I'm glad that you are thinkig about a vacation home in South Lake Tahoe, Great Choice! Our market has remained stronger than most, due to the fact that most houses in South Lake Tahoe are second homes. The second home market is a stronger and more stable market. Currently we have 427 single family homes on the market in South Lake Tahoe, 48 of those (11.2%) are currently in escrow. Our inventory should rise this spring as it usually does, because many people wait to list there homes until the snow melts and there yards show better. Regarding transaction activities, 2007 saw a 14% decline from 446 units sold in 2006 to 385 units sold in 2007. So far in 2008 there have been 25 single family units sold. The average price of sold homes went up 3% in 2007 from $562,693 in 2006 to $578,627 in 2007. The increase in price was mainly due to the fact that home sales over $1,000,000 are still strong.
Now It is a great time to buy in South Lake Tahoe. There are some good oppertunities from motivated sellers and REOs. I would love to help you find the perfect vacation home in South Lake Tahoe!