Average home prices near Lake Tahoe surge in quarter

The average home price around Lake Tahoe increased 29 percent to $937,501 in the first quarter, while the median home price dropped 11 percent to $564,500, Chase International real estate firm reported Wednesday. Housing units sold rose 6 percent.

South Lake Tahoe experienced an 11 percent jump in units sold, followed by Incline Village (10 percent) and Tahoe City (9 percent). East Shore had a 5 percent drop.

The average price of a home in Truckee fell 19 percent to $504,337 while the median dropped 14 percent to $439,000. Unit sales are up 11 percent.

The average price of a condo in Lake Tahoe is $356,451, down 6 percent.