The Real Estate market in Lake Tahoe for the $1,000,000 to $2,000,000 has taken a 30% increase in units sold.
Comparing a 6month period, the homes ranging from $1,000,000 to $2,000.000 in 2011 to 2012 is on the rise.
In 2/31/11 to 8/31/2011 according to the MLS there was 36 homes sold. From the period of 2/28/2012 to 8/31/2012 it hit 47 homes.
The 30 % increase of sales tells us that the market is in fact changing. The current market conditions may still not be at the highest optimal for all sellers yet the market has stabilized and is moving in a positive direction.
3600 North Lake blvd. #171 sold for $1,100,000 in less than 30 days.
The increase in sales we believe to have a direct correlation to the all time low interest rates for existing home purchases in the United States. In addition, another contributing factor to sales is the supply and demand ratios which and always will exist in the Lake Tahoe area (limited amount of resale properties with a larger demand). As most of us are aware, the geography in the Lake Tahoe basin is limited. There are a limited number of properties and even more limited number of real estate opportunities such as single-family homes, condo’s and vacant lots. Yet, Tahoe will always be in high demand because of its obvious beauty and location. Along with close proximity to major metropolitan areas such as the San Francisco Bay area. Due to these factors, property desirability and value will always create an investment opportunity for both the buyer and sellers.
Please contact my team for more information for your property and to learn more about buying and selling your home with Century 21. Kelly Smith / 530-546-8224 / email@example.com
*Above information is based on the Tahoe Sierra Board of Realtors MLS. These statistics are deemed reliable but not guaranteed These sales do not include the sales outside of the MLS – Sierra Board of Realtors