South Lake Tahoe Home Prices Decline in October

November 13, 2009

For the 10th consecutive month this year and 14th in a row dating back to August ’08 The median home price in South Lake has dropped. The median home price fell to $320,000 in October with bank owned homes leading the way down. Although the volume of homes sold has increased for last year the lower price bank owned homes have caused the prices to continue to decline. This is good news for buyers although the competition to acquire bank owned homes in Lake Tahoe has become evident with multiple offers and lists prices getting bid up regularly. If the buyer is not ready to move on a listing it is often gone with in days if it lasts that long.

 

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