(Lake Tahoe Real Estate Blog / June 12, 2011 / Richard Bolen)
South Lake Tahoe neighborhood home values: Lakefront Properties prices off 10% over last year, and down 26% off Lakefront Properties market high of 2007.
We though it would be interesting to track South Lake Tahoe, NV neighborhood home values over time with this visual. As the chart above indicates, here are the median sold prices for Lakefront Properties since 2004.
We think its important to note that "Lakefront Properties" is not a neighborhood per se; it is a designation within our multiple listing service that identifies homes and estates that are on the lake, and this MLS category spans Nevada neighborhoods from Glenbrook to Elk Point. Map of all 10 of these neighborhoods here.)
Lakefront Properties Housing Values :
Luxury home lake front estate values this year to date are 10.6% lower ($487,500) than they were for all of 2010 (based on the only four luxury home lake front estate sales to date). Even better news for home buyers who might be thinking in taking advantage of better prices, and historic low interest rates: Lakefront Properties home values are $1,237,500 lower, or 26.3% off what they were at the market high for Lakefront Properties in 2007.
Compared to the median sold price of all South Lake Tahoe, NV (aka "Stateline, NV") home sales this year, the median sold price of luxury home lake front estates is $3,517,500 higher, or 591.2% over the current 2011 median sold price of Nevada neighborhoods combined ($595,000). This difference makes sense when comparing the highest luxury home values to the median sold price of all South Lake Tahoe, NV neighborhoods combined.
Lakefront Properties Housing Demand :
The chart above indicates housing demand, or the number of luxury lake front homes sold by year since 2004. Note that as of today the number of these luxury lake front homes sold this year is 80% of the demand for all of last year. What this indicates is 2011 luxury home lake front estates demand in 2011 will probably exceed that of 2010.
Fly in to Lakefront Properties, here
Previous Lake Tahoe Real Estate Blog posts:
May 21, 2011: Lakefront Properties homes for sale update
Oct 15, 2010: Lakefront Properties real estate listings update
Feb 6, 2010: Lakefront Properties homes for sale update
Jul 15, 2009: Lakefront Properties real estate update
Apr 3, 2009: Lakefront Properties listings update
Aug 8, 2008: Lakefront Properties homes for sale update
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