Real Estate – April 2021

The Nevada East Shore took a dive in new listings last week. This was the first time since mid-March new listings fell behind the number of properties entering escrow. South Lake Tahoe had a 30% increase in new listings just beating out the number of properties entering escrow. Closed sales for April 2021 more than doubled on the East Shore from last year while sales tripled from one year ago at South Lake Tahoe.

In the past six months, rental prices in Lake Tahoe and Truckee have risen by 25% to as much as 50%. Last year, a three-bedroom home might have rented for $2,000 to $2,500. Now, those same homes are renting for closer to $3,000 a month, while larger houses are renting for $5,000 a month, or higher. Many landlords however are seizing the opportunity to sell homes they previously rented to locals. The best way to get a place right now is knowing someone who knows someone, said a woman on Facebook looking for a rental.