(Lake Tahoe Real Estate Blog / May 28, 2011 / Richard Bolen)
South Lake Tahoe neighborhood home values: Montgomery Estates prices off 20.9% over last year, and 39.6% off Montgomery Estates market high of 2006.
We though it would be interesting to track South Lake Tahoe, CA neighborhood home values over time with this visual. As the chart above indicates, here are the median sold prices for the Montgomery Estates neighborhood since 2003.
Montgomery Estates Housing Values :
Home values this year to date are 20.9% lower ($104,000) than they were for all of 2010, and even better news for home buyers who might be thinking in taking advantage of better prices, and historic low interest rates: Montgomery Estates home values are 39.6% lower ($257,500 off) than they were at the market high for Montgomery Estates in 2006.
Compared to the median sold price of all South Lake Tahoe, CA home sales this year, the Montgomery Estates median sold price is $115,000 higher, or 41.4% over the current 2011 median sold price of South Lake Tahoe neighborhoods combined ($277,500). This difference makes sense when comparing a high-end luxury home neighborhood to the median sold price of all South Lake Tahoe neighborhoods combined.
Montgomery Estates Housing Demand :
The chart above indicates housing demand, or the number of homes sold in Montgomery Estates by year since 2003. Note that as of today the number of Montgomery Estates homes sold this year is a wee less than 40% of what Montgomery Estates demand for all of last year. What this indicates is likely little change in demand in Montgomery Estates sales in 2011 over 2010.
What we think is encouraging about overall South Lake Tahoe, CA 2010 demand is it was higher than any other year since the market high in 2005.
Fly in to Montgomery Estates, here
Our videos about Montgomery Estates, here
We hope you find some of these previous Lake Tahoe Real Estate Blog posts helpful:
Jan 16, 2011: Montgomery Estates home sales and values update
Oct 11, 2010: Montgomery Estates real estate listings update
Jul 31, 2010: Montgomery Estates homes for sale update
Jan 28, 2010: South Lake Tahoe Listings Update: Montgomery Estates
Sep 22, 2009: South Lake Tahoe Listings Update: Montgomery Estates
Oct 16, 2008: The Current State of the South Lake Tahoe Real Estate Market
Nov 25, 2007: South Lake Tahoe Real Estate Listings Update: Montgomery Estates
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