Happy Holidays from the Overall & Hamilton Group!
The holiday season is here, and while it’s certainly a busy time, it’s also a magical
one—a chance to slow down (even just a little), gather with family and friends, and
celebrate what matters most.
Here in Tahoe, Mother Nature has delivered the perfect gift with the recent storms
transforming our region into a true winter wonderland. The mountains are blanketed in
snow, the skiing is fantastic, and the beauty of Tahoe this time of year is second to
none.
As we wrap up 2024, we want to take a moment to thank you for being part of our
journey and to wish you a holiday season filled with joy, laughter, and unforgettable
moments. Here’s to a happy and healthy New Year—may 2025 bring you new
adventures, successes, and plenty of time to enjoy the magic of Tahoe!
Please enjoy our last newsletter of 2024 below.
This past Saturday, we celebrated the recipients of the 2nd Annual Juniper Awards,
hosted by the Jeff Hamilton Legacy Fund. It was a truly heartfelt evening, honoring
local heroes who embody the spirit of giving and community service. The event is a special way to remember and honor my dear friend and business partner, Jeff Hamilton, whose legacy continues to make a difference in our community. To learn more about the fund and its impact, please visit JeffHamiltonLegacyFund.com.
1. Seasonally Adjusted Recovery - The Tahoe Truckee market showed cautious
improvement in November 2024, signaling recovery after two and a half sluggish
years, with clear signs of progress in buyer engagement.
2. Strength in Luxury Market - The market’s strength is most evident in sales
above $2M, with this segment matching 2023 year-to-date totals and
now representing a larger share of overall sales—rising by 2%.
3. Martis Camp & Lakefront Dominance - Martis Camp and Tahoe lakefront
properties continue to lead the luxury market, including 12 sales between $11m
and $62m, reinforcing their roles as premier real estate categories. Highlighting
renewed luxury demand, I closed back-to-back sales for $12M and $9M in
November.
4. Luxury Market Milestone - Four of the eight largest transactions of 2024 were
finalized in November, indicating a resurgence in the upper-tier market.
5. Growing Trend of Off-Market Listings – An increasing number of sellers are
choosing not to publicly market their homes. This trend is driven by three main
factors: (1) some sellers are only interested in selling if they achieve their ideal
price, (2) others prefer to maintain privacy, and (3) concerns over security. For
buyers, this makes working with a well-connected local realtor more important
than ever to gain access to these exclusive, off-market opportunities.
6. Early Ski Season Spurs Spontaneity - A strong start to winter is encouraging
families to make spontaneous visits to their second homes ahead of structured
holiday plans. This activity often invigorates immediate demand and lays the
groundwork for increased transactions heading into early 2025. Emotions sell
homes!
7. Inventory Declines as Sellers Hold - As December approaches, many sellers
are choosing to delist properties, a seasonal trend that often sees homeowners
shift to ski leases or enjoy their homes for one last winter before re-listing in the
spring.
8. Stable Sales Volume - November sales volume remained consistent with 2023,
showing market resilience despite below-average overall sales velocity.
9. Home Prices See Positive Growth - Average home prices rose by 7% year-
over-year. Median home prices posted a more modest increase, just under 3%.
10. Optimistic 2025 Outlook - Supportive economic conditions, improved
mortgage rates, and buyer confidence paint an increasingly optimistic outlook for
the Tahoe-Truckee real estate market as we head into 2025.
As we approach the new year, it’s natural to look ahead to what 2025 may hold for the
housing market. While no one has a crystal ball, I have studied several sources for the
national real estate market and economists are pointing to some key trends that will
shape residential real estate in the coming year:
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Interest Rates Will Decline - Mortgage rates are expected to gradually fall below 6.5% in 2025, though the decline will likely be uneven due to temporary factors like election jitters and market volatility.
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Existing Home Sales Will Pick Up - Existing home sales have likely bottomed out and are predicted to increase by up to 10% year over year as buyers and sellers adjust to the "new normal" for interest rates.
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Home Prices Will Stabilize – Nationally, home prices are expected to rise modestly by 2%-4% nationwide. Tahoe and Truckee will most likely see prices inch up starting in the second half of 2025, as buyers get off the fence.
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The Big Picture: After five unpredictable years, the housing market appears to be settling into a "new normal" with fewer extremes. For buyers and sellers, this means a more stable and predictable market in 2025.
As we close out this remarkable year, we want to thank you for your trust, support, and engagement with our team. Whether you’re buying, selling, or simply enjoying all that Tahoe and Truckee have to offer, we are here to help you every step of the way.
Wishing you and your loved ones a joyful holiday season and a bright, prosperous start to 2025. We look forward to reconnecting with you in the new year to help you achieve your real estate goals!
Warm regards,
The Overall & Hamilton Group