Lake Tahoe real estate market sees gains in 2015

The median price for a home in the high-end Lake Tahoe market climbed modestly in 2015, according to Nevada-based Chase International Real Estate.

The median price increased 3 percent year-over-year to $490,000. Unit sales also increased 3 percent year-over-year.

Chase reported a mixed bag of results in the high-end market: Unit sales of homes selling for more than $1 million were down 8 percent from 2014, but the number of homes selling for less than $1 million was up 6 percent.

Chase said Tahoe’s south shore and Tahoe City areas saw the biggest increases in unit sales in 2015.

Tahoe City unit sales rose 12 percent, with a 2 percent year-over-year rise in the median home price, to $557,500. South shore unit sales increased 6 percent, and the $361,061 median price was up 3 percent from 2014.

The median sales price of condos around the lake in 2015 was $349,000, unchanged from 2014.

This story was originally published January 7, 2016 at 10:28 AM with the headline "Lake Tahoe real estate market sees gains in 2015."