The Lake Tahoe real estate market continued its post-recession improvement last year, according to Nevada-based Chase International.
The 2014 median sales price of a Lake Tahoe home increased 7 percent year-over-year to $475,000; the average price was $807,088, up 4 percent from the previous year.
Unit sales, however, were down around the lake, with overall sales volume dipping 8 percent. Homes selling for more than $1 million were down 6 percent.
Sue Lowe, corporate broker and senior vice president for Chase, said fewer homes were available for buyers re-entering the market. “We like slow and steady improvement,” Lowe said in a statement. “It’s a sign of a stable and healthy market. Sales will catch up and further increase home values.”
Chase said Tahoe City showed the biggest improvement last year with a 14 percent jump in sales volume, a 24 percent rise in average price ($966,456) and a 7 percent jump in median price ($545,000), compared with 2013.
More details are at chaseinternational.com.
Call The Bee’s Mark Glover, (916) 321-1184.