South Lake Tahoe Median Sold Price Holding Steady since the first of the Year!
(Lake Tahoe Real Estate Blog / August 31, 2012 / Richard Bolen)
Is this the calm before the next home price rising storm? To be true, nobody knows, but South Lake Tahoe, CA median sold home prices have been steady since last December. That certainly does suggest a reasonable degree of market flattening over time.
A trend like this can in fact be a market bottom, and its certainly possible South Lake Tahoe home values could drop down again, but we have not seen such a sustained home price plateau since the market turned South back at the end of 2005.
What this means, and it's our hunch based on a lot of numbers crunching over time is, barring any new broadsides to the US economy, is South Lake Tahoe home values may be poised to start going up again.
If so, it will be slow and gradual we suspect, but as long as interest rates stay at the historic low rates they are today (around 3.5%), we are still a market offering resort home buyers a real opportunity.
The South Lake Tahoe, CA Median Sold Price:
The median sold price today is $226,000. This is based on all single family home sales in the last 180-days, not including the Tahoe Keys.
Based on exactly the same criteria, the median sold price was $220,000 on April 17, 2012. This is $6,000 lower than it is now.
On February 11 this year, again using the exact same criteria, the median sold price was $225,000, or a $1,000 less than it is now. Last December it was $231,500.
If the Tahoe Keys is included, the median sold price over the last 180-days is $235,550. It was $228,000 in mid April and $237,000 in December of last year.
The Chart Below:
All South Lake Tahoe, CA median sold prices since April 2007.
Some previous Lake Tahoe Real Estate Blog Posts:
Apr 19, 2012: Tracking South Lake Tahoe, CA Home Values
Feb 11, 2012: South Lake Tahoe Home Values Then and Now
Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days