Wednesday, July 30, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Tahoe home sales up an impressive 34 percent in 2012

By
From page C5 | January 11, 2013 |

Chase International

ZEPHYR COVE, Nev. — Home sales around Lake Tahoe increased substantially in 2012, with a 34 percent rise in units sold and a 40 percent jump in sales volume, according to a year-end report released by Lake Tahoe-based real estate company Chase International.

The report compares sales from 2012 to those of 2011 and noted increases in sales across the board with slight decreases in the median price. Tahoe City and Incline Village saw the biggest jumps in sales, with an impressive 77 and 62 percent increase in volume and 41 and 52 percent climbs in units sold, respectively. Incline Village, through Chase International, was also home to the sale of a $25-plus million estate, the largest sale in Lake Tahoe since January 2008.

The sale of million-dollar homes was up 59 percent around the lake, with South Shore reaping the biggest benefits with a 100 percent increase. Tahoe City experienced a 71 percent jump in homes sold for more than a million and Incline Village was not far behind with a 60 percent uptick. The East Shore climbed 19 percent.

“There was definitely more movement in the upper end of the market during the last quarter of the year, but we’re seeing a strong comeback in all areas,” said Sue Lowe, corporate vice president of Chase International. “When you look at annual numbers it’s clear that the market is strengthening in all price ranges and with inventory continuing to tighten, we expect average and median prices to continue to climb. Distress sales are also down substantially.”

Lake Tahoe is in sync with the national market. The National Association of Realtors recently reported that pending home sales increased for the third straight month in November and were at their highest level in two-and-a-half years. The pending home sales index is a forward-looking indicator based on contract signings, and on a year-to-year basis, sales have risen for 19 consecutive months.

“Even with market frictions related to the mortgage process, home contract activity continues to improve,” said Lawrence Yun, chief economist for NAR. “Home sales are recovering now based solely on fundamental demand and favorable affordability conditions.”

The median price of a home in Lake Tahoe is $315,000, down 6 percent from $334,600 in 2011, while the average price is up 5 percent to $636,898. Incline Village has the highest median home price ($704,000 with a 6 percent decrease) and South Shore had the lowest median home price ($245,525 with a 7 percent decrease).

The median price of a home in Truckee is $445,000 (up 2 percent) and the average price is $552,126 (down 2 percent). Sales volume was up 6 percent and units sold was up 8 percent over 2011 numbers.

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow, having added 65 Realtors to their ranks in the past 12 months.

With 240 professional Realtors boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels.  For more information about Chase International chaseinternational.com.

Comments

comments

Chase International

.

News

 
District 2 candidate statements tell of goals

By Dawn Hodson | From Page: A1

Sand Fire nears containment: 66 structures destroyed

By Cole Mayer | From Page: A1 | Gallery

 
Schedule for Highway 50 blasting closures

By News Release | From Page: A3

Tails wagging over dog park approval

By Julie Samrick | From Page: A3

 
Quarter-acre fire in Kelsey

By Rebecca Murphy | From Page: A3

.

Opinion

My Turn: Privatization of public services

By Mark Belden | From Page: A4

 
Policy book

By Mountain Democrat | From Page: A4

 
.

Letters

Large bangs

By Letters to the Editor | From Page: A5, 2 Comments

 
Private property gets no respect

By Letters to the Editor | From Page: A5

GDPUD management report

By Letters to the Editor | From Page: A5

 
District 2 supervisorial special election

By Letters to the Editor | From Page: A5, 2 Comments

Piano replaced

By Letters to the Editor | From Page: A5

 
Comments sign-in policy

By Letters to the Editor | From Page: A5, 1 Comment

Save the Guinea Worm

By Letters to the Editor | From Page: A5, 1 Comment

 
.

Sports

Sierra Sharks finish middle of the pack

By Democrat Staff | From Page: A8

 
Roundup: July 29, 2014

By Democrat Staff | From Page: A8

Taz pull through for SSL trophy

By Patty Pope | From Page: A8

 
Ex-Bruin lends a helping hand

By Steven Shaff | From Page: A8 | Gallery

.

Prospecting

Nuns discover a pleasant place

By Lexi Boeger | From Page: B1 | Gallery

 
Bargains can be found everywhere

By Democrat Staff | From Page: B2 | Gallery

At a glance: Game time

By Mimi Escabar | From Page: B2

 
Barbecue dinner to benefit Blue Star Moms

By Mount Aukum Winery | From Page: B2

Stagecoach story takes riders on a trip

By Wendy Schultz | From Page: B3

 
Help needed to make cool ties

By Sew 4 | From Page: B3

Stroke and osteoporosis screenings planned

By Life Line Screening | From Page: B3

 
Gold Rush Days activities cancelled this year

By Sacramento Convention And Visitors Center | From Page: B4

Master Food Preservers: Tomato time

By Monique Wilber | From Page: B4

 
Build an author platform at the Library

By El Dorado | From Page: B5

 
Sacramento area museums offer summer fun

By Sacramento Association Of Museums | From Page: B5

.

Essentials

Weather stats 7-29-14

By Michael Raffety | From Page: A2

 
Building permits 6/2-6/2014

By Michael Raffety | From Page: A2Comments are off for this post

Crime Log: July 17

By Cole Mayer | From Page: A2

 
.

Obituaries

Merlyn Wilbur Adams

By Contributor | From Page: A2

 
Lisa Oliver Rose

By Contributor | From Page: A2

Wallace Murrel Thomas

By Contributor | From Page: A2

 
.

Real Estate

.

Comics

.

Women’s Health

Love the skin you’re in

By Noel Stack | From Page: WH4

Dump stress and improve your health, productivity

By Wendy Schultz | From Page: WH7Comments are off for this post

Women’s Health Expo

By Marshall Medical | From Page: WH8

Find the confidence you need to fight back

By Special to the Democrat | From Page: WH12

Our choices directly affect our health

By Special to the Democrat | From Page: WH14

They’re NOT your mother’s hearing devices!

By Marshall Medical | From Page: WH17