2020 is another big year for Luxury Real Estate in Lake Tahoe! Luxury Lake Tahoe Homes are properties priced in the top 25% of a price range. Over the past couple years, in most major markets in the U.S., higher priced properties didn’t get as much interest as starter homes as Millennials were the highest percentage of buyers. According to the Institute for Luxury Home Marketing, there seems to be a shift as the 4th quarter showed an upswing in the luxury market with momentum growing. Luxury Real Estate in Lake Tahoe is expected to see a lot of activity this year thanks to increasing wages, higher home equity, low interest rates and more inventory available. These factors combined drive a lot of buyer activity as there are so many people looking to move up. Additionally, when comparing to 2018, 2019 had more luxury home sales towards the end of the year as those who were in a holding pattern earlier felt confident about investing in a lavish home. 2020 is expected to continue with a strong economy making it a great time to explore buying Luxury Real Estate in Lake Tahoe. The unique thing about this type of real estate market is that the term “luxury” means different things to different people. For one buyer, it could mean a lakefront home with private pier and an expansive house with amenities like in home theatre, indoor pool and spacious guest house. For another it could mean a modern mountain lodge nestled on acreage at the base of a mountain. Whatever you are looking for, be sure to contact a Luxury Lake Tahoe Realtor as we specialize in this nuanced market. Want to upgrade this year? Give me a call. I would be happy to help!
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