Finally the long anticipated summer weather we all love has arrived and is here to stay! Boats are traversing the lake, hikers are hitting the trails and the beaches are filling up. You can’t beat summer at Lake Tahoe!

Today we will compare 2007 with 2008 sales from the first of the year to June 18th. First up are the homes. In 2007 we had 68 sales reported with a Median Sold Price of 1,187,500. In 2008 we had exactly 1/2 the sales as in 34 sales with a Median Sold Price of 1,028,750. The Median sales price is down 10% for single family homes. With the number of closings off 50% for 2007, don’t expect much improvement. So, if you are going to sell your home in todays market, you must have the best value in your market place in order to sell. Translation, list your home right. You have a much better chance of a sale if you do. I note that Patti and I have listed and sold more properties in 2008 then any other so far. Our success is credited to informed buyers and sellers. On to condos with 42 sales in 2007 (remember that would be from 1/1/2007 to 6/18/2007). The Median Sold Price was $575,000. Once again 2008 didn’t do as well with 28 sales and a 17% drop in Median Sold Price to $475,500. One should keep in mind that some segments of the market are holding and prices are on the upswing. We advise all our customers not to paint the Incline Market with the same brush. Until next time. Sincerely, Chris and Patti Plastiras, Brokers and Owners of Lakeshore Realty, Incline Village, Nevada.