(Lake Tahoe Real Estate Blog / June 19, 2011 / Richard Bolen)
South Lake Tahoe neighborhood luxury home values: Glenbrook prices off 35% from last year, and down 135% off Glenbrook 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 the Glenbrook luxury home neighborhood since 2004.
Glenbrook Luxury Home Values :
Glenbrook home values are 35.7% lower ($910,360) than they were for 2010. It should be noted that this data is based on only five luxury home sales. This is even much better news for home buyers who might be thinking in taking advantage of better prices and historic low interest rates: Glenbrook home values are $3,460,500 lower, or 135.7% less than what they were at the market high in 2007.
Compared to the median sold price of all South Lake Tahoe, NV (aka "Stateline, NV") home sales this year, the Glenbrook median sold price this year is $1,064,000 higher, or 185.2% above the current 2011 median sold price of Nevada neighborhoods combined ($575,000). This difference makes sense when comparing a luxury home neighborhood to the median sold price of all South Lake Tahoe, NV neighborhoods combined.
Glenbrook Lucury Home Demand :
Glenbrook is a luxury home and estate neighborhood on the NV side of South Lake Tahoe. There are some 300 or so luxury homes here. The chart above indicates the number of homes sold in Glenbrook by year since 2004. Note that five luxury homes have sold to date this year, which already exceeds last year's demand. What this indicates is Glenbrook luxury home demand in 2011 will likely exceed that of all years since 2004, with the exception of the 13 luxury home sales recorded in 2005.
Fly in to Glenbrook, here
Some previous Lake Tahoe Real Estate Blog posts about Glenbrook:
Oct 16, 2010: Glenbrook luxury homes for sale update
Feb 2, 2010: Glenbrook homes for sale activity
Aug 14, 2009: Glenbrook real estate update
Feb 8, 2009: Glenbrook home listings update
Aug 9, 2008: Glenbrook homes for sale activity
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