So. Tahoe Median Home Prices Showing Slight Improvement
The South Tahoe Association of Realtors’ recently posted the statistics for the median home prices found within single family residences as of June 30th, 2010. These numbers are based upon the averages for the previous twelve months and compared to the previous years. The good news is that as of June 30th, the median home price increased once again, to $326,500. This median home price is fairly close to that of the $325,000 found in February of 2004. If interested, we have a chart that will show the month to month comparison for the past five years.
When comparing the number of homes sold and the dollar per square foot, the news is mixed. Between July 1, 2008 and June 30, 2009 there were 375 sales with a median square footage of 1604, a median list price of $399,000 and a median sales price of $370,00. During the same period from 2009 – 2010, the number of closed escrows increased to 515, the square footage was up to 1707 (slightly more bang for the buck) with the median asking price being $331,650 and a median sales price of $325,000. Another positive bit of news is that the decrease in value over the same period last month is only 12.9%. This is the lowest decrease we have seen since August of 2009 and in fact, the neighborhoods of Montgomery Estates, North Upper Truckee 1 and Christmas Valley 2 saw increases in the median home prices recorded in their areas.
I like this news!
Encourage update. Thanks Don & Theresa for all the hard work you do.
Yep, the real estate market is definitely heating up over here in the NV side of Tahoe too. Which is good news for all of us (even though we’d never sell our house in Skyland, someday we’ll sell our vacation rental homes on the CA side.) Tahoe was and is the best real estate investment we have ever made. And we’ve made a lot. I used to joke that every time we went somewhere cool, my husband would buy a house. Drove me crazy. Now we just own in our favorite places: Tahoe and Hawaii.
Good information. Thanks for sharing.
Nice information, I’m ready to sell!
Great news… Love our Tahoe home, put a lot of blood sweat and $$ into making it an amazing vacation getaway. But would like to “get away to even more exotic places so hoping to sell soon. The market news is encouraging. Don & Teresa I appreciate your passion and longevity in the Tahoe market and I am confident you have good intuition.