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Both sales volume and median price are down in all micro-regions for the month of July, year over year. Compared to June of this year, median price in July is down in all micro-regions. No lakefronts sold this July, however, six lakefronts sold in June. July lakefront sales were constrained by low inventory, so it is not entirely surprising or reflective of the market to see no lakefronts trade this past month. The pattern we are seeing is that well-priced homes sold in a flurry of spring activity while mid-summer buyers are more patient, often waiting for hopeful end of summer price reductions.

~ Bill Dietz/principal broker, Tahoe Luxury Properties