Pinnacle Tahoe Real Estate Blog

Did you hear the news? This past Tuesday morning, the media reported that the overall national sales showed February boasting an increase in home sales (approximately 2% higher) than preceding months. This was the first positive report in over a year. Is this the beginning of a trend or simply a fluke? No matter - good news is good news.

The past week’s market activity was rather similar to previous weeks except for the number of new listings within the city limits. There were a total of 18 new/back on the market listings just within the city however, 7 of these included a group of condos and town homes all within the $345,000 range. The top of the scale was a lake view condo located in the Tahoe Keys for $1,595,000. Amenities include a boat dock, two swimming pools, tennis and more. There were 4 new escrows of which the two lowest priced properties were in the Bijou area and both were listed for $372,000. Must be a magic number. Now, here are some big numbers - 9 homes closed escrow within the city last week. These ranged from a low of $165,000 for tiny cabins within the Sierra Tract to a high of $1,180,000 for a deluxe Heavenly Mt. home with over 3,000 SF of living space. There was no activity in regards to city lots last week.

The county area market activity was busy as well. There were 3 new/back on the market listings starting with a 2 bedroom cabin with 864 SF for $335,000 to an affordable contemporary house for $569,000. New escrows totaled 3 with a range of $379,000 for a 4 bedroom home to $664,000 for a newer 2,820 SF home. Both were bank-owned properties. Three seems to be the consistent number for the county. There were 3 closed sales starting with $350,000 for a five bedroom home to $649,000 for a newer construction home on Elk’s Club. Again, these two properties were bank-owned. Wrapping up the county activity were 3 new lot listings ranging from $145,000 - $199,000 for a view lot with a building allocation. There was one closed lot sale for $190,000.

Our property of the week is a 2 bedroom townhouse located near the foot of Heavenly Mountain. Year round recreation lovers will enjoy the easy access to the slopes, forested trails and Lake Tahoe beaches. Extra bonuses not found within most of the area’s condo developments are a pool, clubhouse, spas AND covered parking. Click here to Check out the Visual Tour.

When talking recently with fellow Realtors throughout the Lake Tahoe area, we are pleased to be hearing the same somewhat positive comments. The phones are ringing with increasing inquiries, the number of potential buyers actually touring homes is up and the overall mood is that of cautious optimism. Inspired by this gleam of good news, we came up with an idea to present visual tours for some of our favorite listing on this blog site.

The activity during the past seven days was fairly similar to that of the past couple of weeks. Within the city limits, there were 6 new residences posted as “new/back on the market.” The range saw a low of $150,000 for a studio apartment along Emerald Bay Highway to $599,999 for a three bedroom, 2 bath home with almost 2,500 SF of living space in the Al Tahoe area. Down from the previous week’s 5, this past week saw 3 new pending sales ranging from $269,900 for a Tahoe Keys studio to $449,000 for a three bedroom home backing the meadow in the Bijou area. There were 5 reported sales, up from last week’s 2. The low was $245,000 for a small 2 bedroom cabin in the Sierra Tract to $434,000 for a townhouse in the Tahoe Island area.
During the same period last year, there were 3 reported sales ranging from $330,000 - $677,000.

The County area reported 5 “new/back on the market” listings as compared to last week’s 6. The range started with $479,000 for a three bedroom home in the Tahoe Paradise area to $859,000 for a river front property along the Truckee River in Christmas Valley. The number of new pending sales was 2, half that of last week. These homes were both below $400,000. As within the city limits, the number of closed sales was also higher with 5 ranging from $399,000 for a bank-owned property in the Meyers area to $937,500 for a newer 5 bedroom 4 bath home.
During the same period last year, there were 2 reported sales ranging from $535,000 to $1,150,000.

In regards to vacant land, there were a total of 7 new listings. 2 were within the city limits and the remaining 5 were in the county. These prices range from $99,000 - $200,000. There were no reported pending or closed sales. During this same period last year, there were two closed sales, one in each the city and county.

Click here to view a Visual Tour of the property shown in the snow scene above 

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.

Could the South Lake Tahoe market be experiencing a bit of a turn-around? As of today, Friday, April 7th, there are 60 single family residences and condos listed as being in escrow. Although my memory is not the best, this seems to be fairly comparable to the peak of last summer. And the snow hasn’t even melted yet.Within the city limits, there were 5 new homes reported as new or “back on the market” during the past week (down from the 7 & 14 during the previous two weeks.) The list prices ranged from $269m900 for a 2 bedroom house with 912 SF to $585,000 for a newer 3 bedroom, 2 bath home with aover 2,200 SF of living space.

The number of homes that went into escrow was 5, the same as last week- and what a range! The lowest priced home was $174,900 for a very small, 2 bedroom home (only 504 SF) to $1,245,000 for a newer 3,200 SF, 4 bedroom home at the foot of Heavenly Mt.

There were 3 reported sales (up from 1 last week) ranging from $310,000 - $800,000.

There was no activity within the lot market.

The county area reported 3 new or “back on the market” (down from last week’s 9.) The lowest priced new listing is $309,000 for a 2 bedroom, 1 bath home in the Meyers area to $639,900 for a newer Christmas Valley home with approximately 1,800 Sf.

There were 7 new escrows (that would be a wow!) The lowest price property was only $273,000 however, the property was actually just the beginning of a construction project. The top of the range was a $1,050,000 brand new home in the North Upper Truckee area. 5 of these 7 homes were built after 2005.

There were no closed sales for the county (but watch out 6 weeks from now.)

The county lot activity saw 3 new listings and 2 new pending sales. The total group ranged from $140,000 - $299,000.

