South Lake Tahoe had an 18% decline in the number of residential homes sold in the first quarter of 2019. I reckon the 15% increase in the median sales price to $550,000 had something to do with it. How much longer can the upward trend continue? It’s any bodies guess really. Some speak of an over sold stock market. I’d expect real estate to benefit if a sell off scenario occurs. Mortgage delinquencies are still low so no worries there.
South Lake Tahoe condominium sales volume declined 68% from last year. The number of units sold also declined by 45%. So how much did the median sales price decline? – by 27%. Just know that those in the lower price ranges are the ones currently selling their residences.
Have a nice weekend! For further information contact Robert Stiles, Realtor® of Chase International at 530-314-0352 or RStiles@ChaseInternational.com. RealEstateLakeTahoeStiles.com DRE 01279125