ZEPHYR COVE, NV - After a long winter, the first six months show a slow down for the Lake Tahoe real estate market. The area saw a 20 percent decline in volume sold and a 12 percent decline in units sold. The median price was up by two percent and sales over one million dollars were down by five percent. The number of homes sold for under one million dollars declined by 15 percent.
These figures are part of a quarterly report released by Lake-Tahoe-based real estate agency, Chase International. The data compares all MLS homes sales from January 1, 2019 through June 30, 2019 to the same timeframe in 2018.
Home sales for over one million were up in South Shore by 11 percent and up on the East Shore by 13 percent. Incline saw a decrease of six percent and Tahoe City a decline of 24 percent.
Condo sales were down across the board with a 20 percent decrease in volume sold, 14 percent in units sold and seven percent in median price. The East Shore was the only community to see an increase in median price to $451,000, up 17 percent.
“The heavy winter slowed sales around the basin,” said Susan Lowe, corporate vice president of Chase International. “We are seeing an uptick in interest and offers which should result in a strong second half of the year.”
Sales also softened in the Truckee market with a 17% decline in volume sold, 13 percent decline in units sold and four percent increase in median price. The sales over one million dollars were down by 21 percent.
About Chase International
Headquartered in Lake Tahoe, Nevada since 1986, with nine offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Truckee, South Lake Tahoe, Carson Valley, Sparks and Reno) and a public relations office in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With over 350 professional Realtors®, Chase’s agents boast an array of industry certifications and the highest volume per sales agent in the area. With a heart-centered approach to their business, Chase International successfully represents homes at all price levels. For more information about Chase International, visit ChaseInternational.com.