Lake Tahoe Style • Things to Do Lake Tahoe • June 20, 2023

Discover Truckee Thursday: Embracing the Outdoor Mountain Lifestyle in Lake Tahoe

by Ethan Pontz

An Invitation to the Truckee Community Lifestyle

Situated in the heart of the Sierra Nevada, Truckee, California, is a gem that offers a captivating blend of scenic beauty and community spirit. Among the highlights of this inviting mountain town is the vibrant Truckee Thursday summer event, a celebration of the quintessential mountain lifestyle cherished by residents and a notable summer event in Truckee.

Experiencing Truckee Thursday: Immersing in the Outdoors and Community Spirit

Each summer Thursday, Historic Downtown Truckee becomes a lively street fair, serving as a beacon for locals and visitors alike. This gathering illuminates everything that makes Truckee and the wider Lake Tahoe area such a special place. The vibrant community spirit and the appreciation for outdoor activities in Sierra Nevada are palpable.

Savoring Local Flavors: A Taste of the Mountain Lifestyle in Lake Tahoe

Truckee Thursday isn’t just an event; it’s a showcase of the unique lifestyle that Truckee residents cherish. With live music filling the air, local flavors tantalizing the taste buds, and stunning Sierra views serving as a backdrop, this weekly event brings the Truckee community together, highlighting the benefits of living in Truckee.

Supporting Local: Sustainability and Truckee’s Local Businesses

Life in Truckee and the Lake Tahoe area is marked by a commitment to sustainability and support for local businesses. Truckee Thursday encapsulates this principle, offering a range of locally crafted goods and services. This weekly event not only promotes environmental sustainability but also bolsters the local economy, creating a unique and sustainable living in Truckee.

Adventure Awaits: Your Playground in Truckee, Lake Tahoe

Beyond the festivities, Truckee Thursday also offers a glimpse into the adventurous side of life in Truckee and Lake Tahoe. From information stalls of adventure sports companies to spontaneous demonstrations of outdoor recreation, living in Truckee places you minutes away from some of the most thrilling outdoor experiences in the country.

Join the Community: Celebrating the Outdoors in Truckee

At the heart of Truckee Thursday, and indeed of Truckee itself, lies the love for the outdoors. It’s more than just a location; it’s a way of life. This event showcases the community’s dedication to embracing the outdoors, making it an integral part of the life in Sierra Nevada.

Effortless Commute: Free Truckee Shuttle to Truckee Thursdays

Considering how to reach Truckee Thursdays? Tahoe Truckee Transit’s FREE event shuttle service has got you covered. Running from 4:30 PM to 10 PM between June 22 and August 10, it serves various locations, including Donner Lake, Sierra Meadows, Brockway, Northstar, Prosser, Tahoe Donner, and Glenshire. Plus, the Truckee Thursdays shuttle connects with the TART regional evening routes at Northstar weekly. Make your Truckee Thursday commute hassle-free and see you there!

Embark on Your Journey: Investing in Truckee Real Estate

Truckee Thursday paints a vivid picture of what life can look like when you embrace the mountain lifestyle that Truckee and Lake Tahoe residents cherish. Are you ready to answer the call of the mountains? Perhaps you’re intrigued by the real estate opportunities in Lake Tahoe? As a local real estate professional with Truckee Tahoe Mountain Homes, I’m here to help you navigate through the process of buying a home in Truckee.

Whether you need information about local events, the outdoor lifestyle, or you’re on the hunt for that perfect home, I’m here to assist. Embracing the Truckee and Lake Tahoe lifestyle is a decision you’ll never regret, and I’d be honored to guide you through every step of this exciting journey. Your mountain adventure is waiting. Let’s explore it together!

Things to Do Lake Tahoe • June 6, 2023

3rd Annual Truckee Reggae Fest

by Ethan Pontz

Truckee Reggae Fest

The Truckee River Regional Park Amphitheater will host the 3^rd annual Truckee Reggae Fest on June 24^th from 2-10pm. Bob Marley’s son, Julian Marley and the Uprising are headlining the event. He received a Grammy nomination for Best Reggae Album on his third album, Awake and is a world-famous Reggae artist.

Like his father, Julian is actively involved in humanitarian and environmental causes. He supports organizations focused on social and environmental issues in Jamaica and beyond, carrying on his father’s legacy of using music as a platform for positive change.

