Report: Tahoe, Reno Home Markets Improving
By
Steve Milne
Monday, January 7, 2013
Listen Now:
Update Required
To play the media you will need to either update your browser to a recent version or update your Flash plugin.
A year-end report says Sierra Nevada home sales got better in 2012.
Annual home sales around Lake Tahoe saw a 34% rise in units sold and a 40% increase in sales volume.
"Isn't it beautiful…to see black back in the number equation now?"
Susan Lowe is with the Lake Tahoe-based real estate company
Chase International, which released the numbers.
In the Reno-Sparks area, the median price of a home rose 7% to
$165,000. Sales volume was up 8%. Lowe says it all comes down to
supply and demand.
"The inventory is still very low, almost to a critical
point, and it's driving prices up. And I also believe that consumer
confidence in our marketplace is coming back and I think a lot of
people realized that if they were to get these great deals…the time
was to jump now, this last year."
Lowe says the upper end of the market is seeing the biggest
improvements in Lake Tahoe with the sale of million-dollar homes up
60%.