Chase International’s Corporate Broker and Senior VP, Susan Lowe, discusses Lake Tahoe’s real estate market in a piece in this morning’s RGJ Sunday Business Section. See Tahoe home sales stage comeback. [Note: I’d post a link to the article, but at the top of the story is an “Only In Print” disclaimer. So it looks like, for now, you’ll have to pick up a hard copy of the Sunday RGJ to read the story.]
The article points out that every Lake Tahoe area but one saw more home sales in 2010 than in 2009. Additionally, Lowe says the luxury buyer is returning to Lake Tahoe and cites the fact that in 2009 there was not one home sale for over $10 million, but in 2010 there were six residential sales for over $10 million. According to Lowe pricing at the lake is down to roughly 2002 pricing.
| REGION | 2009 | 2010 |
| Incline Village | $915,000 | $827,000 |
| East Shore | $545,000 | $570,000 |
| South Shore | $317,750 | $317,000 |
| Tahoe City | $530,000 | $450,000 |
| Total – lakewide | $576,938 | $541,000 |
| REGION | 2009 | 2010 |
| Incline Village | 64 | 91 |
| East Shore | 85 | 91 |
| South Shore | 450 | 517 |
| Tahoe City | 211 | 247 |
| Total – lakewide | 859 | 999 |
Randy
Great to hear that Tahoe is avoiding the double dip that most of the country is seeing. I hope it’s a good sign that this resort town is beating the odds, perhaps the rest will follow soon.
Rubiconer
uh, Randy….
All this report says is that sales volume is up and prices are down. There is nothing here to suggest that a double dip has been avoided. To have a double dip, prices have to fall, then rise, then dip again. So far at Tahoe prices have only fallen. There has been no rise off the initial fall.
I would think that as a realtor, you might grasp this concept.