The concert will take place on the summer solstice and is promoted as Reggae: True to the Roots. It will feature Internationally known Reggae Music, DJs, Arts and Craft Vending, Food Trucks and a Beer Garden hosted by a local non-profit. This is an all-ages event and children 6 and under are free.

Line Up

Saturday, June 24, 2023
2pm-10pm

Julian Marley & the Uprising

Mykal Rose (from Black Uhuru)

Mighty Mystic

Lizano

El Dub

Dubfyah, DJ Treez, MC Cootdog
Stay Positive Sound, Lake Anthony

Location and Tickets

The Truckee River Regional Park features live music in the park every Wednesday from 6:30 to 8:30. The amphitheater is set near the Truckee River, just across the Legacy Trail. This outdoor entertainment venue provides comfortable lawn seating, and overlooks a generous stage for all sorts of performances.

General admission is $55, with VIP front pit tickets selling for $99. For the true onstage experience, tickets are $199 and can be purchased online or at:

New Moon Natural Foods
11357 Donner Pass Rd Unit C,
Truckee, CA 96161
(530) 587-7426

New Moon Natural Foods
505 W Lake Blvd
Tahoe City, CA 96145
(530) 583-7426

“We look forward to seeing you beautiful people again on Saturday, June 24, as we celebrate outdoors and under the stars in beautiful Truckee,” their press release said.

Music in the Park kicks off in Truckee on June 21st. Click here for more information about the free Wednesday night concert series.

Market Reports • May 31, 2023

Activity January through April 2023

by Ethan Pontz

2023 Real Estate Market Report
North Lake Tahoe -Truckee

Residential Properties – Single-Family Homes and Condominiums
Activity Q1 January- April 2023

Residential Sales Summary 2023

Total Residential Sales:

Despite a particularly challenging winter season and some economic headwinds, the Tahoe region’s real estate market displayed its resilience. In April, 36 Residences sold, marking a deviation from historical norms but also highlighting an intriguing trend in the market. This represents 43% of the 5 year average for the month and 41% of the 10 year average, signifying a notable opportunity for keen investors.

We have observed a slight decline in residential transactions over the past seven months, however, this could signal an upcoming boom as we transition into the busier summer months. So far, we’ve seen 191 residences sold this year. Remember, winter is traditionally our slowest period. As we approach summer, we are optimistic that activity will pick up and align closer with traditional sales figures.

Median and Average Sales Prices:

The dynamic nature of the real estate market is evidenced by the fluctuation in median and average sales prices. In April, the median sales price was at $865,000, and the average was at $1,184,763. For the year to date, the median is at $1,020,000 and the average at $1,538,178.

The median single-family sales price stands at $1,133,750. This marks a decrease compared to the same period in 2022, but let’s not forget it’s still 56% higher than the pre-pandemic period in 2019.

As for condominiums, the year-to-date median is $735,000, down 4.5% compared to the same period in 2022, but a notable increase of 68% compared to 2019.

Active Residential Inventory:

Active Listings:

With the arrival of spring-like weather, we are expecting a surge of residences to enter the market. The incredible snow pack still on the ground may cause a slight delay, but rest assured, more options are on the horizon. Currently, there are 200 residences on the market (up from 165 a month ago). Compared to the pre-COVID era, we are still operating on a relatively low inventory, indicating a unique market landscape ripe with opportunities.

The trend of new listings has remained consistently low for 24 months. However, we expect this to change as the weather improves and more residences become available.

Current Pending Sales: The number of pending sales is at 81, up from around 60 at the beginning of the year. About 50 residences went into contract in April, indicating an upward trend in activity.

The current inventory represents approximately 4 months of supply relative to April’s activity. This may give an impression of a seller’s market, but the current market situation offers opportunities for both buyers and sellers.

Sales Based on Price Range:

Under $500,000: From January through April, we recorded 19 sales under $500k, contributing to 10% of all residential sales, slightly higher than the 7% in the same period in 2022.

$500,000 to $999,999: 75 residences were sold in this price range, accounting for 39% of total sales, a small uptick from 34% in 2022.

$1,000,000 to $1,999,999: 63 residences were sold in this range, making up 33% of total sales. This figure is nearly on par with 2022’s figure of 35%.

Over $2 Million: 34 residences sold over $2 million, representing 18% of sales, including 10 sales over $5 million. This is a slight decrease from 2022 when 23% of residential sales were over $2 million.

What’s Going On Looking Forward?

