Friday, July 10, 2009
South Shore real estate numbers
Homes selling for less than $1 million are boosting the Lake Tahoe real estate market, according to a mid-year report released by Lake Tahoe-based Chase International. Sales of homes priced more than $1 million were up 7 percent in the basin, with homes more than $1 million down 41 percent from this time last year. While sales volume around the Lake was down 19 percent, units sold stayed relatively level with a 2 percent decrease from this time last year. The average price of a home in Lake Tahoe is $886,045 (down 6 percent) and the median is $540,125 (down 24 percent). South Lake Tahoe showed the biggest increase in homes sold for less than $1 million (15 percent) with units sold jumping 11 percent. Volume sold fell 15 percent and homes sold for more than a million were down 75 percent. The average home price in South Lake Tahoe is down 23 percent to $375,565 and the median price is down 20 percent to $318,000.