Not all of the news regarding real estate sales at Lake Tahoe is bad.  In fact, on the East Shore we experienced increases in total sales volume, median price, and average price for single family homes in 2007 vs. 2006.  Single family home sales volume rose 4% from $154,620,650 to $161,304,237, the median price rose 14% from $915,000 to $1,045,000, and the average price rose 25% from $1,737,310 to $2,179,786.  We did however experience a decrease in units sold from 89 in 2006 to 74 in 2007 which represents a decline of 17%.  This was certainly not the case in other areas of the Lake

or even for condo sales on the East Shore where unit sales decreased over 40%.  However, any increases on a year to year basis are positive signs.  I was speaking with an industry veteran recently and he told me that based on his experience the first signs of a down real estate market turning around is increases in price.