South Lake Tahoe Real Estate Market Update, May 3- May 9
What a busy week within the South Lake Tahoe real estate marekt! According to the South Lake Tahoe Association of REALTORS’ Multiple Listing Services, there were 22 new listings posted over the past week, down 1 from the week before. The lowest priced new listing was $65,000 for 3798 Aspen in Bijou. This home has 1 bedroom, 1 bath and 551 square feet (congratulations to Cyndy MacLean from Pinnacle). The highest priced new listing over the past week is listed at $799,000 for 1959 Marconi, a 3 bedroom, 3 bath with 2337 square feet. The overall median list price for these new listings was $244,950 and the overall average list price was $306,895.
The number of NEW PENDING escrows over the past week was 33! This number is up 15 from the previous week’s 18. The lowest pending list price from this group was $79,900 for 645 Kiowa in the North Upper Truckee neighborhood. This home is a bank owned property with mold damage. It has 2 bedrooms, 2 baths and 1040 square feet. The highest priced home that went into escrow over the past week is listed at $1,050,000 for 3371 Lake Tahoe Blvd #2 A-D. This is for 4 timeshares of a lakefront townhome with 4 bedrooms, 4 baths and 3327 square feet, it is currently bank owned. The overall median asking price for homes that went into escrow was $239,000 while the average overall was $279,165. The average time on the market for these homes was 87 days.
As for the CLOSED escrows, there were 10 reported sales over the past week, down 2 from the previous week’s 12 sales. The lowest recorded sale price within this group was $121,500 for 3685 Rocky Point in the Stateline/ Heavenly area. This home has 3 bedrooms, 1 bath and 912 square feet. The highest recorded sale last week sold for $900,000 for 2158 Morro in the Tahoe Keys. This home has 3 bedrooms, 3 baths and 2685 square feet. The overall median sale price was $401,000 and the overall average was 374,720. The average time on the market was 142 days (this includes the escrow period).
As of May 9th 2012, there are currently 409 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 409 active listings, 168 of them are in escrow. Among the 168 escrows, 67 are subject to bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Apr. 26- May 2
Wow – the Lake Tahoe sunshine was magnificent and with it, the real estate market had a bit of a perk in activity. According to the South Lake Tahoe Association of REALTORS’ Multiple Listing Services, there were 21 new listings posted over the past week, up 2 from the week before. The lowest priced new listing was $99,500 for 1200 Wildwood #8. This is a condo near Heavenly with 2 bedrooms, 2 baths and 1044 square feet of living space. The highest priced new listing over the past week is listed at $550,000 for 432 Capri in the Tahoe Keys neighborhood. This home has 4 bedrooms, 3 baths and 2238 square feet of living space. The overall median list price for these new listings was $399,00 and the overall average list price was $350,181.
The number of NEW PENDING escrows over the past week was 18, down 6 from the previous week’s 24. The lowest pending list price from this group was $120,000 for 2943 Oakland in the Al Tahoe area. This home has 3 bedrooms, 2 baths and 1383 square feet. The highest priced home that went into escrow over the past week is listed at $535,000 for 191 Glenmore in Angora Highlands. This home has 3 bedrooms, 3 baths and 2896 square feet of living space. The overall median asking price for homes that went into escrow was $344,450 while the average overall was $324,265.
As for the CLOSED escrows, there were 12 reported sales over the past week, up 2 from the previous week’s 10 sales. The lowest recorded sale price within this group was $35,000 for a bank owned condo located at 1223 Bonanza (congratulations to Flip Walker from Pinnacle). This condo has 2 bedrooms, 1 bath and 1064 square feet. The highest recorded sale last week sold for $580,000 for 1801 Jicarilla in the Pioneer Trail area. This home has 4 bedrooms, 3 baths and 3039 square feet. The overall median sale price was $192,500 and the overall average was 223,959. The average time on the market was 131 days (this includes the escrow period).
As of May 2nd 2012, there are currently 402 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 402 active listings, 155 of them are in escrow. Among the 155 escrows, 62 are subject to bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Apr. 20- Apr. 26
According to the South Lake Tahoe Association of REALTORS’ Multiple Listing Services, there were 19 new listings posted over the past week, up 5 from the week before. The lowest priced new listing was $79,900 for 645 Kiowa in the North Upper Truckee neighborhood. This home has extensive water and mold damage and it is currently bank owned. It has 2 bedrooms, 2 baths and 1040 square feet. The highest priced new listing over the past week is listed at $818,000 for 949 Muskwaki, a 5 bedroom, 4 bath with 3809+ square feet of living space (congratulations to Mark Salmon with Pinnacle). The overall median list price for these new listings was $319,000 and the overall average list price was $357,678.
