(Lake Tahoe Real Estate Blog / June 7th, 2011 / Richard Bolen)
South Lake Tahoe neighborhood home values: Upper Kingsbury prices up 25% over last year, but 18.6% off Upper Kingsbury market high of 2005.
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 Upper Kingsbury neighborhood since 2003.
Upper Kingsbury Housing Values :
Home values this year to date are 25% higher ($105,000) than they were for all of 2010 (based on the only two sales to date). Better news for home buyers who might be thinking in taking advantage of better prices, and historic low interest rates: Upper Kingsbury home values are $120,000 lower, or 18.5% off what they were at the market high for Upper Kingsbury in 2005.
Compared to the median sold price of all South Lake Tahoe, NV (aka "Stateline, NV") home sales this year, the Upper Kingsbury median sold price is $70,000 lower, or 11.8% below the current 2011 median sold price of Nevada neighborhoods combined ($595,000). This difference makes sense when comparing a neighborhood with many market entry homes to the median sold price of all South Lake Tahoe neighborhoods combined.
Upper Kingsbury Housing Demand :
The chart above indicates housing demand, or the number of homes sold in Upper Kingsbury by year since 2003. Note that as of today the number of Upper Kingsbury homes sold this year is 15.4% of what Upper Kingsbury demand was for all of last year. What this indicates is Upper Kingsbury housing demand in 2011 may be less than what it was in 2010.
Fly in to Upper Kingsbury, here
We hope you find some of these previous Lake Tahoe Real Estate Blog posts helpful:
Oct 15, 2010: Upper Kingsbury real estate home sales update
Jul 12, 2010: Upper Kingsbury homes for sale update
Feb 2, 2010: South Lake Tahoe Listings Update: Upper Kingsbury
Dec 24, 2009: Upper Kingsbury Listings Update
Aug 13, 2009: Upper Kingsbury Sales and Listings Update
Jun 6, 2008: Upper Kingsbury Real Estate Update
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