Market Update – North Upper Truckee, South Lake Tahoe
Those of you that find a benefit to tracking the real estate market trends will want to check out our latest update of the North Upper Truckee area of South Lake Tahoe. According to statistics provided through the South Lake Tahoe Association of Realtors’ Multiple Listing Services, the big picture for North Upper Truckee in general is (applause, applause) a median home price of $407,500, near the peak of $415,000 found during the months of Oct. 2008 & Feb.- Mar. 2009.
North Upper Truckee 1 (located where North Upper Truckee Rd feeds off of Hwy 50 near Meyers and ends at Zuni Rd) saw an estimated 8% decrease in median home prices ($395,750 to $362,750) between the period of Aug. 1, 2008 through July 31, 2009 when compared to the same months one year earlier. On the positive side, there were 28 closed transactions as compared to 20 in the previous year.
North Upper Truckee 2 (the area from Zuni Rd to Tahoe Mountain Rd) saw an estimated 6% increase in value, from $547,000 – $580,000, with half as many sales – that being 5 as compared to 10 the previous year. This area was hardest hit during the 2007 Angora Fire and is currently undergoing a transformation from smaller homes in wooded areas to newer, larger homes with wide open views.
Be sure to check out more information regarding the North Upper Truckee area. Within this neighborhood profile, one can learn more about the overall make-up of the area, nearby points of interest and follow the real estate market activity as far back as 2003.
South Lake Tahoe Real Estate Market Update, Aug 20- Aug 26
This week there were 11 NEW LISTINGS, down from last week’s 14. The lowest priced new listing is $174,900 for 2680 Kubel, a 2 bedroom, 1 bath with 448 square feet. The highest priced new listing is $998,000 for 1355 Glenwood, a 4 bedroom, 3.5 bath with 4322 square feet. This week’s median listing price is $359,000.
There were 11 homes that went into ESCROW this week, down from last week’s 19. The lowest priced new escrow is $209,900 for 798 Hazel, a 3 bedroom, 2 bath with 2130 square feet. The highest priced new escrow is $759,000 for 2070 Traverse, a 3 bedroom, 2.5 bath with 2130 square feet. The median pending sale price is $289,000 with and average time on market of 247 days.
This week showed 8 homes recorded as SOLD, down from last week’s 11. The lowest sale price was $138,000 for 3344 Sandy Way #14, a 2 bedroom, 1 bath condo with 1000 square feet. The highest sale price was $760,000 for 2149 Inverness, a 5 bedroom, 3 bath with 2490 square feet. The median sale price was $237,000 with an average time on market of 131 days.
South Lake Tahoe Real Estate Market Update, Aug 13- Aug 19
This week there were 14 NEW LISTINGS, up from last week’s 11. The lowest priced new listing is $297,900 for 1370 Glenwood, a 3 bedroom, 2 bath with 1384 square feet of living space. The highest priced new listing is $888,888 for 2546 Cold Creek, a 6 bedroom, 5 bath with 3522 square feet. This week’s median listing price is $470,000, almost $100,000 more than the previous week.
The good news continues with 19 homes going into ESCROW this week, up from last week’s 15. The lowest priced new escrow is $193,000 for 2577 Armstrong, a 3 bedroom, 1 bath with 832 square feet located in the Sierra Tract neighborhood. The highest priced new escrow is $1,195,000 for 1934 Marconi, a 4 bedroom, 3 bath with 2628 square feet in the Tahoe Keys. The median pending sale price is $309,000 with an average time on market of 138 days.
Yet more applause this past week as there were 10 homes recording SOLD, up from last week’s 3. The lowest sale price was $205,000 for 2660 Fountain, a 2 bedroom, 1 bath with 800 square feet. The highest sale price was $930,000 for 3961 & 3964 Cedar, a double parcel with 2 separate houses with a combination of 4 bedrooms, 4 baths and 3711 square feet. The median sale price was $370,000 with an average time on market of 55 days.
Be sure to check our website to learn more about the sales in each South Lake Tahoe neighborhood.
Market Update – Meyers, South Lake Tahoe
Homeowners in the neighborhood of Meyers, (the entrance to South Lake Tahoe via Highway 50 from Sacramento,) should be smiling a bit more these days. A review of the previous twelve months’ homes sales through the end of July, 2009, show a 15% improvement in property values as compared to the same period one year ago. According to statistics provided by the South Tahoe Association of Realtors’ MLS, for the first time since this past March, the median home list price rose to $399,000 with a median sale price of $405,000. Can you believe it? This represents a list to sale ratio of 101.5%, (most likely due to one or more properties selling above asking price – one can assume these would be REO sales.) The median home price of $405,000 is the neighborhood’s highest value in the past twelve months.South Lake Tahoe Real Estate Market Update, Aug 6- Aug 12
[SinglePic not found]The number of new listings continues to decline – good sign for sellers. This week there were 11 NEW LISTINGS, down from last week’s 12. The lowest priced new listing is $209,900 for 798 Hazel, a 3 bedroom, 2 bath with 1184 square feet. The highest priced new listing is $995,000 for 647 Eloise, a 3 bedroom, 3.5 bath with 4054 square feet. This week’s median listing price is $379,000.
And again, more improvement with increased pending sales. There were 15 homes that went into ESCROW this week, up from last week’s 12. The lowest priced new escrow is $194,900 for 872 Tata, a 3 bedroom, 2 bath with 1685 square feet. The highest priced new escrow is $999,000 for 1756 Gentian, a 5 bedroom, 4 bath with 3111 square feet (way to go, Mark Salmon with Pinnacle.) The median pending sale price is $325,000 with an average time on market of 97 days.
This week there were 3 homes that were recorded as SOLD, down from last week’s 11. The lowest sale price was $345,000 for 3505 April, a 5 bedroom, 2.5 bath with 2146 square feet. The highest sale price was $485,000 for 3956 Meadow, a 2 bedroom, 1 bath with 908 square feet. The median sale price was $400,000 with an average time on market of 146 days.
Stay tuned – more sales to come!