Lake Tahoe Real Estate Sales, Prices Dipped in Third Quarter

Lake TahoeBased on a quarterly report released this week by Lake Tahoe-based Chase International, Lake Tahoe home sales took a four percent dip in units sold in the third quarter, while prices fluctuated in sync with the rest of the nation.

The median price of a home in Lake Tahoe is $370,500, down ten percent from the third quarter of 2010. The average home price fell 11 percent to $630,984. The National Association of Realtors recently reported that the median price of a home in the West ($189,400) is down 13 percent from a year ago.

While sales and prices were down around the lake overall, East Shore saw a seven-percent increase in median home price ($575,000) and 51-percent jump in average price ($1,408,018). Volume sold was up 32 percent, while units sold were down nine percent.

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