The most commonly asked question of a Realtor is, “How’s the market?”.  Our ’scripted’ response is usually something along the lines of “unbelievable” or “you wouldn’t believe it if I told you” or “it’s a market of opportunities”. In general, I try to be a bit more creative and support my positively enthusiastic response with some actual data. I love being asked this question because we all love talking about what we love and what we do.  Problem is, it doesn’t seem socially appropriate to endlessly converse about the market at, for example, every Christmas party that I attend.

So, forget everything you’ve heard at those parties; here’s the real answer to the question, “How was the real estate market in 2009?” Armed with this information, you will impress even your most well-read friends!

Bottom line: Real Estate Sales rose exponentially in the Reno/Tahoe areas in 2009.

LAKE TAHOE, Nev. (Jan. 4, 2010) – For anyone who has been waiting for the market to hit rock bottom to get into their dream home in the Lake Tahoe or Reno areas, time is definitely running out. (more…)

Our broker recently put out these third quarter sales stats for the Lake Tahoe areas.

The first chart breaks sold properties down by price band and area (Incline Village, East Shore, Truckee, Tahoe City, South Lake Tahoe, Sparks, Reno & Carson Valley). These are for single family homes sold during January 1 – September 30, 2009.

The second chart compares some of the real estate market numbers in 2008 vs. 2009. The first graph shows sales volume for each year and a 13% decrease from 2008 to 2009 for home sales. The second graph shows the median & average price for single family homes and condos in 20o8 and 2009. The third graph shows units sold in each year and we see an increase in the number of homes sold under $1 million.

Click on the images below for enlarged versions of these graphs…