Pinnacle Tahoe Real Estate Blog

This is it folks.  One of the best times of year to be in Lake Tahoe.  The weather continues to be glorious and we are hanging onto these last few days of an Indian summer.  And just as the weather continues along a steady course, so does the real estate market.

The following information was taken directly from the South Lake Tahoe Association of Realtors’ Multiple Listing Services on September 25, 2008.

During the past week, there were 14 NEW listings posted.  The most affordable home in this group is listed for $229,000 for a 3 bedroom, 1.5 bath cabin in the Sierra Tract.  Way to go Diane with Pinnacle.  The highest priced new listing is $759,000 for a 3 bedroom, 2.5 bath home with over 3,300 SF of living space, also in the Sierra Tract.  The median home price for the new listings is $412,450, just slightly down from last week’s $445,000.

There were 17 NEW ESCROWS posted, up from last week’s 10.  Among these 17 homes, the lowest price is $239,000 for a  3 bedroom, 2 bath home in the Sierra Tract.  The highest price is $895,000 for a 4 bedroom, 3 bath home with approximately 2,680 SF of living space.  The median home price is $396,000, slightly down from the past two week’s median of $424,000.  The average time on the market for these homes is 117 days.

There were 4 CLOSED sales, down from last week’s 9.  The lowest priced sale was $145,000 (congrats to Fawne with Pinnacle.)  This studio condo features 1 bedroom, 1 bath, a community pool and within close proximity to beaches.  The highest recorded sale was $812,500 for a 3 bedroom, 2 bath Tahoe Keys home with approximately 1,800 SF of living space.  The median price amond the closed sales is $444,950, nearly equivalent to last week’s $449,000.  The average time on the market for these homes is 107 days (including the escrow period.)

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more.

For those of you checking in our on our weekly updates, we apologize for the delay this past week.  While traveling, we discovered glitches to email service which we thought no longer existed.  Boy, isn’t it amazing how quickly we get accustomed to today’s technology and how lost we can be when it is not readily at hand?

But, we are back, up and running and so - let’s continue our market watch.  During the week of September 11 through the 18th, South Lake Tahoe witnessed the following market activity:

There were 11 new listings reported starting with a low of $26,900 for a 2 bedroom, 1 bath home on Pinecrest to a high of $3, 225,000 for a stunning 3 bedroom, 3 bath home with a full guest apartment located right on the lake.  (Way to go Vicki at Pinnacle.)  The median home price among the new listings was $445,000.

There were 10 new escrows reported (down from the previous two weeks 14 & 12) during the past week.  The low end of the price range was $150,000 for a 1 bedroom, 1 bath condo along Emerald Bay highway.  The high end of the range was $1,159,000 for a newer, 4 bedroom, 3.5 luxury home built in the Angora Highlands area - more cheers for Pinnacle! The median price among the new escrows is $419,450, down from last week’s $424,760 and the average days on the market for these homes was 83 days, up slightly from last week’s 76.

Okay - now for our favorite part of this weekly update.  Last week, South Lake Tahoe’s real estate market reported 9 closed sales, nearly double of the 5 reported last week.  The lowest recorded sale was $349,500 for a 3 bedroom, 2 bath home on Clear Creek.  The highest priced home sold $593,000 for a 3 bedroom, 2 bath home located right at the foot of Heavenly Mountain skiing.  Someone is going to have a great time this winter.  The median home price was $449,000, up from last week’s $327,950.  The average time on the market for these homes was only 70 days.

The information above was taken from the South Lake Tahoe Association of Realtors as of Friday, September 18th, 2008

Be sure to visit our web site at www.HomeInTahoe.com,  to learn more about the South Lake Tahoe real estate market, neighborhood trends, news and more.  See you in a few days.  

And, don’t forget to VOTE!

The following information is taken from the South Lake Tahoe Association of Realtors as reported on Thursday, September 10th, 2008.

Another glorious week in regards to weather, beauty and quiet surroundings.

This past week saw 17 new listings posted.  Among these 17 listings, the lowest asking price was $290,00 for a 2 bedroom, 2 bath home in the Sierra Tract.  On quite the opposite end of the scale is a high of $2,495,000 for a 5 bedroom waterfront home with over 3,200 SF of living space within the Tahoe Keys.  The median home price of these homes is $635,000 up from last week’s $499,00.

The number of new escrows is 14, up from last week’s 12.  The lowest price home in this category is $224,900 for a 2 bedroom, 2 bath home in the Sierra Tract while the high end of the range was another Tahoe Keys home listed for $849,900 with 4 bedrooms, 2.5 baths and approximately 2,300 SF.  The median home price in this group was $424,000, slightly up from last week’s $417,000.  The average time on the market for these properties was 71 days, similar to last week’s 76 days.

And now, let’s here the cheers and pats on the backs for the 5 closed escrows. The lowest priced recorded sale was $240,000 for a 2 bedroom, 2 bath condo near the Heavenly ski area.  The high end of the range was $350,000 for a 3 bedroom, 2 bath home with 1,345 SF in the Tahoe Island area.  The median home price was $327,950  with an average of 64 days on the market.

For four years now, between Memorial Day and Labor Day, a group of our friends have been meeting every Tuesday evening at one of the many Lake Tahoe beaches.  The initiative for this gathering was the realization during idle conversation that an entire summer had passed and no one had spent any time at the lake.  How can you live in such beauty and not SEE it.  From that point on, the Tuesday night event was underway.  And although some evenings it could feel like a hassle to gather the picnic baskets, assigned meal contributions, chairs, layers of clothing, etc., once settled in, the same exclamations are uttered week after week.  ”Wow, we really live here.”  

Now that Labor Day has passed and we prepare for cooler months ahead, we take with us cherished memories of glorious sunsets, toddlers exploring sand & water, guitar strumming, discoveries of new wines and family recipes highlighting green Jello and belly laughs right here in our own “backyard.”  And best of all, Tuesday Night Beach Dinner now a part of day-to-day living in Lake Tahoe (at least in the summer.)  

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The following information is taken from the South Lake Tahoe Association of Realtors as reported on Thursday, September 4th, 2008.

During the week of August 28th - September 3rd, there were 15 new listings posted. Within these new listings, the lowest asking price is $265,000 for a 1 bedroom, 1 bath home in the Stateline area. The high end is $1,325,000 for a newer Montgomery Estates, 4 bedroom, 3.5 bath home with approximately 3,300 SF. The median home price among these new listings is $499,000.

12 NEW Pending Escrows were reported with a range between $258,000 (pending short sale approval) for a 2 bedroom, 2 bath condo near the Heavenly Mountain area.  The highest priced new escrow is $2,300,000 for a 3,032 SF waterfront home in the Tahoe Keys area.  The median home price for these pending sales is $417,000 with an average of 76 days on the market.

Buyers and Sellers are celebrating the 7 new recorded sales posted last week. The lowest recorded sale was $277,500 for a 2 bedroom, 2 bath condo on Ski Run near the Heavenly Mountain Ski Resort.  The highest reported sale was $998,000 for a 3 bedroom, 3 bath Tahoe Keys home with approximately $2,100 SF of living space.  The median home price within this group was $565,000, up from last week’s $410,000.  The average time on the market was 105 days, down from last week’s 115 days.

Be sure to visit our web site at www.HomeInTahoe.com to learn more about the various neighborhoods, market trends and other valuable information regarding the South Lake Tahoe area.