In the entire Lake Tahoe area sales volume increased by 13 percent compared to the same period in 2015 and the increase in units sold was up 12 percent. The median price for the 1st and 2nd quarters is $525,000, a two percent rise, and the average price rose one percent to $779,128.
When you look at the statistics of specific regions around the lake you see some significant differences. Incline Village and South Shore saw the biggest gains in both units sold and dollar volume. Tahoe City and the East Shore saw declines. Click here to download 2016 2nd Quarter Lake Tahoe Sales Statistics
Sales activity in the Lake Tahoe area is very similar to national trends. According to the chief economist for the National Association of Realtors, Lawrence Yun, “This spring’s sustained period of ultra-low mortgage rates has certainly been a worthy incentive to buy a home, but the primary driver in the increase in sales is more homeowners realizing the equity they’ve accumulated in recent years and finally deciding to trade-up or downsize,”
For those interested in owning property in the Lake Tahoe area there currently are many very nice properties at competitive prices on the market. With very low interest rates it is a good time to purchase.
Contact Greg at info@GoSquaw.com or 530-913-6020.
Greg Rankin and Chase International does not guarantee the accuracy of this information. This data was obtained from the Multiple Listing Services (MLS) in the Tahoe and Truckee area. Not all real estate transactions in our area go through MLS, therefore, this information may not be completely accurate. CalBRE License #00826938
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