Pinnacle Tahoe Real Estate Blog

We took a brief hiatus from the Lake Tahoe real estate weekly market updates due to system changes, updates and, okay, a brief vacation.  However, we’re back in action and it looks like the timing is perfect.

Rather than divide the South Lake Tahoe market activity between City & County properties, we felt those closely watching the sales reports would be more interested in weekly and annual comparisons.  These statistics are especially interesting when one compares them to the national real estate reports being broadcast on a daily basis.

Between the week of July 2nd through July 9th (encompassing the July 4th holiday) there were a total of 14 closed escrows as compared to only 5 for the same period last year.  These sales ranged from a low of $285,000 to a high of $1,100,000.  Last year’s sales ranged from a similar low of $285,000 to a high of $540,000.

New escrows totaled 11, down from the 17 the previous week.  The lowest asking price among these properties was $190,000 for a bank-owned 3 bedroom, 2 bath home near the Y area to a high of $1,295,000 for a waterfront home in the Tahoe Keys.  The median price among the new escrows was $387,000 demonstrating that the under $500,000 price range continues to dominate the South Lake Tahoe real estate market.

There were 20 new/back on the market listings ranging from a low of $265,000 to a high of $1,750,000 with a median asking price of $544,000.  Last week’s new/back on the market listings numbered 28 with a median price of $469,000. 

THIS WEEK’S HOME OF THE WEEK is 1093 San Diego.  Just reduced  by over $100,000, this stunning home features mountain luxury through and through.  2,000 SF of hand-distress solid oak floors, raised paned alder doors, recirculating hot water system, professional series appliances RV parking, and VIEWS.  Outdoor enthusiasts will love the proximity to the Truckee River, Lake Tahoe Golf Course, Tahoe Paradise Park and three major ski resorts.  Click here to take a visual tour.  Enjoy the journey and let us know if you would like further information on this or similar homes.

This entry was posted on Friday, July 11th, 2008 at 1:25 pm and is filed under South Lake Tahoe Real Estate Market Update. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.