buyers are looking to act.
The average home price in Lake Tahoe is up 15% this year, with homes under 1M up 41% and Condos under 1M up 38%. What this indicates is that real estate in the Greater Lake Tahoe area is still in high demand.
Greg Rankin, owner at Rankin Richey Real Estate Team, says: “Currently we are seeing an increase in new listings coming on the market, and as we head into the new year we are feeling optimistic that the real estate market for the Greater Lake Tahoe area, as well as Reno, Sparks, and Carson will be strong.”
At Rankin Richey Real Estate Team, not only do clients get insider knowledge of the Lake Tahoe area from two long time locals, but also a tailored experience based on the client’s individual preferences and needs in finding the right Tahoe home and area for them.
For more information, or to get all your questions answered, please send a message to Our Contact Page, or call (530) 913-6020.
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Rankin Richey Real Estate Team Real Estate Agents in Tahoe City, CA
We are a father daughter real estate team; two locals who are Real Estate agents in Tahoe City, Ca and are passionate about helping YOU find your piece of the Tahoe Lifestyle.
As Tahoe City California Realtors and longtime locals, we are your local insiders to help you find the best home that fits your unique Tahoe lifestyle. We cover the whole of the Lake Tahoe region which includes Tahoe City, Westshore, Incline Village, South Lake Tahoe, and Truckee, with all of your real estate needs.
Contact Information: (530) 913-6020, 531 N Lake Blvd, Tahoe City, CA 96145
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