|Lake Tahoe Real Estate||January 20, 2011|
Median home price has fallen over 2011, mainly due to the fact that the majority of the homes that sold were the lower end of the market. Does this mean we are in a declining market? Not necessarily, another important stat to reference is the amount of inventory on the market, which is quite low compared to the flood of inventory in 2009. Short sales have been on the rise, and foreclosures have been on the decline, meaning we still have distressed property, and Realtors have been more successful in saving homes from foreclosure through successful short selling.
Low inventory and low prices shouldn’t last long, so if you are a buyer on the fence, time to jump in and grab a low interest rate. If you are a seller, keep in mind that the inventory is low, which means less competition in selling your home. The good news is, that the Tahoe market is looking much healthier.
Source: South Tahoe Association of Realtors MLS Data