South Lake Tahoe Real Estate Market Update, Sept. 18 - 24
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.