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’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.

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.

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

Terrific location for this lovely three bedroom, 3.5 bath Old Greenwood Cabin. Enjoy all the amenities of the Tahoe Mountain Club and easy living, fractional ownership. Week 3 is January 20-27, 2012, so perfect time for a winter ski vacation! Flex reservations set for November 21 – 25, 2011; mid-week reservations are super for spring skiing – April 6 to April 9, 2012.

PLUS enjoy a 7 day, 6 night stay at a luxury home in OG’s Private Residences with your fractional purchase. Enjoy Old Greenwood now!

Spring is “almost” in full bloom here in Truckee-Tahoe after a glorious winter! While real estate inventory is still tight, Elder Group expects a solid amount of new inventory coming to market over the next six weeks. I wanted to share with you a beautiful new luxury listing – Stony Creek Lodge – in Sugar Pine Estates in Truckee. Custom designed by MWA, Inc. and built by Cotton Construction, the Lodge is truly one of the nicest luxury properties with acreage in Truckee. Nestled above Alder Creek, this 8.53 acre estate offers 5,006 square feet of luxury, five en-suite bedrooms, two powder rooms, two offices, wine room, butler’s pantry and an open great room and bistro kitchen that will simply knock your socks off! Down the sweeping driveway is a multi-purpose Barn and paddock – truly plenty of room to store your pet’s necessities, seasonal “toys” and of course, a tack room. Enjoy a virtual tour of this home at www.StonyCreekLodge.com  and please feel free to contact me to schedule a private showing of this mountain beauty. Welcome home to Stony Creek Lodge – you’ve arrived.

In the luxury real estate market, we experienced a 20% increase in homes sold under $1MM and a 67% decrease for homes sold over $1MM. Why? The value of $1MM+ home sales has decreased substantially over the last three years. Home buyers can now secure a lovely home that is under the $1MM mark.

Clearly, now is the time to buy your Truckee-Tahoe vacation retreat, second home or simply, move on up to the mountains as pricing appears to have stabilized. In several recent Q2, 2011 sales, I am seeing an uptick in square footage prices. Please feel free to call or email me for further information and discuss the neighborhood you are interested in following.  For more statistical information, click here for Elder Group Tahoe/Chase International Q1 Truckee Sales Statistics.

And, Tahoe Donner has fabulous inventory available at excellent price points. Visit Tahoe Donner Neighborhood to view all Tahoe Donner properties for sale. The snow is coming next week – come on up, do a little skiing or snowboarding and contact me to view properties!