Future Outlook

Considering the current trends and factors influencing the market, the future outlook for Lake Tahoe and Truckee’s housing markets is optimistic. Several key elements contribute to this positive forecast:

Increasing Demand: The ongoing trend of remote work has made locations like Lake Tahoe and Truckee more attractive to potential homeowners. These areas offer an exceptional quality of life with the convenience of connectivity, enabling residents to enjoy the tranquility and outdoor activities while staying connected to their professional life.
Tourism and Vacation Homes: Lake Tahoe and Truckee remain popular vacation destinations, driving demand for second homes. The increasing popularity of rental platforms such as Airbnb also offers potential income-generation opportunities for homeowners in Placer County.
Limited Supply: Both Lake Tahoe and Truckee have a finite amount of land available for development. This limited supply, coupled with strong demand, is expected to keep home values and prices high in the future.
Infrastructure Development: Ongoing and planned improvements in local infrastructure are likely to boost the appeal of these areas. The creation of better connectivity, amenities, and services can increase property values over time.
Eco-Friendly Development: As sustainable living continues to be a significant trend, the natural beauty and eco-friendly initiatives in Lake Tahoe and Truckee enhance their appeal. Future development is likely to focus on sustainable construction, which will further boost these areas’ reputation as eco-friendly destinations.

In conclusion, the housing markets in Lake Tahoe and Truckee, California, show strong growth trends and future potential, making them attractive options for homeowners and investors alike. Their unique blend of natural beauty, quality of life, and investment potential sets them apart as standout markets in California’s real estate landscape.

Contact me today to explore the exciting opportunities available in the North Lake Tahoe-Truckee market!

Things to Do Lake Tahoe • May 31, 2023

Truckee’s Best Mountain Bike Trails

by Ethan Pontz

Donner Rim Trail

Truckee, California, is a fantastic destination for mountain biking, with a variety of trails that cater to different skill levels and preferences. Here are some of the best mountain bike rides in and around Truckee:

Emigrant Trail:

This trail is an excellent choice for riders of all levels. It follows an old wagon route and offers beautiful views of the surrounding mountains and forests. Its easy, rolling, single-track makes it popular with novice and intermediate riders.

It begins following the north side of Prosser Creek, and climbs in slight elevation up to Stampede Reservoir.

Hole in the Ground:

Known for its challenging terrain and technical sections, Hole in the Ground is a popular trail for experienced riders. It features rocky descents, tight switchbacks, and stunning alpine scenery.

This loop trail offers challenges, without being too difficult for intermediate riders.

Hole in the Wall. Castle Peak in the background.

Sawtooth Trail:

This singletrack trail provides an enjoyable and scenic ride through the Truckee area. It offers a mix of flowing sections and short climbs, with beautiful vistas of Donner Lake and the surrounding peaks.

The trail climbs and descends a repetitive 200 feet. It loops through high desert and Jefferey Pine. Sawtooth Trail also offers stunning views of the Truckee River canyons. It is considered an intermediate trail.

Donner Lake Rim Trail:

Offering panoramic views of Donner Lake and the Sierra Nevada Mountains, this trail is a must-ride for any mountain biking enthusiast.

The Donner Lake Rim Trail spans approximately 23 miles and can be done as a point-to-point or out-and-back ride.

Donner Rim Trail and Lake

Tahoe Donner XC:

Tahoe Donner offers a network of cross-country trails suitable for riders of all levels. With over 100 kilometers of trails, you can explore a variety of terrain, from gentle beginner-friendly routes to more challenging options.

Many trails may still be covered in snow, so always check trail conditions. It is important to respect any closures or regulations, and ensure you have the appropriate gear and skills for the trails you plan to ride.

Donkey Town aka Jackass

Jackass, also known as Donkey Town, is an exhilarating mountain biking trail just off Hwy 89 after passing the traffic light on West River Street en route to Lake Tahoe. This trail offers a little bit of everything, from berms and jumps to rocky technical sections and fast straightaways, providing a great mix of uphill and fantastic downhill runs. The El Burro Trail loop is located below.

Due to its increasing popularity over the last two years, it’s best to tackle this trail when the crowds have left Lake Tahoe. Embark on a truly unforgettable biking adventure with Jackass, as you bask in the awe-inspiring beauty of Tahoe National Forest that surrounds you as send it down this fun downhill adventure.

Donkey Town aka Jackass

For more information about available homes for sale in Truckee and these trails, contact me today!

