Increased real estate sales in the Lake Tahoe for Q1 2011. Lake Tahoe recorded a 23% increase in sales volume during the January – March period as compared to the same period in 2010. Single family home sales neared $150MM in 2011 as compared to ~$120MM during the same period in 2010. Single family homes experienced a 6% increase in units sold. Along with an increase in the volume of “sold” real estate, the average price increased from 4728,445 to $937,501. Does this mean prices are going up? Not necessarily – the median home sale price in the Lake Tahoe area only increased 11% – from $510,294 to $564,500. What this tells us is home buyers recognize that lower prices and great financing rates won’t last forever – now really is the time to buy. For more statistical information, click here for Elder Group Tahoe/Chase International Q1 Lake Tahoe Sales Statistics.
Leave a Reply