The sun is shining a pleasant 78 degrees and following a 9 hole stroll on the golf course, we ventured over to the beach to take in a bit of snorkeling. Oh wait – we’re in Hawaii, not Lake Tahoe. Boy, it can be a bit difficult keeping one’s Paradises straight.
Typically March is the beginning of a slow time for real estate in Lake Tahoe which is why we take this time for some annual R & R. However, our timing may not have been so great this year as March is proving to be one of the busiest months in quite some time.
Within the city limits, there were 4 new homes reported under the “new/back on the market” category during the past week. The lowest priced home among this group was a 3 bedroom, 2 bath home built in 1964 which was listed for $419,000. The top of the range was $1,140,000 for a 4 bedroom, 2.5 bath home with over 2,000 sq. ft. Just like last week, there were 5 new pending escrows reported with a range of $269,000 for a 3 bedroom home with 1,600 SF in the Y area and a high of $550,000 for a 3 bedroom, 2 bath home in the Bijou area. Finally, there were 2 reported closed sales starting with a 2 bedroom Bijou home for $275,000 to a newer, 2007 built Al Tahoe home for $737,000.
Vacant land activity showed one new listing in the Sierra Tract area for $95,000 as well as a whopping $1,100,000 for a 5 acre parcel with lake views.
The County area showed a bit more activity as compared to the city this past week with 6 new listings. Again, there was quite a range in values starting with a low of $384,000 for a 1,633 SF home in the Meyers home to $1,039,000 for a lake view home in the Angora Highlands area. 4 new escrows were reported with including a low of $369,000 for a short sale in the North Upper Truckee to a high of $850,000 for a lake view home in the Montgomery Estates area. This property was also a short sale. To wrap up the residential activity, there were 3 reported closed sales all within the range of $360,000 in the North Upper Truckee area to a high of $400,000 for a bank-owned Montgomery Estates home.
As far as county lots, there was one new listing for $107,500 and one new escrow for $175,000 in the North Upper Truckee area.
Tags: South Lake Tahoe Real Estate Market Update, The Lake Tahoe Real Estate Market