With summer just around the corner, real estate offices throughout the Truckee and Lake Tahoe region are gearing up for what may be one of the busiest summer sales seasons in a long time. And as an architect who designs and remodels homes in the Lake Tahoe and Truckee area, that’s good news for us as well.
Home Values Soar on Tahoe’s North Shore/Nevada
Just this past month, we received a recap of the Q1 reports and the results were impressive. No matter what side of the lake one seeks to buy or sell a home, the market continues show great promise for a good real estate sales year ahead.
Most impressive are the results noted about Lake Tahoe’s Nevada side where sales volume increased by 45%( year-to-year) and the median price increased by 25%. Authorities in the business attribute the state’s tax-friendly offerings and note that a significant number of new residents are flocking from California to enjoy Nevada’s many benefits.
Key Highlights from Lake Tahoe Real Estate Q1 Report
- Luxury home sales account for 33% of all sales in 2018
- Sales of luxury homes are up 40% over last year
- Total dollar volume is up 18% over 2017
- Homes are selling 7% faster than in past years
To keep you posted on all the recent real estate trends, we’ve included this link to the Tahoe Sierra Board of REALTORS.
If you have any interest in knowing more about the market, especially if you are looking into investing in a property that needs a significant remodel (which are often the best values) feel free to reach out to our architecture firm in Incline Village, NV.
We have been advising clients about the numerous Washoe County building regulations, TRPA permits, and the mandatory “Best Management Practices” (BMP’s) that are all an integral part of designing and remodeling homes in the Lake Tahoe Basin.
Got questions? Contact me anytime.
James P. Borelli
Truckee / Lake Tahoe