Market Reports • May 17, 2023

Activity January through March 2023

by Ethan Pontz

Coldwell Banker

2023 Real Estate Market Report

North Lake Tahoe -Truckee

Residential Properties – Single Family Homes and Condominiums

Activity Q1 January- March 2023

Residential Sales Summary 2023

Total Residential Sales:

Intense winter weather and ongoing economic headwinds have continued to limit the number of real estate transactions in the Tahoe region. In March, 52 Residences sold, which is the lowest number of March sales in the last 10 years and 60% of the 5 year average for the month and 58% of the 10 year average.

March marked the sixth consecutive month that we hit a 10 year low for the number of residential transactions for the month. At this point, the lack of activity is clearly a trend and not an anomaly.

For Q1, 152 residential transactions have closed. This, again, marks the lowest Q1 total in the last 10 years and 62% of both the 5 and 10 year average. It should be said, winter is always our slowest time of year, so don’t panic about these numbers. A couple busy spring and summer months can easily put things closer to normal. The question is, how busy will spring and summer be this year?

Median and Average Sales Prices:

With the small number of transactions, median and average sales prices tend to bounce around rapidly as they get skewed by what would normally be minor anomalies.

The median sales price for March came in at $1,297,500 and the average was at $1,975,429. Year to date, the median sits at $1,015,000 and the average at $1,452,186.

For Q1, the median single family sales price came in at $1,144,500. That represents a decrease of 16.8% compared to Q1 2022, but is still 60.1% higher than Q1 2019 (pre-pandemic). The average single family sales price for Q1 was $1,890,271, which is down 20% compared to Q1, but still 31.6% higher than 2019.

For condos, the Q1 median sales price was $767,500. That’s down 1% compared to Q1 2022, but up 75.6% compared to Q1 2019. The Q1 average came in at $1,132,958, which is up 28.1% compared to Q1 2022 and up 98.1% compared to Q1 2019.

Active Residential Inventory:

Active Listings:

We have finally started to see spring like weather the last couple weeks, which usually triggers an influx of residences coming on the market. This year, that influx will be delayed by the incredible snow pack that still sits on the ground. There are 165 residences currently on the market (up from 155 a month ago). Last year, at this time, there were about 110 residences actively for sale, but in 2019 the number was closer to 350. Looking at long term numbers, inventory is still at the lowest levels we have seen historically prior to COVID (Around 60% of the average for the 5 years prior to COVID and 40% of the 10 year average) for this time of year.

For 23 consecutive months the number of new listings for that month has been below the 5 and 10 year averages. In each of those 23 months the number of new listings has been among the 3 lowest totals for that month in the last 10 years.

Current Pending Sales: The number of pending sales is at 55 (holding steady around 60 for the last 4 months). About 52 residences went into contract in March (up from 40 in February).

Current inventory represents about 3.2 months of supply relative to March activity. Historically any number below 5 months of supply is considered a seller’s market. But, this is a much more balanced market, even tipping toward buyer’s market, than that statistic might lead you to believe.

Sales Under $500,000: Through Q1 there were 14 sales under $500k, representing 9% of all residential sales. For the same period in 2022, 7% of sales were under $500k.

Mid-Range Market Sales $500,000 to $999,999: 56 residences have sold between $500,000 and $999,999, representing 37% of total sales. In 2022, 35% of sales were in this price range.

High End Home Sales $1,000,000 to $1,999,999: 53 residences sold between $1m – $2m, representing 35% of total sales. In 2022, 35% of residential sales were in this range.

Luxury Home Sales Over $2 Million: 29 residences sold over $2 million, representing 19% of sales. This includes 10 sales over $5 million. In 2022, 23% of residential sales were over $2 million including 17 sales over $5 million.

What’s Going On Looking Forward?

Per the Sierra Snow Lab on Donner Summit, this is the 2^nd snowiest winter since they started keeping records in 1946. The intense winter has definitely impacted what was already a slowing real estate market. In the past, big winters have resulted in increased supply in the spring and summer (seller’s saying, “I don’t want to deal with that again”) while also increasing demand (buyer’s saying, “what an incredible ski season, let’s buy a house!”).

Which force will be stronger in spring and summer of 2023?

Low inventory will continue to be the story at least until the snow melts (May? June?? July???). It will be interesting to see if the intense winter and economic headwinds will be enough to push supply closer to “pre-covid” norms after we thaw out.

There is a little bit of momentum building on the demand side . . . a few more showings, more people visiting open houses, a significant number of multiple offer situations in the last month, a few properties selling that had been on the market for an extended time. We’ll have to wait and see if that momentum is sustainable in the current economic environment or just a blip on the radar.

