Low Inventory Driving Tahoe Home Prices

What is the number one reason home prices are soaring in Lake Tahoe you ask? One simple answer, it comes down to the low inventory in the Tahoe Basin. Not only is there a high demand, but the inventory crisis is driving home prices bonkers. With a select few under a million, Lake Tahoe homes are setting a new standard for the area. What is driving the Lake Tahoe market you may ask? Well, it may have to do with the virus and people wanting to get out of the city. Or it might just come down to vacation rentals being shut down in certain areas not allowing visitors. It most definitely comes down to a combination of demand in the area and a shortage of homes. That is for sure! What should you do if you’re looking for a home in this competitive market? Easy, find the top realtors for the specific area and pester them. They will have the deals before they make the internet, and you will want to know! If you’re nosy enough they will eventually get you a deal. In times with low inventory knowing about a listing before it hits the MLS might just get you first in line!

If we flip the script and look at sellers, now is the time to sell! There is no doubt that this market caters to the sellers. With home prices soaring and little to no inventory the seller is in the driver seat. Where might you move you may ask? You have a few options, either you upgrade into a bigger more expensive house with the equity from your home or you move out of the area where there might be more inventory. Either way you look at it, you probably don’t want to miss out on this Lake Tahoe market!