The real estate market continued to soar throughout the end of 2020 within Lake Tahoe’s Nevada and California markets as well as the Reno/Sparks region in Nevada. Unlike any other year on record, Chase International experienced record home sales and record home prices, according to its Year-End Report.
“This has been an unprecedented time in the real estate business,” said Susan Lowe, corporate broker for Chase International. “There’s no question that real estate investors and homebuyers from around the world are fleeing the city life to live a healthier and more peaceful lifestyle in one of the most beautiful locations on Earth.”
The figures are part of a final report released by Lake-Tahoe-based real estate agency, Chase International, that has just confirmed what has been an extraordinary year for real estate in the Lake Tahoe and Reno region. The data compares all MLS homes sales from January 2020 through December 2020 to the same timeframe in 2019.
Referring to its Nevada home sales, Lowe noted the 158% increase in volume on Lake Tahoe’s East Shore with total home volume hitting an all-time high at $468,492,629. On Lake Tahoe’s North Shore, Incline Village recorded a 120% increase in total single home volume with the average listing price increasing 32%.
In Truckee, CA, single-family home inventory for sale over the one million mark increased an extraordinary 99%. Tahoe Donner’s family-friendly environment enticed new buyers to move to the region with single homes for sale experiencing a 48% increase in volume and homes over one million dollars experiencing a 118% increase in home sales.
Homes listed and sold over a million dollars in South Lake Tahoe, CA, increased 133% with overall single home volume seeing a 66% increase. Luxury homes on Lake Tahoe’s West and North Shore volume recorded an impressive rise of 63%.
On the eastern side of the High Sierra, the Reno, Sparks, and Carson Valley properties in Nevada charted significant numbers as well.