Home prices in Lake Tahoe and surrounding areas continue to surge during the third quarter, with volume up 60 percent and homes selling for less than a million leaping 293 percent! The report compared the first three quarters of 2013 to the same timeframe of 2012, show a 78 percent rise in homes sold for more than a million. The median price of a home in Lake Tahoe is up 33% to 440,000.
Incline Village experienced the most activity, with a 139% rise in volume sold and 57% jump in units sold. Homes selling for more than a million are up 102% and those selling under a million dollar mark are up 37%. The median price of a home in Incline Village is up 26% to 885,000, the highest around the lake.
Truckee also saw a jump in homes sold for more than a million (76%), with a 41% increase in volume sold. Homes sold for less than a million are up five percent. The median price of a home in Truckee is up 13% to $499,900.
The Tahoe Donner real estate market continues to strengthen and serves as a benchmark for trends overall in the Truckee real estate market. Third quarter statistics indicate a solid 10% gain over the same period in 2012. Mid-market sales between 500,000 and 750,000 gained 11% percent and the under $500,000 market rocked right along with 15% unit sales and volume. The $1,000,000 market stayed stable at eleven units sold.
Truckee 2013 3rd quarter stats
Tahoe Donner 2013 3rd quarter stats
Tahoe City 2013 3rd quarter stats
Squaw Valley 2013 3rd quarter stats
The numbers tell the truth! Tahoe/Truckee real estate market is booming! With prices stabilizing and interest rates still very low if you are considering selling your home or buying your dream cabin, the market is the best it’s been in years. Contact Alison Elder, Elder Group Tahoe Real Estate, proudly affiliated with Chase International at 530.582.8103 or info@eldergrouptahoe.com for more information. Or, visit our website at www.ElderGroupTahoeRealEstate.com. We look forward to hearing from you!
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