Country Club Estates 2011/ 2010 3rd Quarter Comparisons

According to the South Lake Tahoe MLS reports, the single family home sales in the Country Club Estates neighborhood showed a slight increase from the previous 2 years for the first 3 quarters of the year. There were 14 closed sales in the Country Club Estates Neigthborhood neighborhood from January 1st, 2011 through September 30th, 2011.  During this same time period in 2010 there were 12 closed sales and in 2009 during the same time period there were also 12 recorded sales. Last year in 2010 for the first 3 quarters of the year the median sale price for Country Club Estates was $419,000 and the average sale price was at $385,233. The sale prices showed an increase throughout the first 3 quarters of 2011 with a median sale price of $467,500 and an average sale price of $426,357.

Out of the 14 closed sales from the first 3 quarters of 2011, there was 1 bank owned sale and 6 approved shorts sales. The lowest sale price in Country Club Estates for the first 3 quarters of the year was $215,000 for a bank owned home located at 1514 Tan O’Shanter, a 3 bedroom, 2 bath with 1,073 square feet. The highest sale price this year was $529,000 for 1605 Skyline, a 4 bedroom, 3 bath with 2,748 square feet. This was an approved short sale.

During the first 3 quarters of 2010 the median dollar per square foot for Country Club Estates homes was $213.00 and the average dollar per square foot was $206.00. In 2011 the median dollar per square foot increased to $216.00 and the average decreased to $196.00 for the first 3 quarters of the year.

As of October 26th, 2011 there are currently 20 homes listed for sale in the Country Club Estates neighborhood of South Lake Tahoe according to the South Tahoe Association of REALTORS’ MLS. The average list price is $453,485 and the median list price is $453,250. The average dollar per square foot for the asking price is $198.00 and the median is $200.00. As for distressed sales in this neighborhood, 3 of the current 20 listings are bank owned and 4 of them will need short sale approval. Out of these 20 listings, 4 of them are currently in escrow. Among the 4 escrows, 1 of them is bank owned and 2 of them will need short sale approval. The average price for the homes in escrow is $377,500 and the median is $349,500. The average dollar per square foot for the asking price of homes on escrow is $157.00 and the median is $156.00.