Country Club Estates Show Positive Moves in Tahoe Real Estate Market

According to the South Tahoe Association of Realtors MLS, the news is looking a bit better for the Country Club Estates neighborhood. When looking at a comparison of the first four months of 2010 in relation to that of 2009, improvements were noted in several areas. The positive trends were in regards to the number of homes sold, the average sales price, the time on the market and the dollar per square foot. In 2010, there 7 closed escrows averaging a sales price of $365,343 at approximately $230 per square foot and a cumulative time on the market of 158 days. During the same period last year, there were only 3 homes sold at an average sales price of $341,833 with an average $207 per square foot and a cumulative time on the market of 220 days. Although better than 2009, the numbers were slightly lower than the average sales price of $548,980 at $252 per square foot and a cumulative time on the market of 142 days.

The median home price during the first trimester of 2010 was only $312,500 which pretty much in line with the $318,500 median home price found throughout the South Lake area. The median price of $318,500 was down from last year’s $395,000 posted at the end of April.

Following are the seven posted sales for Country Club Estates during the first trimester of 2010.

1887 Elks Club was built in 2005 with 2,678 SF of living space and was a short sale at $565,000.
1637 Sawmill was built in 1976 with 2,000 SF of living space and sold for $310,000.
1636 Thunderbird was built in 1972 with 1,288 SF of living space and was a short sale at $312,500.
1545 Tionontati was built in 1973 with 1,728 SF of living space and was a bank-owned sale at $206,000.
1451 Glen Eagles was built in 1981 with 2,068 SF of living space and sold for $450,000.
1209 Country Club was built in 2005 with only 598 SF of living space and was a bank-owned sale at $228,900.
1863 Crystal Air was built in 2009 with 1,700 SF of living space and was sold over asking at $485,000.

They’re baby steps but we’ll take every step we can.