How Lake Tahoe Real Estate Has Appreciated in the Last 10 Years
Purchasing a home in Lake Tahoe is driven by a number of internal and external factors. These factors are often consistent across different generations, and lifestyle plays a large role in influencing these decisions. For many, Lake Tahoe represents a high quality of life, offering a peaceful yet active environment. The abundant outdoor recreation opportunities, tight-knit community, and the safety net of being shielded from the chaos of city life make it a dream location for both seasonal and year-round residents.
However, another compelling reason for purchasing real estate in Lake Tahoe is the financial investment it represents. Over the last 10 years, Lake Tahoe’s real estate market has seen significant appreciation, making it not just a desirable place to live, but also a smart financial move. In this article, we’ll take a closer look at how the Lake Tahoe real estate market has appreciated in the last decade, with a specific focus on data from the Tahoe Sierra Multiple Listing Service (MLS).
Olympic Valley Single Homes
Olympic Valley saw a 69% increase in value over a 10-year span, with a 67% increase in price per square foot. The current average sale price is $2.3M at $800 per square foot.
North Lake Tahoe Non- lakefront Home Sales
Non-lakefront single-family homes in North Lake Tahoe experienced a 79% increase in average sale price and a 109% increase in price per square foot. The current average is $1.1M at $668 per square foot.
CA Lake Tahoe Lakefront Home Sales
California Lakefront homes saw a 123% increase in average sale price and a 57% increase in price per square foot. The current average is $9M at $2,500 per square foot.
10 Year Appreciation
Raw Data
Conclusion
While these trends provide a general overview, it’s important to note that each property is unique. Factors such as remodels, additions, location to landmarks, orientation to the sun and mountains, floor plan, structural components, and design all play a role in a property’s value. If your property doesn’t align with these trends, I’d be happy to pull a report specific to your area to help you gain a more accurate understanding.
If you’re thinking of buying or selling and would like a precise assessment of value, please feel free to reach out!
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