Luxury home sales in North Lake Tahoe and the Truckee area fell in this year’s first quarter compared with the same period a year ago, but the median sales price increased, according to the regional office of Coldwell Banker Residential Brokerage.
Thirty-five homes sold for more than $1 million during the January-to-March period, down 24 percent from 46 high-end sales in the opening quarter of 2014.
The median sale price of the million-dollar homes in the first quarter was $2.02 million, up 15.7 percent from the same period a year ago. The average sales price was $2.89 million, up 17.6 percent from last year.
Michael Lombardi, manager of Tahoe region brokerage, said the year-over-year sales decline “could be expected as 2014 was a banner year for luxury sales, which produced the highest level of sales in the last nine years.”
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.