We have just received the real estate stats for the first quarter of 2012. These graphs compare real estate numbers for the first quarter in 2012 to 2011. Many numbers are seeing a positive upswing and this could be the beginning of a market rebound! The first graph represents numbers for Lake Tahoe and the second shows numbers for Ski Resort Areas – Alpine Meadows, Squaw Valley and Northstar. The third graph shows sales by price banding for the different areas – Incline Village, East Shore Lake Tahoe, Tahoe City, South Lake Tahoe, Sparks, Reno, Truckee and Carson Valley.

Here is the press release from our broker:

Chase International Reports
Market Beginning to Rebound
~Significant Improvement seen in lower-segment of Tahoe market~

 Zephyr Cove, Nev. (April 9, 2012) – First quarter home sales at Lake Tahoe show an improved market compared to last year’s numbers for the same period, according to a quarterly report released by Lake Tahoe-based real estate firm Chase International.  One noticeable and positive statistic was an impressive 15 percent increase in units sold around the lake, with the lower end of the market jumping 18 percent.

“The inventory in the lower segment of the market is disappearing around the lake,” said Susan Lowe, corporate vice president for Chase International.  “Even though the average and median price has gone down from the first quarter last year (which saw many lakefront sales during that 2011 period and which we have not seen this year), the market is showing signs of recovery because the supply is vanishing.”

The Chase International 2012 first quarter report also shows dips around the lake overall in regard to sales prices from one year ago, which is reflected by the median price of a home in Lake Tahoe which is now $317,000 and the average home price which is $623,645, down 25 percent and 31 percent respectively.

Truckee is showing signs of recovery overall but especially for real estate sales over the $1 million mark.  Specifically, the Truckee market stats report a whopping 175-percent increase in units sold over $1 million from four sales at this time last year, to a notable 11 sales this year.

The condominium market around Lake Tahoe experienced declines for all segments of the Tahoe market.  The number of total condo units sold was down 18 percent.  Average prices are down 35 percent and the media price is down 7 percent.

Here is the press release from our broker:

Tahoe Home Sales Stats Holding Steady

 Zephyr Cove, Nev. (Jan. 5, 2012) – Year-end home sales at Lake Tahoe are holding steady compared to 2010 with some indicators on the rise, according to a quarterly report released by Lake Tahoe-based real estate firm Chase International, which notes a one-percent increase in units sold around the lake.

The National Association of Realtors recently reported that existing home sales rose again in November and remain above a year ago, and the latest Tahoe housing market sales figures concur with this national trend.  In fact, while real estate sales and prices took a slight dip around the lake overall, the East Shore market segment saw a one-percent increase in median home price ($575,000) and a 35-percent jump in average price ($1,286,924). Volume sold on the East Shore was up 26 percent, while the number of units was down seven percent.

Although the number of units sold is up slightly, the median price of a home in Lake Tahoe is down thirteen percent to $365,000 from 2010’s year-end numbers. The average home price fell 14 percent to $607,683.

“High end home sales on the East Shore helped buoy the Lake Tahoe market,” said Susan Lowe, corporate vice president for Chase International. “It definitely is still a buyers’ market as average and median prices have continued to fall but with units sold rising we believe the market is strengthening.”

Truckee reflects this same trend, seeing a two-percent increase in units sold and a 17-percent rise in units sold for less than a million. The median price of a home in Truckee is $438,166 (down 10 percent) and the average price is $562,811 (also down 10 percent).

The condominium market around Lake Tahoe experienced a six-percent decline over 2010 in units sold.  However, for units sold for more than $500,000, a notable 29 percent jump occurred. Tahoe City experienced the most pronounced increase in sales over 2010 sales figures, with a three-percent rise in units sold and up 50-percent in units sold for over $500,000.  South Lake Tahoe saw a 21-percent increase in overall volume sold, with median and average prices rising 14 and 69 percent, respectively. The median price of a condo in Lake Tahoe is $262,000 (down eight percent) and the average price is $348,868 (down 12 percent).

Here is the press release from our broker:

Tahoe Home Prices Stay in Step With Rest of U.S.

Zephyr Cove, Nev. (Oct. 11, 2011) – Home sales around Lake Tahoe took a small dip in the third quarter, while prices fluctuated in sync with the rest of the nation. The figures, part of a quarterly report released by Lake Tahoe-based real estate company Chase International, noted a four-percent decrease in units sold around the lake.

The median price of a home in Lake Tahoe is $370,500, down ten percent from the third quarter of 2010. The average home price fell 11 percent to $630,984. The National Association of Realtors recently reported that the median price of a home in the West ($189,400) is down 13 percent from a year ago.

While sales and prices were down around the lake overall, East Shore saw a seven-percent increase in median home price ($575,000) and 51-percent jump in average price ($1,408,018). Volume sold was up 32 percent, while units sold were down nine percent.

“We are starting to see the return of the high-end buyer with especially the East Shore experiencing some substantial high-end sales,” said Sue Lowe, corporate vice president for Chase International. “With the increase of high-end sales, we are anticipating a boost in end-of-year numbers.”

Truckee experienced some stabilization from this time last year, seeing a 16-percent increase in units sold and a 21-percent bump in units sold for less than a million. The median price of a home in Truckee is $435,000 (down 12 percent) and the average price is $554,744 (also down 12 percent).

