South Lake Tahoe Real Estate Market Update, Jan. 14- Jan.20

The South Lake Tahoe real estate market showed 15 NEW LISTINGS this past week, considerably down from the previous week’s 23. The lowest priced new listing is $219,000 for 2531 Chris, a 2 bedroom with 1020 square feet. The highest priced new listing is $1,389,000 for 3779 Overlook, a 5 bedroom, 5 bath with 4243 square feet. This is actually not a new listing but has changed brokerages.  This week’s median listing price is $585,000.

There were 12 homes that went into ESCROW this past week, up from the previous week’s 10. The lowest priced new escrow is $272,750 for 1333 Glen Eagles, a 3 bedroom, 1.75 bath with 1195 square feet. The highest priced new escrow is $638,900 for 1971 Toppewetah (a bank-owned property) which is a 4 bedroom, 3 bath with 3361 square feet. The median pending sale price is $414,000 with an average time on market of 63 days.

The number of closed sales this past week was 8, up from the previous week’s 6. The lowest sale price was $67,000 for 1223 Bonanza, a 2 bedroom, 1 bath with 812 square feet.  The highest sale price was $850,000 for 537 Alpine, a 4 bedroom, 2.5 bath with 2538 square feet. The median sale price was $311,000 and the average time on the market (including the escrow period) was 93 days.

1301 Gilmore Lake Road

THIS HOME HAS SOLD!

Huge Price Reduction – Location, design and views are among the many key features embracing this custom family home. Location – within 5 minutes to the lake, skiing, meadows and golf. Design – spacious rooms flow in such a way to provide the utmost in family living. Key features include custom stone floors, lustrous granite counters, alder cabinets, game room, full landscaping, 3 gar garage, RV parking and so much more. Sun lovers will know they have found home.

Bijou 1 & 2 | South Lake Tahoe Real Estate Neighborhoods

The Bijou area, which is divided into two distinct areas, (Bijou 1 and Bijour 2) is located mid central South Lake Tahoe and Stateline which is west of Ski Run Blvd between Pioneer Trail and the Regan Beach area.  Bijou 1 makes up the majority of the area while Bijou 2 is found within a “pocket” near the west side of Highway 50 (turn off Rufus Allen) and Johnson Blvd. as well as near the popular and public Bijou Golf Course. Bijou, a French word meaning jewel or something small and exquisite, is an appropriate name for the area when considering that along with the golf course, within a few short miles are Heavenly Ski Resort, the shops at Heavenly and the Heavenly gondola.  From the Bijou area, one can walk to the El Dorado Beach area, the South Lake Tahoe Recreation complex which includes a popular indoor/outdoor pool, gym, classes and the local ice skating rink.  Another popular outdoor recreation destination is the Bijou Community Park located off of Al Tahoe Blvd.  This “playground: offers basketball, volleyball, a BMX and skate park, disc golf and a long-awaited dog park.

Since the early 2000’s, Bijou has enjoyed a renewed level of popularity as the number of second home purchases steadily increased.  This new status in home values is related to second home owners, as well as many primary residents, seeking a home with close proximity to Tahoe recreation as well as the area’s fairly level topography.  If one does not particularly enjoy snow shoveling and winter driving, the area provides a bonus.

One of South Lake Tahoe’s oldest neighborhoods, Bijou is a great opportunity for those seeking to be near the amenities found with in-town living.  The homes found throughout the area represent a wide range of styles, ages and sizes.  Here one can find approximately 1,200 properties including early (by Lake Tahoe standards) historical cabins (primarily in the Bijou 2 area), to meadow-front homes worth over a million dollars.  There are multi-family units starting with duplexes on upward to apartment buildings.  A variety of condo styles can be found throughout the area as well as brand new construction.  The average home in the area is a three bedroom, two bath home with approximately 1,300 square feet of living space.  Many of the homes throughout Bijou feature mountain and/or meadow views.

We have just updated the Bijou neighborhood market values as of July 30, 2010.

