Tahoe real estate: Median home prices at $679,500 so far in 2018 | nnbusinessview.com

Tahoe real estate: Median home prices at $679,500 so far in 2018

Single-family home median price in Incline Village now at $1.18 million

NNBV staff report
These raw statistics provided by Chase International for the Lake Tahoe region compare the first half of 2018 (left column) to the same timeframe from 2017 (right column).
Courtesy Chase International

ZEPHYR COVE, Nev. — The price of a single-family home at Lake Tahoe jumped 18 percent from this time last year, making the median price of a home $679,500, according to Chase International.

Sales also continued to climb in the first half of 2018, according to the real estate firm’s mid-year statistics, with overall volume sold up 27 percent.

The figures released July 5 compare all MLS home sales from Jan. 1, 2018, through June 30, 2018, to the same timeframe of 2017.

“Million-dollar homes continue to soar,” according to a Chase International press release. “There was a 38 percent jump in homes sold for more than $1 million, while homes priced under the million-mark stayed flat.”

Tahoe City and Incline Village reportedly saw the biggest increase in the sale of million-dollar homes, up 44 and 46 percent, respectively. Incline Village continues to have the highest median price for single-family homes, up 7 percent to $1,180,000 (median price for condos in Incline sits at $529,500).

The price of a home in South Lake Tahoe — the lowest median on the lake — rose 12 percent to $502,500, according to Chase.

The East Shore experienced the largest increase in homes sold for less than a million dollars, up 63 percent. The area also had the largest increase in sales overall, with a 66 percent jump in volume sold and 47 percent in units sold.

The price of Lake Tahoe condos also continues to rise, with the overall median price up 8 percent to $422,500. The overall sale of condos on the lake was up nine percent in volume.

The median price of a home in Truckee, according to Chase, rose 10 percent to $737,500, with units sold for more than a million up 49 percent. Homes selling for less than $1 million was down 8 percent.




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