The condominium market fared somewhat better around Lake Tahoe with a four-percent rise in units sold and 43-percent increase in units sold for more than $500,000. Tahoe City experienced the biggest jump in sales, with a 35-percent rise in units sold and up 52-percent in units sold for less than $500,000.  South Lake Tahoe saw a 32-percent increase in overall volume sold, with median and average prices rising 36 and 32 percent, respectively. The median price of a condo in Lake Tahoe is $274,400 (down five percent) and the average price is $353,136 (down four percent).

Here is the press release from our broker:

Tahoe Home Prices See Slight Increase

LAKE TAHOE, Nev. (July 6, 2011) – Median home prices in Lake Tahoe stayed relatively flat throughout Lake Tahoe, with substantial increases in East Shore prices, according to a midyear report released by Lake Tahoe-based Chase International.

The median price of a single-family home in Lake Tahoe is up two percent to $540,375 and the average price is up nine percent to $962,705. Those numbers were boosted by a 20 percent increase in median home price on the East Shore ($625,500) and a 67 percent increase in average price ($1,565,642). The report compares home prices and sales from January 1 through June 30, 2011 to the same time period of 2010. Overall sales volume in Lake Tahoe was down nine percent and units sold dipped four percent.

“We had some strong sales and increases the first quarter but saw a decline in the second quarter of this year,” said Sue Lowe, corporate vice president for Chase International. “I think we are still bouncing around the bottom of the market.”

Tahoe City saw a three percent increase in median home price ($475,000) and a 15 percent drop in average price ($681,634), caused mostly by a seven percent boost in sales of homes over a million and a 27 percent drop in homes sold for less than a million.

Average and median prices were down in both South Shore (ten and 12 percent, respectively) and Incline Village (11 and five percent). Sales of million-dollar homes were down in all areas of Lake Tahoe, except the East Shore, which experienced a 71 percent jump in sales of more $1 million.

Condo sales around the lake were up nine (volume) and 13 (units) percent, with Incline Village seeing the biggest jump in units selling for more than $500,000. Tahoe City experienced a 136 percent increase in units sold for less than $500,000.

The average price of a home in Truckee is down 13 percent to $534,313 and the median is down 14 percent to $433,000. Sales volume was down nine percent but units sold was up four percent, reflecting a nine percent increase in homes sold for less than a million and a 33 percent decline in homes sold for more than a million.

Lake Tahoe Real Estate

The first set of graphs shows numbers for Lake Tahoe real estate in 2011 compared to last year. Almost all numbers increased this year compared to 2010. Sales volume for single family homes increased by 23% and condos increased by 7%. The number of units sold also increased for both single family homes (6%) and condos (12%). The median price of single family homes increased by 11% and the average price of single family homes increased by 29%. The median price of condos increased by 15% and the average price decreased by 6%.

Lake Tahoe Real Estate Sales by Area & Price

The next set of graphs show Lake Tahoe real estate sales by areas and price. The areas include Incline Village, East Shore, Tahoe City, South Lake Tahoe, Sparks, Reno and Truckee.

Positive Upswing in Tahoe Real Estate

Most of the numbers show some positive turns in the Lake Tahoe real estate market! Click on the images below for enlarged versions and more details for these real estate numbers. Contact Linda Granger or call 530.624.0008 for a tour of Lake Tahoe homes for sale.

2011 Compared to 2010

Price Banding & Areas

Here is the press release in connection with the 1st quarter stats:

LAKE TAHOE SEES JUMP IN AVERAGE HOME PRICE

LAKE TAHOE, Nev. (Apr. 6, 2011) – Homes around Lake Tahoe experienced a 29 percent jump in average price, according to a quarterly report released by Chase International real estate. The figures compare sales and home prices from first quarter 2011 to first quarter 2010.

The average price of a home in Lake Tahoe rose to $937,501 and the median is $564,500 (an 11 percent drop). Sales volume is up 23 percent and units sold is up six percent.

“The Lake Tahoe market is showing definite signs of stabilization,” said Sue Lowe, corporate vice president for Chase International. “Our last two quarterly reports have shown vast improvement in sales volume and units sold in the Tahoe Basin”

The National Association of Realtors® reported a 2.1 percent increase in pending home sales last week. “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines,” said Lawrence Yun, chief economist for NAR. “Contract activity is now 20 percent above the low point immediately following expiration of the home buyer tax credit.”

Tahoe City saw an increase in sales volume and units sold (31 and nine percent, respectively). South Lake Tahoe experienced an 11 percent jump in units sold and 12 percent in sales volume. The East Shore had a 25 percent increase in sales volume and a 5 percent drop in units sold. Incline Village saw a 28 percent increase in sales volume and a 10 percent decrease in units sold.

The average price of a home in Truckee fell 19 percent to $504,337 while the median dropped 14 percent to $439,000. Sales volume is down 11 percent and units sold are up 11 percent.  Condos in Truckee were down across the board with a 45% decrease in sales volume and a 44% decrease in units sold.

The average price of a condo in Lake Tahoe is $356,451 (down six percent), while the median price is up 15 percent. Sales volume is up seven percent with a 12 percent increase in units sold.