That is me in the photo looking into the future down into those beautiful blue lakes. One in Lake Tahoe and the other is Fallen Leaf. As I ponder the year ahead, my real estate 2016 market prediction for real estate in Lake Tahoe is nothing more than optimistic. After all 2015 was a great year for real estate and my overall life here in Lake Tahoe. As you all know the only thing lacking was snow-can’t have it all I guess. Last year Heavenly owned by Vail Resorts received 87 inches total and as of today, Jan. 30th Heavenly has received 224 inches. Wow what an improvement.
So can the real estate market improve over last year and what is my 2016 market prediction for real estate here in Lake Tahoe? In 2015 the volume of sold real estate on the South Shore was $277,795, 167 and $264,448,133 in 2014 which is 5% more. Units sold were 632 vs. 596 and the average price was $439,549 vs. $443,705. Realtor.com is predicting that the market nationally will improve by 3% (prices) and are reporting 6% in 2015.
Each market is so localized and 95% of the homes I sell are vacation homes. Vacation home sales boomed in 2014 according to the National Ass. or Realtors to above their most recent peak level in 2006 and they were up 57.4 percent over 2013. Can this trend continue? It sure feels like it as 2016 is starting off very strong. My office, Chase International is already surpassed this time last year in volume by 15% which is a good sign. And anyone knows that has visited South Lake Tahoe recently can see the improvements and all of the people-the economy is booming! So many of this is fueled by San Francisco and their affluent residents and the strong job growth.
Also, there are two new large luxury projects being built in South Lake Tahoe right now. One is Zalanta (I am a salesperson for the project)a 30 unit condo resort development in the heart of downtown and located directly across from the Heavenly Gondola. Prices start at $895K for a 2 bedroom and up to $1.9 milion for a 4 bedroom. As they say location is everything. The other project is the Tahoe Beach club located about 2 miles away on the NV side of South Lake Tahoe. This project will consist of a waterfront clubhouse and 148 condos built in phases. Let me know if you need more info on either one of these projects.
If you are looking to buy or sell please remember me as your resource for real estate in Lake Tahoe Real Estate as my 2016 Market Prediction for Lake Tahoe is thumbs up. I specialize in resort real estate-and I also learned that 40% of buyers want to be on the beach and 17% of buyers want to be in the mountains. So that means 57% of buyers want Lake Tahoe-lucky me!