Sellers, keep in mind, this is still a much better time to be a seller than it was in 2019 (which seemed like a very healthy market at the time!). You can expect a similar amount of time on market, but much higher sales prices!

Buyers, keep in mind, this is the most balanced market we have seen in the last 3 years. You now have the following things working in your favor:

The ability to negotiate price is back!
The ability to inspect a property and have normal contingencies is back!
The ability to negotiate repairs is back!
Yes, interest rates are climbing, but if they continue to climb you will be glad you locked in now. If/when they do reverse course, you can refinance to take advantage!

Contact Me Today to Find Out More about the Opportunities Available in the North Lake Tahoe-Truckee Market.

[pdf-embedder url=”https://www.truckeetahoemountainhomes.com/wp-content/uploads/2023/05/Q1-TOTAL-SALES-Tahoe-Truckee-Market-Report-2023-vs-2022-vs-2019.pdf” title=”Q1 TOTAL SALES Tahoe Truckee Market Report 2023 vs 2022 vs 2019″]

Real Estate News • May 10, 2023

Town of Truckee Free ADU Webinar

by Ethan Pontz

ADU examples

Thursday, May 11, 2023
12 – 1 pm

The Town of Truckee is hosting a free Accessory Dwelling Unit webinar on May 11^th2023.

In an effort to address California’s housing shortage, the state has been aggressively ensuring that all local governments and HOAs allow for the construction of ADUs. The Town of Truckee too, is offering many incentives and helping homeowners understand the benefits of constructing an ADU.

ADUs have many names: granny flats, in-law units, backyard cottages, secondary units and guest units. They allow for an affordable type of home construction in California because they do not require paying for land, major new infrastructure, structured parking, or elevators.

As an additional source of income for homeowners, adding an ADU can also give homeowners the flexibility to share independent living areas with family members and guests. This is a great opportunity for resort homes located in like Lake Tahoe and Truckee.

Sierra County had rolled out pre-approved plans when launching their ADU program and now, Truckee is offering something similar. Ready to build plans can save homeowners thousands of dollars in design and permitting costs when constructing an accessory dwelling unit.

In their May 11^th meeting, the Town of Truckee will be rolling out their ADU program guidelines. They will discuss funding incentives, the ADU Permit Process and a chance to see the new, pre-approved ADU Plans. They will also present information about the Town ADU Codes and Standards for both new and existing units.

This webinar is for those who are interested in building a new ADU, converting existing space into an ADU, or wanting to understand the permitting process for an unpermitted ADU.

What you will learn from this webinar

Introduction to the Town of Truckee ADU Program including funding incentives
Overview of Town ADU Codes and Standards for both new and existing units
Overview of Town ADU Permit Process
Introduction to the new, pre-approved ADU plan sets

How to Register

It is important to register in advance to attend. Click here to register. You will be sent log in information for this webinar via email.

Contact me today for more information about available homes for sale in the Lake Tahoe and Truckee area that would be great for an ADU. I can also provide a free marketing analysis for your current home.

Real Estate News • April 17, 2023

New Mortgage Opportunities

by Ethan Pontz

house and pile of coins

According to Freddie Mac, the week ending April 6th showed that interest rates for a 30-year fixed-rate home loan averaged 6.28%. This is still much higher than the 4.72% rate of last year, but has come down from the 7% rates that began 2023.

“Compared to the recent 7% average rate peak, the latest rate saves $140 per month for a homebuyer on a $300,000 loan,” said National Association of Realtors Chief Economist Lawrence Yun. He is optimistic that rates will continue a downward trend.

News is mixed on whether rates are rising or falling because lenders are becoming more competitive. The falling demand for new loans has driven lenders to adjust their normal margins. Normally, they offer interest rates at 3% over the FED rate, but some are reducing their margin to get loans.

In terms of predicting interest rates for 2023, Fannie Mae sees the average rate of a 30-year fixed holding at 6.8% in 2023. Freddie Mac is more optimistic with a projection of 6.4%. Currently, rates are anywhere between 6.4% and 6.9%.

The Mortgage Bankers Association believes the 30-year rate will fall to 5.2% next year. However, they are alone in this assumption as the FED has no plans to reduce their rate any time soon.

Rise of the 40 Year Mortgage

The news over the last few weeks is that a 40-year mortgage had been approved by the FHA (Federal Housing Administration.) In the past, these loans were only approved for loan modification to help with default loans. You may read that it is a way to help first-time home buyers afford the monthly payment.

