- Median House Prices
- Dollar (dollars)
- This Indicator is reported in the following LT Info areas:
Median house prices provide an idea of the price of real estate in a certain area, and how prices have changed over time. Median house prices are used by real estate agents, buyers and sellers to inform home pricing and buying decisions, including potential buyers weighing the trade-offs of living outside of and commuting to jobs in the Tahoe Basin. The median is used instead of average to avoid outliers that will skew the average. This is particularly important in Lake Tahoe where the volume of sales is not significant and there is a small subset of homes that sell for very high prices (e.g. $10-$20 million). The few very high priced sales push the average sale to an inflated value, not showing the true market characteristics.
This indicator measures the annual median house price of houses sold in the Tahoe Basin. This indicator takes into account all single family homes sold in the Tahoe Basin within the desired reporting year. Median house price is the middle price in a series of sales, where half of the sales are of lower value and half are of higher value. Median house prices are provided by real estate agents operating in the Tahoe Basin with access to the Multiple Listing Service (MLS), a national database that tracks home sales throughout the country. Median house prices for Tahoe Basin communities are aggregated to the county level (Placer County is split into two regions, north shore and west shore).
|Median House Prices||
Washoe County, Douglas County, El Dorado County, Placer County, Placer County-North
No monitoring programs are yet associated with this indicator.
Associated Programs data not provided.