The results are in and the forecast is good. Last year real estate sales in the Truckee, Lake Tahoe and Reno region saw a slight increase in medium home price and properties sold; pair that good news with a terrific early winter snow pack and it looks like we have a very positive start to a new year.
A recent internal year-end report from my affiliates at Chase International that compared 2014 to 2015 noted that the region saw a three percent bump to the good in both homes sold and the median home price. Homes valued at less than one million were up six percent.
Our neighbors south of our real estate office in Truckee saw the biggest increases throughout the year with a 10% boost in sales throughout Tahoe City and the South Lake Tahoe region where the median home price also rose three percent.
Lake Tahoe’s East Shore had both good and not so good news; median home prices jumped 15 percent yet the volume of sales was down 24 percent.
There was no change in the number of homes selling for under a million in Nevada’s North Shore community of Incline Village yet they can celebrate a bit as the median home price rose four percent to $920,000.
Residential and vacation condominium sales in Lake Tahoe held their own as well with a three percent increase in units sold; the median price stayed flat at $349,000.
Here at home within our Truckee and Tahoe Donner real estate sales efforts, home sales for under a million were up 13 percent yet the median price dropped seven percent.
If you’d like more specific details about real estate trends in the luxury home market or vacation rental investment opportunities, please feel free to contact us at Elder Group Real Estate.
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