As I give this real estate market update, I would first like to introduce myself. My name is Blaine Smith and some of you may have seen me in the Grizzly Ranch sales office. CENTURY 21 Tahoe North Realtors has been located at Grizzly Ranch for a little under a year and a half and is excited to be around for the future. As we look at the real estate market, we can all agree on the fact that the market was extremely active within the last year. Real estate in the “Lost Sierra’s” has seen significant market movement throughout 2022 as prices continued to creep up in the first couple months of the year. Within the last couple of months, we have seen a change in the real estate market with increased rates and uncertainty. This has a direct impact on buyers as they are on “hold” to see how this will affect prices. In return this has caused an increase in inventory and a slight decrease in prices. Regarding the Grizzly Ranch market, we have seen a steady number of potential buyers throughout the summer months. Per the Plumas MLS: so far in 2022 eleven lots and one house has sold at Grizzly Ranch. The lots that sold ranged in prices up to $40,000. The current asking price for lots range from $19,000 up to $77,500 with most sales under $25,000. There are four homes at this time listed at Grizzly Ranch ranging from $949,000-$4,300,000 with one of these homes currently under contract. There are still many people just discovering Plumas County with a push from the Truckee/Tahoe home prices. It is a matter of time before more buyers make their way to beautiful Plumas County. Overall, the market is actively shifting and only time will tell how this year will conclude for real estate.
D. Blaine Smith
CENTURY 21 Tahoe North Realtors