Whitney Ranch Market Update | April 2024

Whitney Ranch Market Update | April 2024

The news surrounding changes to the methodology of selling residential real estate has dominated news cycles in recent weeks. While this information is topical and will likely create enduring changes to the practice of agency, it has obscured news around a return to normalcy for real estate in Whitney Ranch measured by the simple factors of supply and demand.

Whitney Ranch saw 15 residential properties close in March. This is the highest quantity in any month for exactly a year and equals the greatest number since the peak months of 2020 mania. After a period of slumping inventory, this surge in activity is a jolt of energy into a market that has outperformed regional and national trends over the last 18 months.

It is not uncommon for values to lag during a month in which a large number of homes transact. Year-to-date, the average home sale in Whitney Ranch is 5% below last year and nearly equivalent to 2022 pricing.

Inventory has remained tight and pricing nearly fixed because sellers who’ve otherwise exhausted the useful life of their Tahoe investment perceive poor buying conditions wherever their next move may take them. A general acceptance of pricing and interest rates in these downstream purchases seem to be loosening up inventory in the local market. Supply has crept upward proportionately each of the last few years and indications are that the typical Memorial Day listing seasonal will be healthier than in recent years.

For more information on Whitney Ranch Realty’s position on the National Association of Realtors settlement agreement around antitrust litigation, please see below:
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