Luxury Lake Tahoe real estate saw quite an impressive rebound that was forecasted for 2020 by experts. The original predictions pre-pandemic was that the luxury market would be in a buyer’s market. However, the median sold price for real estate across the nation saw a 4.8% increase since January and sales doubled since May once the Shelter in Place orders were lifted or modified. This has changed the Luxury Real Estate Trends with the following being at the forefront of these changes.
- Priorities Have Changed
The affluent consumer is no longer prioritizing tangible items the way they are safety, family, friends and health. Finding a home that incorporates these factors have become highly important to those looking at luxury homes for sale in Lake Tahoe. Consumers want a place they can spread out, enjoy fresh air, work remotely and be close to outdoor activities that are family friendly.
- Relocations Have Increased
One of the biggest trends the real estate industry has seen is that people are now able to relocate to wherever they want to. Thanks to teleworking and distanced learning, people can live in places they thought they would have to wait until retirement to live. With Lake Tahoe real estate being the destination of choice for so many Bay Area tech workers, it wasn’t shocking that those residents decided to make our area home. Not only does the dollar stretch further than in the city, but they get amenities like more square footage, close proximity to the lake, skiing and other outdoor recreations.
Whatever anyone’s reason is for buying luxury homes for sale in Lake Tahoe, finding a Realtor with local expertise is crucial. A Lake Tahoe Realtor who responds quickly to clients’ shifting needs, can adapt to the new procedures for guiding real estate transactions to completion safely, and uses virtual technology saves their clients time, money and stress. If you are looking for luxury real estate in Lake Tahoe, feel free to give me a call. I am well versed in helping both sellers and buyers with listing and buying exclusive properties.