Mortgage rates finally gave everyone a little treat this October, dipping to a 12-month low and hanging out in the mid-6% range. Sure, that’s still higher than the pandemic’s golden 3% era, but compared to the last year of sticker shock, buyers are breathing a collective sigh of relief. This small drop brought some much-needed energy back into the Tahoe housing market. Homes spent a median of 77 days on the market, about five days longer than last year, which means things are moving at a more normal pace again. Fewer bidding wars, more time to think, and even a little room for negotiation. Imagine that.

October turned out to be one of those “just right” months for buyers: a solid mix of listings, lower prices compared to the summer highs, and less competition from vacation-mode shoppers. Sellers eager to wrap things up before the holidays added to the buyer-friendly vibe, making it a great time to find a home without breaking into a sprint.

Now that we’re moving into November, we’re seeing inventory start to dip,  right on schedule. This time of year, homes that have been sitting since summer either go under contract or quietly disappear from the market until spring. New listings are slowing down too, and that trend will continue through the winter months. But here’s the silver lining: the homes that do hit the market this time of year usually belong to sellers who truly need to sell, meaning more motivated negotiations and potential deals for buyers.

So bundle up, grab that peppermint mocha, and keep watching the listings. The market may be cooling down, but for sharp buyers, winter in Tahoe can still bring some surprisingly warm opportunities.

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