Sierra Tract is one of South Lake Tahoe's oldest, most inviting neighborhoods.
Centrally located to all things good about South Lake Tahoe, including shopping and vast alpine meadows, Sierra Tract is a market entry neighborhood of a little less than 1,000 homes.
Sierra Tract has more affordable homes available than any other one neighborhood. Small, older homes here can offer great opportunity, especially for those who can do updating work themselves. This is a perfect area for working couples, or first time buyers to own an Lake Tahoe home, and it's also a terrific opportunity for folks looking for that charming Lake Tahoe getaway... that doesn't cost much.
As our market ramped up in the middle of this decade, Sierra Tract home Values ranged from the high $200K's to $500K.
Back then, sales could be especially quick here, and even quicker than that when priced in the low $200K's.
In the current real estate climate, Sierra Tract homes sold in 2010 between $105,000 and $480,000. Some 22 of the 37 Sierra Tract homes that sold this year were priced under $200,000.
The median sold price this year was in fact, $188,000, which was some $17,000 less than it was in 2009, and $72,000 less than it was in 2008.
In the last 3 years, which was not our market high (2005 was), Sierra Tract home values, as evidenced by the median sold price, have dropped in Sierra Tract by 27.6%.