2012 was a banner year for Tahoe lakefront property sales: $173 million in volume; 36 sold properties; 5 sales over $10m.
In this data I include knowledge of sales done off of MLS which comprised about $17m last year.
Total sales volume doubled coming at roughly $173.65m; the 2012 total was $72.5m. Average sales prices were pulled from $3.1m to $4.6m and were helped by five sales over $10 million (my company represented a buyer on a sale over $10m which was handled off the MLS). While 2011 had 23 lakefront transactions 2012 saw 36 which represents a 50% increase. Interestingly, the percentage of asking price paid was down a bit in 2012 dropping from 92% to 86%.
The lowest price paid was $900k for a foreclosure/REO in Kings Beach while the top price was $17.25m for the Pennington Estate in Hurricane Bay. There were 8 sales in the $2m range, 13 sales in the $3m’s, and 5 sales over $10m. In the previous 5 years combined there were 5 sales over $10m. See the newspaper article quoting my stats here.
I have assembled some interesting charts from MLS data below:
