Market Update – North Upper Truckee, South Lake Tahoe

Those of you that find a benefit to tracking the real estate market trends will want to check out our latest update of the North Upper Truckee area of South Lake Tahoe.  According to statistics provided through the South Lake Tahoe Association of Realtors’ Multiple Listing Services, the big picture for North Upper Truckee in general is (applause, applause) a median home price of $407,500, near the peak of $415,000 found during the months of Oct. 2008 & Feb.- Mar. 2009.

North Upper Truckee 1 (located where North Upper Truckee Rd feeds off of Hwy 50 near Meyers and ends at Zuni Rd) saw an estimated 8% decrease in median home prices  ($395,750 to $362,750) between the period of Aug. 1, 2008 through July 31, 2009 when compared to the same months one year earlier.  On the positive side, there were 28 closed transactions as compared to 20 in the previous year.

North Upper Truckee 2 (the area from Zuni Rd to Tahoe Mountain Rd) saw an estimated 6% increase in value, from $547,000 – $580,000, with half as many sales – that being 5  as compared to 10 the previous year.  This area was hardest hit during the 2007 Angora Fire and is currently undergoing a transformation from smaller homes in wooded areas to newer, larger homes with wide open views.

Be sure to check out more information regarding the  North Upper Truckee area.  Within this neighborhood profile, one can learn more about the overall make-up of the area, nearby points of interest and follow the real estate market activity as far back as 2003.