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Tahoe Update

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June 12, 2022

Tahoe Update

            Greetings Fellow Life Travelers:

We’re back to summer temps with prediction for cooling again this next week, rain Sunday.  So far, no sign of pollen, which is very unusual for this time of year.  I’ve been holding off the outdoor pillows but may brave it so we can enjoy the deck.  Our brief ‘shoulder season’ has definitely transformed into summer/vacation visitors in spite of the gas prices.  Truckee hit over $7 for premium, which I haven’t used through 4 Cadillacs (1st Seville, white with red leather interior, 13 years) and 2 Mercedes (current one now 10 years old)….only regular for these them mountains!   So let’s see what these mountains had to say about real estate this last week.

  • Residential Real Estate – week of 6/4 – 6/10
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New Listings – 42; Escrows – 12; Solds – 18  (7 slightly under ask; 11 at or over ask)
  • Incline Village/Crystal Bay MLS.  New Listings – 18; Escrows – 7; Solds – 1
  • East Shore, NV MLS.  New Listings – 11; Escrows – 3; Solds – 4
  • Reno/Sparks MLS.   New Listings – 206; Escrows – 143; Solds – 115

Definitely seeing an uptick in new listings, but it’s still not a flood and probably won’t be.  We are still under the number of actives that we had before March 2020.  The tempo has slowed but our beautiful area continues to be desirable and probably will be ongoing.  Attached below is a fun report pretty much describing the State of our Market at Tahoe.

  • Real Estate/Local/Luxe
  • Reno Phil:  Free concert at Wingfield Park in Reno on July 4.  Pops on the River on River, July 9, with a few tables left.
  • Incline Village Bowl.  Has just reopened with new owners and the food is great!
  • Used Cars:  While wholesale used-car prices (on a mix- mileage-and seasonally adjusted basis) inched up 0.7% in May compared to April, they are up just 9.7% Y-o-Y. While still large, Y-o-Y prices were up 45% as recently as January and 14% in April. Moreover, May prices rose the first three weeks of the month but declined over the last ten days. Used-car prices remain up about 55% compared to their pre-covid level.  Elliot Eisenberg, Bowtie Economist
  • NAR Research:  The real estate industry was responsible for $3.9 billion, or nearly 17%, of the national GDP in 2021, according to a study published by the National Association of Realtors. via RealTrends http://ow.ly/KxgS50JrxIf
  • Cycling on Sea:  Hydrofoil ebike.  https://www.youtube.com/watch?v=bKQUlLelTls  Haven’t seen one on Tahoe, but maybe I missed it!
  • Chase International’s 26th Luxury Estates Tour, June 23.  See invitation below.
  • Lady Gaga:  Tickets to see Lady Gaga at Oracle Park Sept. 8 are available now through StubHub.
  • Lamb Chop.  Clean and dry from bath #2, Lamb Chop went right out the dog door back to the burial ground for an overnight stay.  Dancer woke me at 5:30 to go retrieve it, bringing back an almost black specimen.  Her current second favorite toy is recent gift Goose with a wonderful honk, but it hasn’t warranted a burial spot nor has current third favorite Moose.  The others…Rabbit, Racoon, Foxie, Parrot, Dinosaur and Giant Lamb Chop have also never been to the burial ground.  Seems to be reserved for Lamb Chop.
  • Outdoor Summer music is starting in the whole region with free ones on Wed nights with Music in the Park, Truckee Regional Park,
  • Sunday at Commons Beach in Tahoe City, and Truckee Thursdays starting the 23rd.
  • Entertainment
  • Spuddle: A useful verb from the 17th century that means to work feebly and ineffectively, because your mind is elsewhere or you haven’t quite woken up yet.  To be extremely busy whilst achieving absolutely nothing.
  • A man boarded a plane with six kids. After they got settled in their seats a woman sitting across the aisle from him leaned over to him and asked, “Are all of those kids yours?”   He replied, “No. I work for a condom company. These are customer complaints.”

Hope you have no complaints this week and have a joyful, productive one!  See you next time!

Best wishes,