Truckee Market Report May 2023
Truckee is a popular vacation home market for outdoor enthusiasts, particularly those interested in skiing, snowboarding, and other winter sports. It is located near several major ski resorts, including Northstar California and Palisades Tahoe. Additionally, Truckee offers a range of recreational activities throughout the year, including hiking, mountain biking, fishing, and golfing.
When it comes to real estate in Truckee, the market can vary depending on factors such as location, property type, and current market conditions. Truckee's real estate market has experienced growth in recent years due to its desirability as a vacation destination and proximity to Lake Tahoe.
Home prices in Truckee can vary significantly depending on the neighborhood and property type. The proximity to amenities, views, and overall condition of the property are also factors that can influence prices.
Truckee Real Estate Market Report May 2023
Currently, there are 327 homes for sale in Truckee. This includes 22 new listings that have come onto the market just in the last week. Truckee is still presenting as a seller’s market however, since there were more people looking to buy than available homes for sale.
The median list price of homes in Truckee, CA was $1,597,500 in May 2023 , compared to $1,289,000 in May of 2022. It is interesting to note that of the 327 available homes for sale, 27 had price reductions. This can be a factor of increasing inventory levels, and sellers needing to adjust their prices to match the competition.
In May of 2022, homes generally sold after only 31 days on market. In May of 2023, this dropped to only 19 days. This is another factor of higher demand over inventory and why Truckee is still considered a seller’s market. Even with more homes being listed for sale, the demand remains strong.
On the other hand, the number of sales for homes in Truckee during May 2023 was significantly less than May of 2022. Last year, 227 home sold, with only 98 homes selling in May of 2023. This is a factor of the limited inventory and not necessarily a slowing market.
This is an excellent time to list your property for sale as inventory is still relatively low. We expect to see more homes coming onto the market as we get deeper into summer.
Contact us today for a free market analysis of your property.