Montgomery Estates | South Lake Tahoe Real Estate Neighborhoods

If you ask which neighborhood is home to the majority of locals, one of the most common responses will be Montgomery Estates.  Many consider this neighborhood to be the best of two worlds – city and county living.  City advantages are available as Montgomery Estates is located on the dividing line offering shopping, dining, movie theaters, etc. all within a few short miles.  In fact, Heavenly Mountain and the El Dorado & Regan Beaches are all located within four short.  The advantage of county living comes with the allure of more spacious and private lots, a peaceful environment and well-kept properties.  When looking from an aerial view, Montgomery Estates is located approximately mid way along Pioneer Trail between Hwy 50 and Stateline.

There are basically five sections to Montgomery Estates.  The three neighborhoods above Pioneer Trail are called Cold Creek (or Lake Christopher,) Kokanee Estates and High Meadows / Marshall Trail with Golden Bear and Meadow Lakes below.  Meadow Lake has an extra bonus of underground utilities.  Some of the area’s most popular trails are accessed at the end of High Meadows Trail or Marshall Trail.  From the trail head, one can venture all the way to Star Lake for a magnificent view and adventure. Many of the Montgomery Estates homes feature majestic mountain and forest views, back National Forest land and a few even have lake views.   It is not uncommon to find homes adjacent to State Conservancy land as well.  Although you may never want to leave the comforts of home, if you do feel the urge to get out and see the sights, most of the South Lake Tahoe beaches, outdoor recreation, shopping, dining and entertainment venues are all within five to ten minutes of one’s front door.  Nearly every section of Montgomery Estates benefits from a forest or meadow area within a few short steps where snow mobiles, dirt bikes, hikers, bikers, cross country skiers can all experience their slice of heaven.   The closest elementary school is the award winning Sierra House School.

There are approximately 965 homes throughout the area with an average size of four bedrooms, two and a half baths and 2,100 square feet of living space.   There are a few older cabins however, the majority of the homes in the area were built after 1980 and are relatively newer by South Shore standards. The overall median home price for the area at the end of April, 2010 at $430,000 was down only 3% as compared to $444,457. When looking at year to date postings, January 1st through April 30th, the reports for Montgomery Estates are actually higher than for the same period during 2008 and 2009. During this first trimester, the number of closed sales reported through the South Lake Tahoe multiple listing service was ten which was slightly higher than 2009’s nine and 2008’s minimal three.

Al Tahoe | South Lake Tahoe Real Estate Neighborhoods

“Walk to the Lake” is the most common advertising phrase posted when referring to homes located in Al Tahoe.  And it’s true!  The Al Tahoe neighborhood is ideally located within the center of South Lake Tahoe with the perimeter bordering Lake Tahoe beaches along Lakeview Avenue on the north side and the Truckee Marsh Meadow and Trout Creek along the south and west sides.  The homes that are overlooking the meadows also have beautiful mountain views.  The approximate 1,000 homes within the neighborhood generally sit on lots starting at approximately 5,000 square feet and up to 10,000 square feet.  As the number of second home buyers increased, so did the popularity of this small community.

Historically speaking, this is one oldest neighborhoods found in the South Shore as is evident by the higher than average number of quaint  “Ol’ Tahoe” cabins, chalets and cottages with some dating back as far as the early 1900’s.  One small pocket within Al Tahoe was at one time, a collection of small forest service recreation cabins.  In an effort to obtain fee simple ownership, the property owners gathered together to purchase a chunk of land elsewhere and successfully made a trade with the government in exchange for the land on which their homes stood.  The owners of these cabins formed a small HOA with one of the main purposes being to maintain the classic old charm of days gone by.  The area was a popular summer camp for the Washoan Indians at one time showing that Al Tahoe’s popularity is timeless.

The diversity found throughout  Al Tahoe includes brand new architecture and construction, modest ranchers, multi-family dwellings and small apartment buildings.  The conveniences of living in this neighborhood are plenty.  Not only can a family stroll over to the Regan Beach Park as well as the El Dorado Beach Recreation area and boat ramp, dining, shopping and public transportation including ski shuttles, are all within walking distance.  The Regan Beach park hosts a playground, snack shack and beach volleyball, not to mention the miles of beachside hiking or cross country skiing.   A couple of miles down the main road is the newly developed Heavenly Village and gondola leading to the Heavenly Valley Ski Resort.  Just a tad further is the casino strip where year round concerts, shows and entertainment are always available.

Check out the updated market report for the Al Tahoe neighborhood as of July, 29, 2010.

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