DataMarkets & Economy

Truckee and Incline Village propel Lake Tahoe’s sales volume

Median home prices rising, more homes selling in 2016 verses last year
  • Median home price in Lake Tahoe increased 13 percent annually to $983,750 in the first half of 2016.
  • One $25 million estate purchase pushed Incline Village's median home price up 920 percent over last year's first six months. The estate had been on the market for over 1,500 days.
  • Total volume for Truckee, California, reached $73,091,226.

Lake Tahoe has far surpassed 2015 sales so far this year, according to market observers. Currently beating 2015 first half volume figures by 30 percent thanks to influx in Truckee and Incline Village, the luxurious destination is still seeing local pockets fluctuate in various categories. Sierra Sotheby's International Realty released 2016 first half sales figures highlighting the real estate market in Lake Tahoe neighborhoods from January to June of 2016. The firm examined data from Truckee, Incline Village, East Shore, Reno, South Lake, North Shore and West Shore. According to Sierra Sotheby's, median sales price in Lake Tahoe increased 13 percent year-over-year, to $983,750. However, one major sale in the Incline Village area is credited with skewing some year-over-year numbers, though there are increases elsewhere not affected by the major sale. That major sale in question was the purchase of a lakefront Incline Village estate to the tune of $25 million. This purchas...