Fall 2007 Condo Prices and Price Trends Nevada South Tahoe
The chart below shows Condominium Prices at Nevada South Lake Tahoe. People less frequently use condominiums as their primary residence. More often, they represent a weekend retreat and/or an investment. Thus, condominium owners/buyers generally are not interested in the fact that Nevada offers zero state income taxes; but, they are interested in the low property taxes. The charts below show that Condominium prices at the upper price ranges continue to increase. Condominiums over about $1million often are primary residences, so the price trends follow the increases noted for single family residences. The Least squares curve fit of all the condo sales data show that the average condominium price began to decline in the spring of 2006, and continues to do so. Very soon, it will be a great time to purchase a Tahoe Nevada Condo.
The trendline and the lower end prices are more easily seen in the blow-up of the lower end of the curve, as shown below, where it is clear that a decreasing price trend is in effect, at least for the time being. Now or the very near future should be a good time to buy.
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