2025 was a year of sorting in the Tahoe Truckee real estate market, with an increasingly K-shaped split between record-setting luxury performance and a more measured mid-to-entry level pace. While average prices rose 8% year over year and transactions increased 8%, demand was strongest for premium, lifestyle-driven properties—highlighted by a record 23 sales above $10M—while other segments adjusted through longer decision cycles, more strategic pricing, and limited quality inventory at the entry level. Overall, the market posted 1,252 sales and more than $2.2B in volume, signaling a shift toward value defined by use and utility, and positioning 2026 for steady, sustainable activity.
