East Shore real estate market outperforms rest of basin
By Jason Hidalgo, Reno Gazette-Journal
The East Shore continued to outperform the rest of the Lake Tahoe real estate market, which saw home values fall overall during the third quarter.
The median price for a single-family home in Lake Tahoe fell 10 percent to $370,500 from July to September, according to Chase International’s latest housing report. Average price also fell to $630,984 —an 11 percent drop. Unit sales fell by 4 percent to 712 units.
One bright spot was the East Shore, which continued its positive pace from the second quarter. The median price for an East Shore home in the third quarter was $575,000, up 7 percent from the previous quarter. East Shore also posted a 51 percent jump in average price to $1.4 million.
This could be a reflection of the change to more conservative government on the part of NV.
The tail of two states of mind. Conservative NV and liberal CA
Over the next few years buying property in CA has much more risk as the state continues down the path to failure.
The blooms come off that rose bush.
El Dorado county had a yr over yr decline in the median sales price of -16 percent. The worst of the four CA counties in the region. Plus according to Dataquick there has been a 78 percent increase in
foreclosure notices in the CA Sacto market. That is likely to lead to more value declines and more people walking away from the bottomless pit.
CA you had soooo much going for you and this is what you’ve done.
The crony capital of the nation, what would you expect?
I would think East shore values go up because of the homes in Glenbrook….put one $4m or $5m home on the market and the figures get skewed. Would happen if Glenbrook was in CA too Pub.
30yrlocal
Glenbrook is not in California.
We’ll just have to see as time goes by if my theory holds out. I have made the projection in these posts before and stand by it. Evidence continues to mount in support of my theory.
In fact I am doing a video documentry on the subject. I call it…
A Tale of Two Stares of Mind.
Article says- The median price of a tahoe home fell 10 percent in three months?
You have got to be kidding!
Is that a typo?