East Shore Nevada- South Lake Tahoe Real Estate Market Update, Jan. 13- Jan. 19

Winter is back and excitement about returning to the ski slopes is abundant. With that long awaited event under our belts, let’s move forward to the real estate market report.

According to the Northern Nevada Regional Multiple Listing Services, there are 122 single family homes currently listed for sale throughout the South Lake Tahoe’s Nevada East Shore neighborhoods (as of January 19th, 2012). Among this group of Nevada homes for sale, there are 16 homes currently in escrow. Among these 16 escrows, 9 are still pending bank approval for a short sale. Throughout these 122 active listings, the median list price is $1,270,000 while the average list price is at $2,789,061. Among the 16 homes that are in escrow, the median listing price is $369,500 and the average listing price is $657,181.

There were 3 new listings over the past week for the East Shore side of Lake Tahoe, NV. The lowest new listing price is $459,000 for 654 Jeffrey Lane in the Stateline area. This home has 4 bedrooms, 3 baths and 2,806 square feet of living space.  The highest priced new listing is $2,000,000 for 179 Yerington Circle in the Glenbrook community. This home features 4 bedrooms, 4 baths and 3,097 square feet of living space. The median list price for the new listings is $1,295,000 and the average is $1,251,333. Unfortunately there were no new pending sales reported for the past week either, the same as the week before. There were also no reported sales for single family homes.

As of January 19th, 2012 there are currently 65 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median listing price for these condos is $389,000 and the average listing price is $626,680. Out of these 65 condos on the market, there are 7 that are currently in escrow. Among the 7 pending sales, 4 are subject to bank approval for a short sale. The median price for Nevada condos in escrow is $149,500 and the average is $279,800. This was a very slow week for Nevada condo activity as there were no new condos listed for sale, no new pending sales and unfortunately no recorded sales either.