Lake Tahoe 2008 Year End Statistics
January 13, 2009
Attached are the 2008 Year Ends Statistics for Lake Tahoe. Believe it or not 2008 was not the worst year in real estate. One of our agents did a market analysis dating back to the recession of 1981…remember those days of double digit interest rates?
1981: 19 Home Sales and 19 condo sales
1982 (the recession continues) 33 Home sales and 42 condo sales
1983 (recession is over) 84 home sales and 80 condo sales
1984 136 homes sales and 131 condo sales!
2008: 84 home sales and 87 condo/pud sales.
Click Here to review 2008 Incline Village Price Banding Chart
Click here to Review 2008 Year End Lake Tahoe Stats.
Inventory is slightly over the average from where it was in 1980. Currently there are 222 homes, 143 condos and 53 puds. There are many incredible buying opportunities out there and several “screaming deals”. Let us know if you would like a copy of our current Best Buy list. Very interesting to note that 6 of the 8 escrows for homes in Incline Village are all over $2 million. Views and values continue to go into escrow!
The conforming loan limit for Washoe County (including Incline Village) is $417,000 and we have noted that a few banks like JP Morgan Chase are no longer writing jumbo loans on second homes. Therefore, cash will remain an attractive option to most sellers. Be sure to visit www.chasenation.com for up to date market commentary.
Your Incline Village Team,
Kerry~Megan~Debbie
