(Lake Tahoe Real Estate Blog / June 20, 2011 / Richard Bolen)
South Lake Tahoe neighborhood luxury home values: Cave Rock prices up 5% over last year, but 144% off Cave Rock market high of 2008.
We though it would be interesting to track South Lake Tahoe, NV neighborhood home values over time with this visual. As the chart above indicates, here are the median sold prices for the Cave Rock luxury home neighborhood since 2004.
Cave Rock Luxury Home Values :
Cave Rock luxury home values are 4.8% higher ($48,750) than they were for 2010. It should be noted that this data is based on only two home sales this year, and that Cave Rock is a luxury home neighborhood for the most part, but has an area with market entry homes (Lyons Avenue) that are included in the Cave Rock housing data.
Much better news for home buyers who might be thinking in taking advantage of better prices and historic low interest rates: Cave Rock home values are $1,689,750 lower, or 144.9% less than what they were at the market high in 2008.
Compared to the median sold price of all South Lake Tahoe, NV (aka "Stateline, NV") home sales this year, the Cave Rock median sold price this year is $485,250 higher, or 84.4% above the current 2011 median sold price of Nevada neighborhoods combined ($575,000). This difference makes sense when comparing a luxury home neighborhood to the median sold price of all South Lake Tahoe, NV neighborhoods combined.
Glenbrook Luxury Home Demand :
The chart above indicates the number of luxury homes sold in Cave Rock by year since 2004. What this indicates is Cave Rock luxury home demand in 2011 will not likely exceed that of last year.
Fly in to Cave Rock, here
Some previous Lake Tahoe Real Estate Blog posts about Cave Rock:
Oct 16, 2010: Cave Rock luxury homes for sale update
Feb 9, 2010: Cave Rock homes for sale update
Aug 14, 2009: Cave Rock real estate update
Feb 8, 2009: Cave Rock home listings update
Aug 9, 2008: Cave Rock homes for sale update
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