Tahoe Real Estate Mid Year Stats 2011
We are continuing to see a positive upswing for the Lake Tahoe Real Estate! The mid year stats for 2011 have just come in.
This graph shows numbers for the Lake Tahoe real estate market for the first half of the year in 2011 compared to 2010. There was a 9% decrease in sales volume this year compared to last. Also, a 4% decrease in number of units sold. The median price for single family homes increased by 2% and the median price increased by 2%.
Here is a press release with more information about the Lake Tahoe Real Estate Market:
Tahoe Home Prices See Slight Increase
LAKE TAHOE, Nev. (July 6, 2011) – Median home prices in Lake Tahoe stayed relatively flat throughout Lake Tahoe, with substantial increases in East Shore prices, according to a midyear report released by Lake Tahoe-based Chase International.
The median price of a single-family home in Lake Tahoe is up two percent to $540,375 and the average price is up nine percent to $962,705. Those numbers were boosted by a 20 percent increase in median home price on the East Shore ($625,500) and a 67 percent increase in average price ($1,565,642). The report compares home prices and sales from January 1 through June 30, 2011 to the same time period of 2010. Overall sales volume in Lake Tahoe was down nine percent and units sold dipped four percent.
“We had some strong sales and increases the first quarter but saw a decline in the second quarter of this year,” said Sue Lowe, corporate vice president for Chase International. “I think we are still bouncing around the bottom of the market.”
Tahoe City saw a three percent increase in median home price ($475,000) and a 15 percent drop in average price ($681,634), caused mostly by a seven percent boost in sales of homes over a million and a 27 percent drop in homes sold for less than a million.
Average and median prices were down in both South Shore (ten and 12 percent, respectively) and Incline Village (11 and five percent). Sales of million-dollar homes were down in all areas of Lake Tahoe, except the East Shore, which experienced a 71 percent jump in sales of more $1 million.
Condo sales around the lake were up nine (volume) and 13 (units) percent, with Incline Village seeing the biggest jump in units selling for more than $500,000. Tahoe City experienced a 136 percent increase in units sold for less than $500,000.
The average price of a home in Truckee is down 13 percent to $534,313 and the median is down 14 percent to $433,000. Sales volume was down nine percent but units sold was up four percent, reflecting a nine percent increase in homes sold for less than a million and a 33 percent decline in homes sold for more than a million.
Click on the image below to see more information about Lake Tahoe & Truckee sales stats.
















