"Lake Tahoe home sales in the third quarter marks the first time in more than three years that there’s been steady increases in all areas around the lake, according to the Chase report.
Sales volume around the lake was up 20 percent and the median price of a home increased 12 percent to $540,000.
“The numbers are very encouraging,” Lowe said. “There’s generally always some fluctuation or decline somewhere on the lake, but sales have remained consistently strong over the summer.”
The median price of a home in Tahoe City rose 5 percent to $580,000 while on the East Shore it rose 6 percent to $1.18 million.
Homes selling for more than $1 million had the largest impact on sales, with every region on the lake seeing substantial increases, the largest being on the South Shore (62 percent) and Incline Village (55 percent).
The only two stats to see any declines were homes selling for less than a million in Tahoe City (down 4 percent) and Incline Village (down 1 percent).
South Lake Tahoe saw the largest increase in median and average home prices, up 13 and 14 percent to $405,000 and $496,984 respectively. The area is still the least expensive place to buy a home."
Link to Northern Nevada Weekly complete article: Recent reports on home sales in northwestern Nevada remain strong | nnbw.com:
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