Lake Tahoe Area Real Estate Prices Soften in 2011

What a fabulous start to 2012! Let’s look back on the Lake Tahoe market results from 2011.

Lake Tahoe area prices continued to soften in 2011.  Recognizing the very specific and different communities around the lake, price adjustments varied significantly.

North Lake Tahoe, specifically Tahoe City, pricing softened significantly with an average price decline of 11% and median price decline of 16%.  Overall sales volume was 21% less in 2011 as compared to 2010.  However, the Tahoe City area market experienced a 7% increase in homes sold that were under $1MM (a whopping 223!) and a 26% decline in units sold over $1MM (31 homes). Click here to see 2011 statistics for Lake Tahoe real estate sales.

Amazingly low interest rates, along with a wide and wonderful property inventory, makes it a great time to purchase real estate in the Lake Tahoe area.  Please feel free to reach out anytime and let’s have a conversation!

Contact Alison Elder at 530.582.8103 or email Tahoe@AlisonElder.com for more information on Lake Tahoe real estate.

 

Truckee Real Estate Blossoms in 2011

Welcome to 2012!

Truckee’s real estate sales in 2011 soared in the under $500,000 market with a whopping 373 transactions and a volume increase of 2%.  Overall, prices softened in 2011 with the average price of a Truckee home at $562,811 and a median price of $438,166.

Both the average and median price points experienced a 10% reduction. The luxury market, with over $1MM sales, softened by 13% with 55 units sold in our resort and acreage communities. And, click here to see Truckee communities and Tahoe Donner real estate market results for 2011, with information on number of home sales, average and median pricing. It’s clearly a great time to purchase real estate here in Truckee!

Contact Alison Elder at 530.582.8103 or email Tahoe@AlisonElder.com for further information on Truckee and Tahoe Donner real estate.

 

Truckee 2011 Third Quarter Statistics

Truckee real estate home buyers have been busy and the market soft for home buyers! See the latest real estate and home sale prices and statistics here Truckee Statistics.

Tahoe Home Prices Stay in Step With Rest of U.S.

Home sales around Lake Tahoe took a small dip in the third quarter, while prices fluctuated in sync with the rest of the nation. The figures, part of a quarterly report released by Lake Tahoe-based real estate company Chase International, noted a four-percent decrease in units sold around the lake.

The median price of a home in Lake Tahoe is $370,500, down ten percent from the third quarter of 2010. The average home price fell 11 percent to $630,984. The National Association of Realtors recently reported that the median price of a home in the West ($189,400) is down 13 percent from a year ago.

While sales and prices were down around the lake overall, East Shore saw a seven-percent increase in median home price ($575,000) and 51-percent jump in average price ($1,408,018). Volume sold was up 32 percent, while units sold were down nine percent.

“We are starting to see the return of the high-end buyer with especially the East Shore experiencing some substantial high-end sales,” said Sue Lowe, corporate vice president for Chase International. “With the increase of high-end sales, we are anticipating a boost in end-of-year numbers.”

Truckee experienced some stabilization from this time last year, seeing a 16-percent increase in units sold and a 21-percent bump in units sold for less than a million. The median price of a home in Truckee is $435,000 (down 12 percent) and the average price is $554,744 (also down 12 percent).

The condominium market fared somewhat better around Lake Tahoe with a four-percent rise in units sold and 43-percent increase in units sold for more than $500,000. Tahoe City experienced the biggest jump in sales, with a 35-percent rise in units sold and up 52-percent in units sold for less than $500,000. South Lake Tahoe saw a 32-percent increase in overall volume sold, with median and average prices rising 36 and 32 percent, respectively. The median price of a condo in Lake Tahoe is $274,400 (down five percent) and the average price is $353,136 (down four percent).

For more information or assistance with purchasing Lake Tahoe or Truckee area real estate, contact Alison Elder (hot link to my site) at Tahoe@AlisonElder.com or 530-582-8103.

Lake Tahoe and Truckee Real Estate Statistics – June 30, 2011

Lake Tahoe and Truckee real estate home buyers have been busy and the market soft for home buyers! See the latest real estate and home sale prices and statistics here Lake Tahoe and Truckee Statistics.

North Lake Tahoe, West Shore, Tahoe City and Truckee home sales have all posted slightly higher unit sales for the first half of 2011 as compared to 2010. The Lake Tahoe area is up 2% and Truckee 4% over 2010 unit counts.

Prices softened in Truckee (Truckee Statistics) by 13% on average with sales adjusting by -14% from $614,786 to $534,313. Fewer homes sold over the million dollar range – 18 units, representing a 33% decrease in luxury sales.

In combined areas of the West and North Shores plus Tahoe City, the average price fell 15% from $804,135 to $681,634 (LINK HERE FOR LAKE ONE). However, $1MM+ home sales at the Lake increased 7% by unit count with 92 sales recorded as compared to 86 units in 2010.

For more information and specific neighborhood information, contact Alison Elder, Elder Group Tahoe Real Estate at 530-582-8103 or Tahoe@AlisonElder.com