Tahoe Home Sales Remain Robust for Summer
Incline Village and Truckee Lead the way
Truckee, CA (July 6, 2016) – Home prices remain essentially unchanged for the first half of the year, while the sale of homes above $1 million was up significantly (30 percent), primarily a result of strong sales in Incline Village and Truckee.
The latest numbers are part of a report released by Chase International Real Estate comparing all MLS sales from January 1- June 30 of this year to those of the same timeframe in 2015. Sales volume around the lake rose an impressive 13 percent while units sold were up 12 percent.
Incline Village, Truckee, and the South Shore saw the bulk of the movement. South Shore saw a 22 percent increase in units sold across the board. Total volume sold in South Shore was up 33 percent. The average price of a home in South Lake Tahoe is $499,877 and the median is $414,000 (up nine and seven percent, respectively).
Sales volume in Incline was up 34 percent and units sold up 26 percent. Homes selling for more than a $1 million leapt 59 percent. The average price of a home in Incline is $1.37 million (a six percent increase) and the median is $995,000 (up 17 percent).
Regional sales have remained primarily on par with national trends, with the buyers taking advantage of low mortgage rates.
"This spring's sustained period of ultra-low mortgage rates has certainly been a worthy incentive to buy a home, but the primary driver in the increase in sales is more homeowners realizing the equity they've accumulated in recent years and finally deciding to trade-up or downsize," said Lawrence Yun, chief economist for the National Association of Realtors.
Truckee saw a whopping 68 percent increase in volume sold, thanks to a 158-percent rise in homes selling for more than $1 million. The average price of a home in Truckee is $1.05 million (up 31 percent) and the median price is $629,500 (up 15 percent).
About Chase International & Tilly Mezger: With 10 offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe, Carson Valley, Sparks and Reno), Chase International and its exclusive affiliations handle a large share of the area’s home sales. With 385 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Tilly Mezger has been a top producing Realtor for many years/ For more information and to contact Tilly Mezger, please call (530) 545-0587 or email her at email@example.com. Please also visit www.tahoeluxuryrealestategroup.com.