Lake Tahoe home sales held steady through late summer with a 5 percent increase in volume sold. The number of homes sold, however, was down 7 percent, according to a quarterly report released by Lake Tahoe-based real estate agency Chase International.
Homes sold for less than $1 million continued to fall (9 percent) while homes sold for over $1 million rose 4 percent, according to the Chase report. The numbers compare all MLS home sales from Jan. 1 to Sept. 30 to the same time frame of 2016. The median price of a home in Lake Tahoe rose 1 percent to $580,000.
South Shore saw the biggest jump in the sale of million-dollar homes, up 24 percent, with the East Shore following at 6 percent. Incline Village had the largest increase in volume sold. It’s also the most expensive area to purchase a home, with a median home price of $1,069,000 (up 3 percent). In Truckee, the median price of a home rose 7 percent to $670,000 while volume and overall units were down 11 percent and 8 percent, respectively.
