We have just received the Lake Tahoe & Truckee real estate stats for 2010! These fabulous graphs compare real estate numbers from 2009 with 2010. Almost all numbers show an increase from last year!
Lake Tahoe Real Estate
The first set of graphs shows numbers for Lake Tahoe real estate. Sales volume for single family homes increased by 20% and condos increased by 48%. The number of units sold also increased for both single family homes (16%) and condos (46%) in 2010. The median price of single family homes decreased by 6% last year and the average price of single family homes increased by 1%. The median price of condos decreased by 9% and the average price increased by 4%.
Truckee Real Estate
The next set of charts shows numbers for Truckee Real Estate. Sales volume for single family homes saw no change and condos increased by 46%. The number of units sold also increased for both single family homes (5%) and condos (46%) in 2010. The median price of single family homes decreased by 8% last year and the average price of single family homes decreased by 4%. The median price of condos decreased by 9% and the average price stayed the same.
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.
Here is the press release that goes along with the recent year end stats for Lake Tahoe and Truckee:
TAHOE REAL ESTATE MARKET ENDS 2010 ON HIGH NOTE
LAKE TAHOE, Nev. (Jan. 4, 2011) – The Lake Tahoe real estate market ended the decade with strong sales and significant signs of improvement, according to a year-end report from Chase International. The report, which compares all sales and home prices from 2010 to those of 2009, indicated a 16 percent increase in units sold and a 20 percent jump in overall sales volume.
“This is a remarkable improvement from 2009,” said Susan Lowe, corporate broker and senior vice president for Chase International. “These numbers show the regional market stabilizing.”
Tahoe City showed the largest increase in sales with a 40 percent increase in total volume (dollars) and 17 percent rise in units sold. Incline Village saw a 27 percent jump in both units and volume. The median price of a home in Incline Village is $827,000, the highest in the basin, despite a ten percent drop from 2009. The median price of homes sold along Tahoe’s East Shore is $570,000, up five percent over 2009 and for South Shore, the median price remained steady compared to 2009 at $317,000. The overall median price of homes sold in Lake Tahoe is $541,000, down six percent, while the average price remained stable (with a one percent increase) at $897,173.
The National Association of Realtors notes that historically high housing affordability is boosting sales activity across the nation, indicating a gradual recovery into 2011.
“In addition to exceptional affordability conditions, steady improvements in the economy are helping bring buyers into the market,” said Lawrence Yun, chief economist for NAR. “But further gains are needed to reach normal levels of sales activity.”
The sales of condominiums around the lake are also up substantially with a 48 percent rise in sales volume and 46 percent jump in units sold.
Truckee condos were up 46 percent in both sales and volume. Home sales in Truckee remained relatively flat, with little movement in volume and a five percent increase in number of units sold. The average price of a home in Truckee is $627,093 (down four percent) and the median is $490,000 (down eight percent).
This last graph breaks down the sold properties in 2010 by price band. The areas included are Incline Village, East Shore Lake Tahoe, Tahoe City, South Lake Tahoe & Truckee. Click on the image below to view all graphs.