Chase International year-end 2018 Reno-Tahoe-Carson real estate market reports.

Chase International year-end 2018 Reno-Tahoe-Carson real estate market reports.

Lake Tahoe experienced robust luxury home sales in 2018, with closings on single-family homes over $1 million increasing by 19%. Average median prices rose 12% around the lake, except on the East Shore where prices softened by 9%.

Reno witnessed a 51% increase in home sales over $1 million this year, as the rest of the market paused a bit moving into 2019.

“Luxury really made a comeback this year,” said Susan Lowe, Senior Vice President and Corporate Broker at Chase International. “We saw some very strong numbers in the luxury segment, which we define at over a million dollars, roughly. Across the region, the million dollar luxury market is up 25% from 2017.”
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December Reno-Tahoe luxury property and significant sales.

December Reno-Tahoe luxury property and significant sales.

Chase International closed out the year in December with several luxury sales highlighted here. Additionally, it’s worth noting that there was a $22 million sale in Tahoe City, continuing the trend of uber-luxury sales around Lake Tahoe in 2018. Watch for detailed year-end market reports, soon to follow.

Congratulations to our clients and agents who closed on the following properties: (more…)