Short Sales and Bank-Owned Properties were the hot topic of the past week.  Over half of this week’s new escrows were such type lisitngs. Investors and folks that have been waiting for a good time to get back into the market appear to be taking advantage of opportunities in today’s market.

Within the city limits, there were 7 new homes reported as new or “back on the market” during the past week (down from the 14 during the previous week.) The list prices ranged from $250,000 for a 2 bedroom condo to $899,000 for a newer 4 bedroom home.  Both are near the Heavenly Ski Resort.

The number of homes that went into escrow was 5, down from the 9 last week. These properties ranged from $319,000 for a bank-owned home in the Tahoe Island area to $529,000 for a brand new home in the Sierra Tract. 

There was only 1 reported sale for a 5 bedroom home in the Gardner Mountain area which sold for $640,000.

The county area reported There were 8 new or “back on the market” (slightly down from last week’s 9.)  These listings ranged from $273,000 for what was basically the beginning stages of a new construction to  $1m850,000 for a deluxe home in the North Upper Truckee area. 

There were 4 new escrows  up from the 1 last week.  These properties ranged from $245,000 for a bank-owned 2 bedroom home in the Meyers area to $1,199,000 for a newer “mini-mansion” which was accepted as a short sale.

There was 1 reported sale for a lovely view property in the Pioneer Trail area.  This home had over 3,000 square feet of living space and sold for $825,000.

Within both the city and the county, the only lot activity had to do with city lots.  There were 3 new escrows ranging from $240,000 for an acre in town to $1,335,000 for a 5 acre parcel with plans for a small estate.

MORE SNOW! And just as we experienced during our most recent storm activity, as the snow increased, so did our real estate activity. 

Within the city limits, there were 14 new homes reported as new or “back on the market” during the past week (up from the 8 during the previous week.) The list prices ranged from $269,900 for a studio condo to $1,396,000 for a 4 bedroom waterfront property.  Both of these homes were in the Tahoe Keys area and featured views and boat docks.

The number of homes that went into escrow was 9, triple that of last week.  These properties ranged from $195,000 for a smal (520 sf) cabin to $750,000 for a spacious (1,920 SF) three bedroom home near Heavenly Mountain. 

There were 3 reported sales ranging from $410,000 for a 3 bedroom/2 bath home to $650,000 for a newer 4 bedroom home.

The county area reported There were 9 new or “back on the market” (up from 2 the previous week.)  These listings ranged from $369,000 for a 2 bedroom/1 bath home to  $799,000 for a 3 bedroom home built in 2002. 

There was 1 new escrow  for a 3 bedroom/2 bath home with 1, 266 SF of living space. 3,200 SF which was listed for $399,900.

There were 2 recorded closings ranging from $366,000 for a 4 bedroom/2.5 bath home to $490,000 for a 3 bedroom/2 bath home built in 1992..

Both the city and the county each saw one new listing for lots appear on the market.  The city lot is listed for $125,000 while the lot in the county is listed for $225,000.

The past week’s Lake Tahoe real estate activity was slower than weeks past.  With all the gorgeous new snow, it appears as though folks were more interested in skiing than house-hunting.

Within the city limits, there were 8 new homes reported as new or “back on the market” during the past week down from 13 the prior week.  The prices ranged from $353,000 for a 3 bedroom home to $1,250,000 for a brand new construction with approximately 2,600 SF of living space.  Both of these homes were in the Bjiou area.

3 homes went into escrow down from the 5 the previous week.  These properties ranged from $265,000 for a 2 bedroom, 1 bath  to $449,000 for a 3 bedroom, 2 bath home with over 1,600 SF.

There were 0 reported closed sales within the city limits.

The county area reported There were 2 new or “back on the market” listings ranging from $514,900 for a “half-finished” home in desirable Montgomery Estates to $750,000 for a brand new construction (with views) in the North Upper Truckee area.

Down from the 14 new escrows last week, there were 6 new escrows ranging from $275,000 for a 2 bedroom, 1 bath home to $975,000 for a 4 bedroom home with over 3,200 SF. 

There was 1 recorded closings for a 3 bedroom, 2 bath home with 1,736 SF of living space for $485,000.

There was no new activity amongst lots within either the county or the city limits.

This was an interesting week. Despite a week long episode of storm after storm after storm, homes were being listed and sold at a rate equivalant (and even better in some categories) than the previous months.  Never mind the fact that most neighborhoods were experiencing narrow, one lane roads with snow berms eliminating most views.  One agent shared an actual dream she had last night of driving her car through a maze and not being able to find her way out.  This followed a day of showing houses in a neighborhood that left her unsure of what street she was on at any given time.

Within the city limits, there were 13 new homes reported as new or “back on the market” listings within the past week.  This group represented quite a variety of homes starting as low as $144,900 for a small condo to $1,350,000 for a 5 bedroom home built in 2005 located at the doorstep of Heavenly Mountain Ski Resort.  There was one new lot listing within the $220,000 range.

5 homes went into escrow ranging from $179,000 for a small home in the Sierra Tract to $579,000 for a 4 bedroom older home with approximately 2,600 SF of living space in the Bijou area.  No lots went into escrow within the city limits.

There were 2 reported sales ranging from $253,000 to $480,000.  There no lots sales recorded within the city limits.

The county area showed quite a bit of selling activity.  There were 2 new or “back on the market” listings ranging from $575,000 for a 5 bedroom home to $699,000 for a 4 bedroom home.  In regards to lots, there were 2 new listings, both in the $220,000 range.

Now check this out - there were 14 new escrows within the county area.  These sales ranged from $349,000 for a 3 bedroom, 1,560 SF home to $999,000 for a 3,276 SF home built in 2002.  There was one new escrow for a lot in the Montgomery Estates area for a terrific value of $139,000.

There were no recorded closings within the county area for either homes or lots.