Tahoe Real Estate Market, A Message From Expert David Gemme

David Gemme

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A Message from David Gemme

hope this message finds you well and you are enjoying the tail end of summer. As we rapidly move into fall, I want to start with my sincere gratitude to all the firefighters and first responders on the front lines of these fires throughout California. 2020 has been a year that will never be forgotten in our minds and hearts. It's been filled with challenges which have made us rethink our lives, who's most important, and how we can create a life more balanced. All of these fears and challenges have been brought to the surface to witness our humanness, the stratification within our society, and for many, the imbalance in our lives.

Photo Credit: Kurt & Candace Williams at Photo Tecture

The Tahoe real estate market has been a direct reflection of these ideas this year. The market has broken historic sale records. The entry-level market has been wiped out with low-interest rates, competitively low inventory, and first and second home buyers seeking to have a place to come, now that many of their jobs have a "work from home" mandate due to COVID. The entry-level Luxury market has been highly competitive with multiple offers on many of the new listings and a 23% increase in square foot price in just three months. The Upper luxury market has been fluid and strong.

Homes that have been sitting on the market for over 180 days have now been purchased at near asking price and inventory of these homes are at a historic low. Luxury neighborhoods like Martis Camp have moved their entry-level inventory from $4M in 2019 to $5.5M currently. Lakefront sales are no different, there have been several sales above $20 million with the highest being $38 Million sold over on the east shore. For a more detailed explanation of the micro markets around Lake Tahoe, California or Nevada, feel free to call me directly on my cell phone or contact us at our website.

Photo Credit: Kurt & Candace Williams at Photo Tecture

For our Buyers - It's worth spending the time and figuring out where and what you're looking for, and be perched and ready to offer quickly as inventory is not sitting long and there is a ton of pent up demand.

For our Sellers - In my 17 years of selling real estate in Lake Tahoe, I have never seen a better time to sell your estate or property. Seller's should expect very thorough inspections, short contingency periods and a quicker than normal close.

It's my hope moving into the fall, that we can forge ahead and ride the remaining portion of this year with style, grace, and collaboration. We have included several links below to donate to fire victims and firefighters. Thank you all for rising to the challenge

of this year. "We welcome the opportunity to help you or someone you love". Thanks for reading and enjoy.

Kind Regards,

David Gemme

For more information, please contact David Gemme at (530) 277-8881 or david@gemmegroup.com

David Gemme is the exclusive agent representing the Carnelian Bay / Squaw Valley / Truckee / West Shore / Schaffer's Mill / Martis Camp / Lahontan / Tahoe City, CA real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.

David Gemme - September 2020 blogPhoto Credit: Kurt & Candace Williams at Photo Tecture

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