Seller’s Market and the Impact on Lake Tahoe

Some say this might be the absolute best seller’s market we have ever seen. With limited inventory and a surplus of buyers, sellers are getting top dollar for real estate. When there is a limited inventory to select from, buyers have to compete in the market. With multiple offer situations a bidding war is usually created driving the home prices above and beyond the list price. This is one of the best situations a seller can be in. As a seller you can just sit back and watch the price of your home go up. The limited availability of homes is really giving an edge to sellers. With interest rates low, it doesn’t look like we will be seeing the buyers going anywhere. In Lake Tahoe, we can expect this inventory to go up around the spring and summer months, but for now it is extremely low. Because we are in a seller’s market home prices will continue to go up until we see more of a surplus of homes for sale on the market. Buyers are wanting out of the city and Lake Tahoe is that perfect place. We are seeing Lake Tahoe homes hit record high prices due to all the aspects listed above. Privacy and beauty allow for Lake Tahoe homes to be high on that buyers hit list. Although it is a seller’s market it is not necessarily a bad time to buy. A long-term investment in Lake Tahoe is always a good decision. The attraction to Lake Tahoe is always going to be around allowing for homeowners to rent out their property’s and turn there home into a possible cash flow situation. The seller’s market everyone is talking about in Lake Tahoe is a sight to see. How high will these prices go and what does it mean for the future? We will just have to wait and see!