Tahoe’s real estate holds steady in 2015
ZEPHYR COVE — The Lake Tahoe real estate market ended the year with minor but relatively healthy increases — seeing a 3 percent increase in both units sold and median home price. The median price of a home around the lake is $490,000.
The numbers are part of a report released by Chase International Real Estate, comparing all MLS sales from Jan. 1, 2015 through Dec. 31, 2015 to the same timeframe of 2014. Lake-wide, (dollar) volume sold was down three percent, with units selling for more than $1 million down eight percent. Homes sold for less than a million were up six percent.
“High end homes are a significant part of the Tahoe market,” said Susan Lowe, senior vice president of Chase. “Availability of those homes will always be a factor in the region. The steady increase in overall sales and price are indicative of a strong market.”
The South Shore and Tahoe City saw the biggest increases throughout the year. Tahoe City saw a 10 and 12 percent jump in volume and units sold, with a 2 percent rise in median home price (to $557,500). Volume and units sold were up 5 and 6 percent on the South Shore, where the median home price rose three percent to $361,061.
Volume and units sold were down on the East Shore (36 and 24 percent), but median home prices jumped 15 percent. Incline Village stayed relatively even across the board, with a 5- and 1-percent decline in volume and units sold, and 2-percent decrease in homes selling for more than $1 million. There was no change in the number of homes selling for under a million, and the median home price rose four percent to $920,000.
Sales of condos around the lake in 2015 were also stable, with a 5-percent drop in volume sold but a three percent increase in units sold. The median price was unchanged ($349,000).
The Truckee area saw an 8-percent drop in volume and five percent rise in units sold. Homes selling for under a million was up 13 percent and the median price dropped seven percent to $555,000.
Headquartered in Lake Tahoe, Nevada since 1986, with nine offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 310 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels. For more information about Chase International, visit http://www.chaseinternational.com.
Support Local Journalism
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User