Third quarter Micro-Market report data indicates not only have sales numbers increased Lake Tahoe, but buyers are opting for premium properties.

Incline Village and Crystal Bay lakefront home sales are the strongest with an increase of 500 percent year over year for the third quarter. East Shore lakefront sales are up 266 percent, and North Shore lakefront sales are up 45 percent.

“With nearly 5 times the number of lakefront homes sold in 2013, high-end buyers have returned to the Incline Village and Crystal Bay real estate market. The highest priced sale through September 2012 was only $8.5 Million,” SSIR Incline Village agent Lexi Cerretti said. “In comparison, five lakefront homes have now sold between $10- $25 Million since last December. Inventory has also dropped to just 15 lakefront homes, although there are off-market properties available. Several sales were for primary residences with Nevada tax benefits.”

“It shows the high end Nevada market has continued to surge forward thanks in part to California’s Prop 30 bringing more high net worth individuals over the border for tax shelter and improved asset protection,” SSIR Incline Village agent Randy Roesch said.

The third quarter Micro-Market Report still shows positive results for home purchases in California, particularly Squaw Valley, despite Prop 30.

“Squaw Valley home sales in 2013 have been most encouraging. We have had nine homes sell in Squaw Valley to date in 2013 for over $1,000,000. The overall average sales price of these homes was about $2.75 million. There are three more homes currently in escrow ranging in asking prices from $1.8 million to $2.995 million. One very notable sale was our Sierra Sotheby’s listing that closed for $8.5 million. This sale represents the highest priced home sale in the history of Squaw Valley, breaking the previous record by almost $3 million,” agent Bill Murphy said.

The Tahoe Real Estate market activity is unique to the national average, with substantial differentiation throughout all neighborhoods. Buyers in the market to make a home purchase gain a crucial benefit from Micro-Market report data.

Sierra Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help buyers make well informed real estate decisions. Contact a local expert at one of Sierra Sotheby’s offices for assistance with interpreting the results and for additional information about the third quarter Micro-Market report.