These loans are more difficult to find and have restrictions like higher credit scores, but can reduce monthly mortgage payments, which have risen 30% in the past year. While a 40-year mortgage can lower monthly payments compared to a 30-year mortgage, buyers will pay more interest over time.

For example, when comparing a 30 and 40-year mortgages on a $312,000 loan at 6.85% interest, the monthly payments were $2,044 for 30 years and $1,904 for 40 years.

You’d save $200 per month on your mortgage payments by going with a 40-year loan. However, you would end up spending about $100,400 more in interest over the life of the loan. You’d need to check with your lender to verify if this option is available for a purchase and not just loan modification.

Other Options to Reduce Monthly Payments

Another option to get the monthly payment lower is prepaying interest by buying points upfront.

Some sellers are offering to pay the fee for a 3-2-1 buydown mortgage rather than reduce the sales price. This is a type of loan that starts out with a low-interest rate and rises over the next several years until it reaches its permanent rate.

The interest rate is reduced 3% in the first year, 2% in the second year, and 1% in the third year. For example, a 7% mortgage would charge just 4% in year one, 5% in year two, and 6% in year three before going to 7%. Buyers would have the opportunity to refinance at any time since the cost reduction is paid up front.

The total buydown cost is the difference between the total payments at the original monthly payment and the total payments made at the rate-adjusted monthly payments. In most cases, this amount is lower than reducing the sales price by tens of thousands of dollars. This is why sellers are using this as a way to make their listings more attractive.

Banks Offering Mortgage Specials

Some banks like Bank of America offer special promotions to lower-income buyers. They currently offer programs that include a $10K grant toward the down payment, $7500 toward closing costs and loans with as little as 3% down. US Bank offers $1000 toward closing costs.

Local lender Angie Loukos with Academy Mortgage works with grants from the City, County, and State levels to obtain down payment assistance that is specific to the region that you purchase in. Some of these regional down payment assistance monies are as high as $50,000.00.

There’s also Down Payment Assistance Program (DPA) that allows 100% financing. With DPA amounts up to 5%, no first-time homebuyer requirement, no income restrictions, the option to add a 2/1 temporary buydown to the first mortgage, and both amortized and forgivable DPA options, these products may be the ultimate solution for delivering the dream of homeownership to your borrowers. For more information click on this link or call Angie directly at 925-984-4103

Even while banks and lenders are coming up with creative ways to make new loans more attractive, a lack of inventory is still keeping home prices steady. During Spring and Summer, we normally see inventory increase. If you are considering selling your home for top dollar, now may be the best time.

Contact me today for a free marketing analysis of your home or for a list of available properties.

Market Reports • April 5, 2023

Activity January through February 2023

by Ethan Pontz

Coldwell Banker

2023 Real Estate Market Report

North Lake Tahoe -Truckee

Residential Properties – Single-Family Homes and Condominiums

Activity January- February 2023

Residential Sales Summary 2023

Total Residential Sales:

Intense winter weather and ongoing economic headwinds have continued to limit the number of real estate transactions in the Tahoe region. In February, 49 Residences sold, which is the lowest number of February sales in the last 10 years and 76% of the 5 year average for the month and 75% of the 10 year average.

February marked the fifth consecutive month that we hit a 10 year low for the number of residential transactions for the month. At this point, the lack of activity is clearly a trend and not an anomaly.

Year to date, 100 residential transactions have closed. This, again, marks the lowest number in the last 10 years and 63% of the 5 year average and 65% of the 10 year average. It should be said, winter is always our slowest time of year, so don’t panic about these numbers. A couple busy spring and summer months can easily put thing back on track. The question is, how busy will spring and summer be this year?

Median and Average Sales Prices:

With the small number of transactions, median and average sales prices tend to bounce around rapidly as they get skewed by what would normally be minor anomalies.

The median sales price for February came in at $1,087,500 and the average was at $1,623,989. Year to date, the median sits at $1,015,000 and the average at $1,452,186.

For single family homes the median was $1,242,500 and the average $1,992,661. Year to date the median is $1,130,000 and the average $1,715,557.

For condos and townhomes the median was $613,500 and the average $728,642. Year to date the condo median is $735,000 and the average is $1,003,743.

We’ll take a closer look at comparisons to past years after we finish Q1.

