South Lake Tahoe Real Estate Market is Very Strong in 2016

South Lake Tahoe Real Estate Market is Very Strong in 2016.  My company, Chase International Realty just released the third quarter market report.  In the first three quarters of the year so far compared to last year we are up 25% in sales volume.  The average price on single family homes is now $496,984 which is up 12% over last year which was $434,642.  Remember each market is unique and no matter what the media is saying our market continues to show signs of strength.

Just as the Aspens change colors the market continues to change and we have been in a positive growth patter now for over 3 years.  Speaking of the Aspens I hope all of you have had a chance to come to the mountains to view the colors on the trees.  The best places I have seen are Luther Pass and Carson pass.

Here are the stats so you can view them.  2016-3rdquarter-stats_slt

The strong real estate market is both good for buyers and sellers.  I feel the main driving factor of this strength is that Lake Tahoe is such a recreational dream place and we are surrounded by millions of people who can easily access the area.  Also the strong job market in the Bay Area and the continuation of low interest rates (Feds don’t seem to be in a hurry here).  Will the market keep appreciating in 2017?  My prediction is we will see the same appreciation next year especially if we have a strong winter season.

Year after year I am noticing that condo sales are relatively flat here in South Lake Tahoe and around the Lake Tahoe Region.  Most people want a single family home so they don’t have to worry about an hoa.  There are a few condo projects that do well:  Lakeland Village and the Tahoe Keys-both are waterfront developments.  The new condo project called Zalanta could be a good one since it is right across the street from the Heavenly Ski Resort Gondola.  Location is everything here if you want to party, gamble and ski all within walking distance.

Here it is in mid-October and the market is still very active with alot of buyers hoping to purchase and be settled prior to winter.  Well it snowed last night for the second time so time is running out.  Try and come up to Tahoe now and take a look-I would be happy to start sending you new listings so you can watch the market.  South Lake Tahoe Real Estate Market is Very Strong in 2016 and come get a piece of it.

Jennifer Fortune, jfortune@chaseinternational.com  530-318-9286