There is always a lot going on in the beautiful Lake Tahoe. This time, our Member in the area Tahoe Luxury Properties has sent us some great figures about their market. And it seems 2014 will be a good year in Lake Tahoe property market.
« Keep an eye on the lakefront market where limited inventory is driving the median home price up drastically, with a 97% increase quarter-over-quarter »
Maintaining the trends Tahoe Luxury Properties reported in the 2013 year-end summary, the median single-family home price continues to rise in all the Tahoe area markets. Five of the six markets show a decrease in units sold quarter-over-quarter, likely related to the abnormally low snowfall to the region impacting area visitation and the low inventory of active listings. Given the healthy appreciation in home price sales, we expect to see solid gains throughout 2014.
“Keep an eye on the lakefront market where limited inventory is driving the median home price up drastically, with a 97% increase quarter-over-quarter. As ski communities bounce back from a weather-affected quarter, we will expect market growth in summer months,” predicts Bill Dietz, President of Real Estate Sales.
In addition to the Q1 numbers, four additional lakefront properties went into escrow in the month of March, indicating a strong growth. To date, 2014 is trending to be a high-performing year. Below is the evolution of lakefront homes in Lake Tahoe since last year:
You may find complete information in the detailed Lake Tahoe Q1 2014 Market Report, available for download.