Active Residential Inventory:

Active Listings:

We are in the heart of winter, when inventory hits annual lows. There are 155 residences currently on the market. Last year, at this time, there were about 80 residences actively for sale, but in 2019 the number was closer to 350. Looking at long term numbers, inventory is still at the lowest levels we have seen historically prior to COVID (Around 60% of the average for the 5 years prior to COVID and 40% of the 10 year average) for this time of year.

For 22 consecutive months the number of new listings for that month has been below the 5 and 10 year averages. In each of those 22 months the number of new listings has been among the 3 lowest totals for that month in the last 10 years.

Current Pending Sales: The number of pending sales is at 57 (holding steady around 60 for the last 3 months). About 40 residences went into contract in February (down from around 50 in December and January).

Current inventory represents about 3.9 months of supply relative to February activity. Historically any number below 5 months of supply is considered a seller’s market. But, this is a much more balanced market, even tipping toward buyer’s market, than that statistic might lead you to believe.

Sales Under $500,000: Through February there were 11 sales under $500k, representing 11% of all residential sales. For the same period in 2022, 9% of sales were under $500k.

Mid-Range Market Sales $500,000 to $999,999: 38 residences have sold between $500,000 and $999,999, representing 38% of total sales. In 2022, 39% of sales were in this price range.

High End Home Sales $1,000,000 to $1,999,999: 35 residences sold between $1m – $2m, representing 35% of total sales. In 2022, 32% of residential sales were in this range.

Luxury Home Sales Over $2 Million: 16 residences sold over $2 million, representing 16% of sales. This includes 5 sales over $5 million. In 2022, 22% of residential sales were over $2 million.

What’s Going On Looking Forward?

It’s official . . . per the Sierra Snow Lab on Donner Summit, this is the 2^nd snowiest winter since they started keeping records in 1946. The intense winter has definitely impacted what was already a slowing real estate market. In the past, big winters have resulted in increased supply in the spring and summer (seller’s saying, “I don’t want to deal with that again”) while also increasing demand (buyer’s saying, “what an incredible ski season, let’s buy a house!”).

Which force will be stronger in spring and summer of 2023?

Low inventory will continue to be the story at least until the snow melts (May? June??). It will be interesting to see if the intense winter and economic headwinds will be enough to push supply closer to “pre-covid” norms after we thaw out.

There is a little bit of momentum building on the demand side . . . a few more showings, more people visiting open houses, a handful of multiple offer situations in the last week, a few properties selling that had been on the market for an extended time. We’ll have to wait and see if that momentum is sustainable in the current economic environment or just a blip on the radar.

Buyers, keep in mind, this is the most balanced market we have seen in the last 3 years. You now have the following things working in your favor:

The ability to negotiate price is back!
The ability to inspect a property and have normal contingencies is back!
The ability to negotiate repairs is back!
Yes, interest rates are climbing, but if they continue to climb you will be glad you locked in now. If/when they do reverse course, you can refinance to take advantage!

Contact Me Today to Find Out More about the Opportunities Available in the North Lake Tahoe-Truckee Market.

Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Realty does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. CA-BRE License # 01908304

Home Buyers • Home Sellers • Real Estate News • April 5, 2023

Tahoe Donner Market Report

by Ethan Pontz

home for sale Tahoe Donner

We are moving into Spring at Lake Tahoe and are hoping for an April of excellent Spring skiing. The influx of listings that started the year are diminishing, with 32 sales in February and 30 sales just in the last two weeks.

If you are considering listing your property for sale, now is the time. We expect to see more listings come onto the market during the summer. Right now, homes are still selling at 96% of sale to list price. While buyer activity has slowed, so has listing inventory.

Tahoe Donner

One of the neighborhoods that has a nice amount of listing inventory is Tahoe Donner. Listings include a new construction on Skislope Way, listed at $3.1 million.

Tahoe Donner Home for sale

View Listing

There is also a great buy on Northwoods Boulevard. This single story chalet with vaulted open beam ceilings is priced to sell at $699K. The remodeled kitchen features green quartz countertops, alder cabinets and a butcher block island. Hurry on this one!

home for sale tahoe donner

View Listing

Tahoe Donner enjoys a large homeowner’s associations, with nearly 6,500 properties and 25,000 members. Homeowners have access to over 7,300 acres of hiking, biking and XC skiing in the Sierra Nevada mountains. It’s ease of access to Highway 80, makes it an excellent location for second homeowners.

Amenities include the Beach Club Marina, Bike Trails, Campground, Downhill and Cross Country Skiing, Equestrian Center, Golf Course, Driving Ranch, Fitness Center, and Tennis.