The number of NEW PENDING escrows over the past week was 24, up 2 from the previous week’s 22. The lowest pending list price from this group was $135,000 for 927 Sagewood in Highland Woods, a 3 bedroom, 2 bath with 1216 square feet. The highest priced home that went into escrow over the past week is listed at $1,375,000 for 332 Uplands in the Angora Highlands neighborhood. This home has 5 bedrooms, 5 baths and 3472 square feet of living space. The overall median asking price for homes that went into escrow was $270,000 while the average overall was $345,392. The average time on the market for these pending sales was 106 days.
As for the CLOSED escrows, there were 10 reported sales over the past week, down 5 from the previous week’s 15 sales. The lowest recorded sale price within this group was $35,000 for a bank owned condo located at 1223 Bonanza #36 in the Y neighborhood. This condo has 2 bedrooms, 1 bath and 1064 square feet (congratulations to Flip Walker from Pinnacle). The highest recorded sale last week sold for $332,000 for 1250 Pine Valley in the Pioneer Trail area. This home has 3 bedrooms, 2 baths and 2159 square feet. This was a bank owned home. The overall median sale price was $192,500 and the overall average was 176,900. The average days on the market was 135 (including the escrow period).
As of April 26th, 2012, there are currently 395 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 395 active listings, 145 of them are in escrow. Among the 145 escrows, 60 are subject to bank approval for a short sale.
So. Tahoe Neighborhood 2012, 1st Quarter Update – Country Club
Country Club Estates – 2012 1st Quarter Comparisons
The Country Club Estates neighborhood report, much like that being seen throughout South Lake Tahoe, is seeing a decrease in home values yet positive trends in most of the other areas. The following information focuses on the Country Club Estates neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services. These figures represent the total of or average for the previous twelve months, April 1 through March 31:
The median home price is of $327,000 is considerably higher than the overall of $239,000 reported as the median for all of South Lake Tahoe. Last year at this time, the median home price for Country Club Estates was $485,000. This significant drop in value for the Country Club Estates neighborhood is a result of the majority of sales taking place being among the lower priced/older/smaller homes that were sold. Although this neighborhood is known for its newer/larger homes, there were very few sales within that category during the past 12 months.
In the rest of the statistical areas we follow, we are finding that the Country Club Estates neighborhood is holding rather steady: The reports are as follows: The percent of list to sale price held at 97.3% in 2012 as compared to 97/1% in 2011. The number of closed sales saw an improvement with 22 in 2012 as compared to 17 in 2011. The average time on the market remained steady with 161 days (including the average 45 day escrow) in 2012 and 165 in 2011. The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased as well with 9.4 months in 2011 to 7.1 months in 2012.
The following presented by the South Lake Tahoe Association of REALTORS MLS represents a comparison of just the first three months in 2012 as to 2011. Compared to the first quarter of 2011, 2012 is starting off with a bang for the Gardner Mountain area.
|
Country Club |
2012 |
2011 |
| # of sales |
5 |
7 |
| median Home price |
265,000 |
485,000 |
| list to sale ratio |
98.5 |
97.1 |
| Days on Market |
142 |
151 |
So. Tahoe Neighborhood 2012, 1st Quarter Update – Gardner Mountain
Gardner Mountain – 2012 1st Quarter Comparisons
The following information focuses on the Gardner Mt. neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services. These figures represent the total of or average for the previous twelve months, April 1 through March 31:
The median home price is currently lower at $199,000 than the overall of $239,000 reported as the median for all of South Lake Tahoe. Last year at this time, the median home price for Gardner Mountain was $244,000.
Positive news was found in the following categories: The percent of list to sale price increased slightly from 95% to 97.3%. The number of closed sales increased slightly from 21 in 2011 to 24 in 2012. The average time on the market remained the same at 130 days (including the average 45 day escrow.) The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased dramatically from 11 months in 2011 to only 5.9 months in 2012.
The following presented by the South Lake Tahoe Association of REALTORS MLS represents a comparison of just the first three months in 2012 as to 2011. Compared to the first quarter of 2011, 2012 is starting off with a bang for the Gardner Mountain area.
|
Gardner Mt. |
2012 |
2011 |
| # of sales |
4 |
8 |
| median Home price |
$291,000 |
225,375 |
| list to sale ratio |
100.04% |
0.91% |
| Days on Market |
101 |
200 |