Tahoe Real Estate Market Sales- 1st Quarter 2008
The Tahoe-Reno real estate market is experiencing a shift towards mid to lower range home sales (under $1 million) and away from multi-million dollar homes, according to first quarter stats. The average price of a home throughout all of Lake Tahoe dropped under $1 million for the first time since 2004. The average price is now $909,919 (down 38 percent). The median price of a home in Lake Tahoe is down 25 percent to $662,172. Homes sold for more than $1 million were down 57 percent while homes sold for less than a million were down only five percent.... Tahoe Home Sales

Best Real Estate Buys- Incline Village, Lake Tahoe
We have seen recent price reductions and motivated sellers, especially in the $1M and below market. View a 3 bedroom Golf Course condo $479k, year-round creekside Eastern Slope $875k, 4 bedroom newer construction 2,350 sq ft home $799k, panoramic lake view building opportunity reduced to $785k... Incline Village Best Home Buys

It's interesting that, with little to no movement among interest rates, the number of applications for mortgages declined so much. That tells us where we are in this market cycle--dragging along the bottom. But there is reason for some optimism. Prices seem to be hitting the bottom, too. What does all of this mean about the real estate market? It’s hard to say. The good news, in the view of Aaron Smith of Moody’s Economy.com, is that we may likely be nearing the bottom for home price declines in many parts of the nation. But home sales aren’t likely to pick up significantly for quite some time. update on current home finance