Opinion: S. Tahoe housing numbers show up trend

By Robert Stiles

Congratulations, South Lake Tahoe. After reviewing February’s numbers, I’d say our real estate market is in a definite up trend.

Robert Stiles

Six straight months of upward trending has our median sales price now at $254,500. A figure we have not seen since the end of 2011.

Although some our neighborhoods are still in a pricing down trend, I do see more positive than negative numbers. When compared to this time last year, Tahoe Keys median values are up 7 percent, parts of the Bijou area are up 12.8 percent, Meyers is up 9.2 percent and Tahoe Island Park is up 5.9 percent.

Area neighborhoods still in a downtrend include Montgomery Estates (-11.9 percent), Heavenly Valley (-10.9 percent), Al Tahoe (-7.6 percent) and the Elk’s Club area (-7.4 percent).

Keep in mind due to our low sales volume, median price changes for an area neighborhood can exhibit unusual price fluctuation. The good news, though, is when all of our neighborhood data is combined; we have the overall upward trend as noted previously.

Robert Stiles is with Tahoe Real Estate Services.