View All Tahoe Donner Listings

Tahoe Donner Family Downhill Ski Challenge

One of the great things about Tahoe Donner is its focus on family events. The Tahoe Donner Family Challenge is a matched-time competition raced by family teams. In this giant slalom race, the time that counts is the difference between the first and second runs.

The team component is a combined best difference from a child in a family with the best difference from an adult in the family. The winning team gets their name engraved on the trophy in the ski lodge! All children who complete their two runs will earn a medal in addition to other fun prizes. Bring the whole family to this free event!

March 26, 2023 11-3:30 Registration Free

Location: 11603 Snowpeak Way, Tahoe Donner Downhill Ski Resort

Click for more info.

Contact me today for a free property analysis on your home. I am excited to see the market moving, even while we have had an epic winter of storms. If this is any indication of what summer will look like – wow!

Home Sellers • March 14, 2023

Is Now a Good Time to Sell Your House?

by Ethan Pontz

Making the decision to sell your home might be confusing in the current real estate market. While rising interest rates have cooled market activity, there are still many buyers looking to purchase a home. There are also opportunities for sellers that you might want to consider.

During January, and into February, interest rates came down in the low 6’s, spurring an uptick in real estate closings. Currently, mortgage interest rates are closer to 7%.

Like buyers, some sellers are choosing to wait to see if interest rates will fall to the levels of 2021 and 2022. This is highly unlikely, as last year’s rates were based on the lower FED rate that was meant to spur the economy after COVID. Right now, the FED is doing just the opposite. They are increasing the rate to slow down inflation.

Sellers may currently have a good mortgage rate and are wary of moving into a higher rate. This type of scenario is exactly why listing inventory is so low. The mortgage rate increases the house payment because of higher borrowing costs.

However, this creates an opportunity. The lack of inventory is keeping home values higher and ensures listings get the maximum exposure to buyers. A drop in borrowing costs later, might lead to many listings hitting the market at once.

What this means is that you may actually get a higher purchase price for your property now, while inventory is low. As a buyer, a lower interest rate might reduce borrowing costs. However, if rates did come down and pent-up demand brought an influx of buyers back into the market, what you’d save in borrowing costs, you might pay in a higher purchase price.

There is an opportunity in every market.

listing graph from CAR

We expect more listings to hit the market in the summer. Spring is an excellent time to get ahead of the influx of listings. We also expect an epic year of skiing to drive up more demand.

Additionally, becoming a buyer in a slower market means that the volatility that dominated the market from 2021 to 2022 won’t be a factor for you. Purchases without inspections and multiple offers won’t impede your ability to take a more thoughtful approach to purchasing.

According to Redfin, prices in February saw an increase of 1.2 percent year-over-year. This means prices are still up if you are a seller, but not climbing unrealistically if you are a buyer.

Fannie Mae conducted a survey in January to gauge what sellers are thinking. The number of sellers who believed this to be a good time to sell rose from 51% to 59%. The percentage of homebuyers who felt home prices will rise in 2023 rose from 30% to 32%.

The lack of available housing in California means that there are still more buyers than sellers. Nobody is expecting home prices to drop like they did after the financial crisis of 2008. This market is different.

With inventory at an historical low, and demand increasing as buyers become more comfortable with higher interest rates, this may be the best time to list your property for sale.

If you’d like to get an idea of how your home compares in today’s market, contact me today for an no-obligation market analysis. I believe every market presents opportunities and would love to help you cash-out, move up, or explore moving to a home that better fits your needs.

Line Up

Location and Tickets

2023 Real Estate Market Report North Lake Tahoe -Truckee

Residential Properties – Single-Family Homes and Condominiums Activity Q1 January- April 2023

Residential Sales Summary 2023 Total Residential Sales:

Emigrant Trail:

Hole in the Ground:

Sawtooth Trail:

Donner Lake Rim Trail:

Tahoe Donner XC:

Donkey Town aka Jackass

Thursday, May 11, 2023 12 – 1 pm

Rise of the 40 Year Mortgage

Other Options to Reduce Monthly Payments

Banks Offering Mortgage Specials

Tahoe Donner

Tahoe Donner Family Downhill Ski Challenge

2023 Real Estate Market Report
North Lake Tahoe -Truckee

Residential Properties – Single-Family Homes and Condominiums
Activity Q1 January- April 2023

Residential Sales Summary 2023

Total Residential Sales:

Thursday, May 11, 2023
12 – 1 pm