Real Estate News

Median home prices continue to rise in high-end Lake Tahoe market

The median price for a home in the high-end Lake Tahoe real estate market continued to climb in the third quarter, according to Nevada-based Chase International Real Estate.

The median price of a Lake Tahoe home increased 5 percent year-over-year to $482,500.

Chase said homes priced at less than $1 million saw an annual surge in sales, 9 percent, while those selling for more than $1 million dropped 11 percent, which Chase attributed to low inventory of available lakefront properties.

Chase said the Tahoe City and south shore markets saw year-over-year sales gains at 6 percent and 14 percent, respectively.

The east shore had the biggest annual jump in the median home price, 19 percent, to $755,000.

Mark Glover: 916-321-1184, @markhglover