(Lake Tahoe Real Estate Blog / May 31, 2011 / Richard Bolen)
South Lake Tahoe neighborhood home values: The Y Area prices 16.3% lower this year than last year, and 53.8% off The Y Area market high of 2007.
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 Y Area neighborhood since 2003.
The Y Area Housing Values :
Home values this year to date are 16.3% lower ($35,000 off) than they were for all of 2010. Even better news for home buyers who might be thinking in taking advantage of better prices, and historic low interest rates: The Y Area home values are $200,000, or 53.8% lower than they were at the market high for the The Y Area neighborhood in 2007.
Compared to the median sold price of all South Lake Tahoe, CA home sales this year, the Y Area median sold price is $97,500 lower, or 35.1% under the current 2011 median sold price of South Lake Tahoe neighborhoods combined ($277,500). This difference makes sense when comparing a market entry neighborhood to the median sold price of all South Lake Tahoe neighborhoods combined.
The Y Area Housing Demand :
The chart above indicates housing demand, or the number of homes sold in The Y Area by year since 2003. Note that as of today about half as many of Y Area homes have sold this year as last year. What this indicates is 2011 Y Area housing demand will likely be likely more than that of 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 The Y Area, here
Our videos about The Y Area, here
We hope you find some of these previous Lake Tahoe Real Estate Blog posts helpful:
Jan 13, 2011: Y Area real estate homes for sale update
Dec 13, 2010: Y Area homes for sale update
Oct 10, 2010: South Lake Tahoe Homes for Sale: Y Area (CA)
Feb 1, 2010: Y Area Real Estate Update
Dec 4, 2009: Y Area Real Estate Update
Sep 16, 2009: Y Area Real Estate Listings Activity
Aug 2, 2008: Y Area Real Estate Update
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