It’s hard to believe it’s almost February. Where did January go?! I hope you’ve enjoyed a good start to 2020. We sure have in Tahoe! It has been busy with lots of visitors taking advantage of the clear roads and easy driving conditions to escape to the mountains for some relaxing and winter recreating. The high volume of real estate inquiries and property tours illustrate the strong enthusiasm for owning a piece of Tahoe paradise. However, we have been experiencing a more pensive approach from consumers. Buyers seem to be making more thoughtful and analytical decisions rather than jumping in quickly based on emotional impulses. This is a symptom of the time of year and the fact that it’s an election year. Right now, most buyers already have their accommodations lined up for their ski vacation. Therefore, there’s not a ton of urgency to make a quick buying decision. Furthermore, we have historically seen hesitation from buyers in election years, as elections tend to cause concerns about uncertainties related to the economy.
Regardless of the slow pace of new real estate transactions, there are still a lot of families looking for and dreaming of owning a vacation home in Tahoe. Buyers will regain momentum as they return for their third, fourth and fifth ski trip to Tahoe. They’ll fatigue on the idea of continuing to flush their money down the rental toilet and not having a place to call their own. Ski Skate Week is just around the corner and we have a lot of weekends left in the ski season leading up to Spring Break. The inventory is at a healthy level, interest rates are low and sellers are motivated. It’s a great time to buy in Tahoe!
There were 34 new property listings added to the Tahoe and Incline Village Multiple Listing Services in the last seven days.