OUR  MARKET

In a survey of millions of users, TripAdvisor.com named Lake Tahoe tops among United States vacation destinations, and 10th overall worldwide. "Whether it's the unique beauty or abundance of attractions, the 2008 Travelers' Choice Destinations Awards honor the most beloved destinations from around the world," said Michele Perry, vice president of global communications for TripAdvisor.

We constantly hear talk in the media about the woes in real estate market and the mortgage meltdown, but for the most part the picture is painted with a broad brush, often reflecting national or state perspective. Real Estate is local and despite our perception of the grim situation - every market is different. According to the National Association of Realtors One-third of the homes sold in 2007 were to second-home buyers and investment properties. The Lake Tahoe basin falls into that category.

Second homes make up a significant portion of the overall housing market, accounting for more than one-third of all residential transactions in 2007. This is especially true in resort areas such as Lake Tahoe. Locally, over 75% of Lake Tahoe homes are owned by absentee owners - purchased as vacation retreats, retirement homes or investment properties.

HOME PRICES:

Lake Tahoe property is still a bargain compared to other destination resorts. The average sold price in Aspen, CO in Sept. 2007 was $4,219,872. In Park City Utah average sold price in Sept. 2007 was $1,091,407. In Vail, CO the average sold price in Sept. 2007 was $1,441,766. Lake Tahoe real estate is still a bargain when compared to California as whole, The median price of an existing, single-family detached home in California during March 2008 was $$413,980 according to the California Association of Realtors®.

Market Statistics

As of June 7, 2008

SINGLE FAMILY HOMES

445 active single-family home listings were available 6/7/08. Price range: $189,000 to $7,950,000. Rooms: studio, 3/4 bath to 7 bedrooms, 4 baths. Sizes range: 225 sq. ft. to 7,339 sq. ft. of living space. Average Days on Market: 154. The median price of all active listings is $569,000.

122 single-family home sold between 1/01/08 and 6/07/08. Sold price range: $145,000 to $1,550,000. Rooms: studio, 1 bath to 6 bedrooms, 4 baths. Size range: 520– 4,278 sq. ft. Average Days on Market: 167. The median sales price of all active listings is $398,000.

CONDOS/TOWNHOMES

67 condos/town homes are currently available. Price range: $150,000 to $2,450,000. Rooms: studio, 1 bath to 4 bedrooms, 3 baths. Average Days on Market: 161. The median price of these active listings is $368,888.

12 condos/townhomes were sold from 1/01/08 and 6/07/08. Price range: $150,000 to $530,000. Rooms: studio, 1 bath to 3 bedrooms, 2.5 baths. Size range: 448 – 1,736 sq. ft. Average Days on Market: 192. The median sales price of these listings is $265,500.

MULTI-FAMILY

32 multi-family duplex, triplex or fourplex properties are currently available. Size range from 800 sq. ft. to 4,444 sq. ft. Price range: $224,900 to $1,499,000. Average Days on Market: 288.

LAND

147 parcels are currently available, as vacant land. Price range: $75,000 to $1,800,000. Size ranges: .103 acre to 33 acres. Average Days on Market: 246.

Sold Market Comparison

Residential - single family and condo/townhome sales

2007

Single Family

Average Price: $570,378

Median Price: $440,000.

2.8% increase over average price in 2006

7.4% decrease over median price in 2006

Condos/Townhomes

Average Price: $404,344

Median Price: $340,000

30.4% decrease over average price in 2006

12.5% decrease over median price in 2006

Residential - single family and condo/townhome sales

2006

Single Family

Average Price: $554,550

Median Price: $475,000.

2% decrease over average price in 2005

0% increase/decrease over median price in 2005

Condos/Townhomes

Average Price: $580,722

Median Price: $389,000

55% increase over average price in 2005

11% increase over median price in 2005

2005

Single Family

Average Price: $565,682

Median Price: $475,000.

2% decrease over average price in 2004

25% increase over median price in 2004

Condos/Townhomes

Average Price: $374,800

Median Price: $350,000

11.6% increase over average price in 2004

25% increase over median price in 2004

2004

Single Family

Average Price: $447,872

Median Price:  $380,000

18.3% increase over average price in 2003

17.4% increase over median price in 2003

Condos/Townhomes

Average Price: $335,806

Median Price: $280,000

39.4% increase over average price in 2003

40% increase over median price in 2003

2003

Single Family

Average Price: $377,154

Median Price: $323,500

9.3% increase in average price over 2002

17.6% increase over median price in 2002

Condos/Townhomes

Average Price:

Median Price:

6.6% increase over average price in 2002

10.7% increase over median price in 2002

2002

Single Family

Average Price: $345,148

Median Price: $275,000

Condos/Townhomes

Average Price: $223,563

Median Price: $179,500

For statistics by neighborhood, please call us at: 800.577.4048 or send an email request.

A desirable location and quality of life contribute to high demand while low inventory and limited development due to environmental restrictions leads to a limited supply. It is likely over the next decade that home sales in Lake Tahoe will remain robust with probable continued price appreciation.

Location:

The key to any good real estate investment is location.

Close to San Francisco Bay Area and Sacramento (one of the fastest growing areas in California), Lake Tahoe makes an accessible choice for a vacation retreat, retirement home or investment property. Our proximity to the high tech industries of the Silicon Valley offer many vacation homeowners the opportunity to telecommute part time from their vacation homes. Easy drives from Sacramento and Reno make it a popular weekend spot.

Recreation:

The Tahoe basin enjoys status as one of the finest year-round recreation areas in the world. Visitors come to experience the best in year-round outdoor activities including world-class skiing and boarding, snowmobiling, boating, golf, hiking and mountain biking. Some come to try their hand at gaming and tempt "lady luck" or to enjoy the nightlife.

Lifestyle:

Match your destination to your lifestyle. Changing priorities have made quality of life increasingly important. Buyers are increasingly looking for a place to escape on the weekends while looking for a solitude and relaxation?

Spectacular scenery:

Lake Tahoe attracts millions of travelers a year because it offers the best of both winter and summer climates.

Visitors continue to be awestruck by the grandeur and beauty of one of the most spectacular mountain lakes in the world. Like travelers before them, present day vacationers flock to Lake Tahoe's shores, many vying to make a piece of this paradise their own. With awe-inspiring beauty and a multitude of selections for vacation homes and rentals, the South Lake Tahoe resort area is great for both vacation homes and investment opportunities. If you are looking for a vacation home in Tahoe you are not alone. Who wouldn't long to view sweeping mountain vistas from a mountain chalet sequestered among the Jeffrey pines?

Information Sources:

National Association of Realtors®, California Association of Realtors®, South Tahoe Association of Realtors®, Aspen Board of Realtors, Rocky Mountain Resort Alliance, Land Title Guarantee Company of Eagle County, Colorado.

(Information deemed accurate but not warranted)