Lake Tahoe Resort Report
2021 Year in Review
Across the country, demand for resort living has continued to surge over the last two years. Brought on by the events of 2020 and pandemic lifestyle changes, consumers have begun to put a premium on their living situations, choosing to live where they want rather than where they need to. This shift in mentality and the ability to work and stay connected remotely led to a major migration from the city to resort regions throughout the Western United States.
Sierra Sotheby’s International Realty produces an annual Resort Report that specifically analyzes real estate market data for homes in resort locations, including Aspen, Breckenridge, Crested Butte, Steamboat Springs, Telluride, Vail, Beaver Creek, and Winter Park in Colorado; Park City, Utah; Sandpoint and Sun Valley, Idaho; Jackson Hole, Wyoming; Big Sky and Whitefish, Montana; North and South Lake Tahoe, California/ Nevada; and Santa Fe, New Mexico. New this year, the annual Resort Report is excited to welcome three new resort markets: Winter Park, Colorado, Whitefish, Montana, and Sandpoint, Idaho. All markets represent the most significant trends in resort real estate today, showcasing the demand for living in the mountains, near the water, or best yet, a combination of both as often found in these coveted resort communities.
Throughout these resort locations, market speed increased at an expeditious rate. All regions saw a decrease in average days on market, ranging from 187 days at the highest to just seven days at the lowest. Additionally, all areas saw either an increase in the average sold price or total dollar volume sold. The results of 2021 indicate clearly that no matter the location, buyer demand is continuing to go up, and with limited inventory in most areas, sellers will continue to be in an optimal position as we head into 2022.