Greetings from Tahoe and Truckee!
I hope you are enjoying the cool days, clear skies, and time with the people who brighten your days. With winter around the corner, it’s a great moment to reflect and plan. Whether you’re lining up a basecamp for ski season or you’re a current owner prepping for winter, we’re here to help.
As we slide into Tahoe–Truckee’s shoulder season and the holidays come into view, activity naturally tapers—but this window is often a great time to buy. Buyer traffic thins, motivated sellers want to wrap things up before the snow flies, and serious shoppers can secure a vacation home in time for ski season—goodbye nightly rentals, hello consistency for family and friends.
For owners, don’t forget winter prep: line up snow removal, set thermostats to a minimum of 55°F, and consider shutting off water if appropriate. We have a vetted resource list if you’d like recommendations to help.
It’s also a good time to take stock of the market now that Q3 is in the books. You can browse our full Micro Market Reports by clicking the image below; if you’d rather skip to the highlights, I’ve summarized the key takeaways—and what they mean—right below the image.
Third Quarter Review
Q3 reaffirmed a familiar theme: buyers are selective, and each submarket is moving at its own pace. On Tahoe’s California side, pricing pushed higher on the West Shore (+8% to $1.283M) and North Shore (+5% to $1.188M), with Truckee edging up as well ($1.300M, +2%). South Shore held its place as the more accessible entry point at $715K (+1%). Nevada told two very different stories—Incline Village/Crystal Bay softened to $2.141M (–14%) and became more negotiable (93% list-to-sale), while the East Shore posted a higher median at $1.598M (+10%) but required wider discounts (89% list-to-sale).
Importantly, demand didn’t disappear—it shifted. Closings increased across most areas: North Shore +32%, Incline +16%, South Shore +13%, Truckee +3%, and Reno/Sparks +9% / +16%. The very top of the market delivered headline sales—$41M on the East Shore, $37.5M in Incline, $27.5M on the West Shore, and $21.5M in Truckee. At the same time, the mid-luxury segment ($2–$5M) showed clear price discipline; buyers rewarded realistic asking prices and turnkey condition. Below $2M, liquidity stayed steady.
One thing the reports don’t fully capture is the day-to-day story on supply and pricing. Inventory remains healthy and we’re seeing steady price adjustments across the board. By our tracking, we’re sitting at roughly 3.5 months of supply at the current pace of sales. Typically, this time of year we see pending sales equal to 35–40% of active listings; right now it’s under 28%. That gap reflects a mix of factors—higher interest rates, ongoing questions around fire insurance, general uncertainty, and a perception that there’s “a ton of inventory.”
Add in the background noise from the headlines, and it’s no surprise the market has paused a bit. That said, we’ve seen this movie before. People don’t stop coming to Tahoe, and lifestyle demand has a way of reasserting itself. That resilience is why I remain encouraged as we head through the holidays and into 2026—with the right pricing and presentation, there’s still opportunity on both sides of the table.
My Swim for Sight
Last Sunday I swam from Alcatraz at sunrise to raise money for All May See—and I’m thrilled to share that, together, we hit our goal. Thanks to your encouragement and generosity, our team raised over $150,000 to support research and programs aimed at preventing blindness and restoring sight around the world.
A special thank-you to everyone who donated, shared the campaign, or cheered us on!
Watching the sun rise over the Bay Bridge was unforgettable—and a powerful reminder of what this cause is about: helping more people see the beauty we sometimes take for granted.
Your support funds real progress—better diagnostics, treatments, and access to care—toward a world for all to see. If you’d like to learn more or continue supporting the mission, visit allmaysee.org. And if you’re curious about joining me next year, reply—I’d love to have you on the team.
Thank you for your continued interest in real estate and trust in our team. As October turns Tahoe gold, it’s a great moment to align plans with the market. Whether you’re buying, selling, investing—or just curious how these numbers impact your property, our team is here to help. Don't forget that we are globally connected and can introduce you to a trusted advisor in any market. Please reach out anytime!