With the Release of the 3rd Quarter MicroMarket Reports for the Truckee and Tahoe area by Sierra Sotheby’s International Realty, I couldn’t help but think about the two key components of the analytical process, including interpretation of the analytics and expressiveness of the analytics.
For this post, I reviewed the statistics for the Truckee housing market, comparing the data sets for median price, average price, days on the market, and number of sold properties for each distinct neighborhood listed in the report. On one hand, I was surprised at the large differences in the data sets, but on the other hand, Truckee’s diverse housing stock attracts buyers with diverse needs. Martis Camp Median Price change from 2014 to 2015 (January through September) was up a whopping 42% with Lahontan, Glenshire, and Old Greenwood at 12, 13, & 14 percent respectively. The medium price of other neighborhoods remained almost unchanged and some neighborhoods dropped as much as 17% (Donner Lake Single Family Homes). These differences certainly confirm both the importance of these analytical reports and the expressiveness of them.
So what do these numbers suggest? To me they suggest the importance of working with a real estate professional who understands the local market in every size, price point, and neighborhood combination. In addition to the normal “search by neighborhood” function you find on most real estate websites, you now have the unique ability to search “Lifestyles” in four categories on the Truckee Luxury Property website. The categories include Golf Course Luxury Homes, Tahoe Lakeview Luxury Homes, Tahoe Lakefront Luxury Homes, and Tahoe Ski Resort Luxury Homes. In developing this capability, the Truckee Luxury Property team spent a great deal of time exploring and expanding their knowledge of each neighborhood within the entire Truckee-Tahoe area.
So, take a look at the latest quarterly MicroMarket Reports prepared by Sierra Sotheby’s International Realty and then contact Greg or Nathan to help you further interpret the data. In addition to the Truckee report, there are reports for North & West Shore, East Shore, Incline Village, Reno, and South Lake Tahoe.