East Shore NV- South Lake Tahoe Real Estate Market Update, July 25- July 31

According to the Northern Nevada Regional Multiple Listing Services, there are 153 single family homes currently listed for sale throughout the Lake Tahoe’s Nevada East Shore neighborhoods (as of July 31st, 2012). Among this group of Nevada homes for sale, there are 22 homes currently in escrow. Among these 22 escrows, 7 of them are still pending bank approval for a short sale. Throughout these 153 active listings, the median list price is $1,225,000 while the average list price is at $2,544,198. Among the 22 Nevada homes that are in escrow, the median listing price is $359,250 and the average listing price is $764,222.

There was 1 new listings this past week for NV single family homes, down 1 from the previous week’s 2. The new listing is asking $4,500,000 for 120 Vista Drive in the Mid Kingsbury area. This home has 8 bedrooms, 7 baths and 8313 square feet of living space. There were no pending sales over the past week, the same as the week before.  There were 5 closed sales, up 2 from the week before. The median sale price was $1,150,000 and the average was $1,032,800. The lowest sale price alst week was $365,000 for 164 Pine Ridge in Lower Kingsbury. This home has 3 bedrooms, 2 baths and 2200 square feet. The highest sale price was $1,675,000 for 2027 Pray Meadow in Glenbrook. This home has 5 bedrooms, 4 baths and 3052 square feet.

As of July 31st, 2012 there are currently 77 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median listing price for these condos is $365,000 and the average listing price is $522,818. Out of these 77 condos on the market, there are 7 that are currently in escrow. Among the 7 pending sales, 6 of them are still subject to bank approval for a short sale. The median price for Nevada condos in escrow is $198,000 and the average is $223,057. There were no new listings this past week, down 1 from the previous week. There were no new pending sales either, down 1 from the previous week. There were 2 condos that closed escrow last week, up 2 from the previous week. The lowest sale price was $200,000 for a short sale located at 229 South Benjamin B in Kingsbury. This townhouse has 5 bedrooms, 3 baths and 2096 square feet. The highest sale price was $270,000 for a bank owned condo located at 191 Lakeshore Blvd. in Zephyr Cove. This condo has 2 bedrooms, 2 baths and 1144 square feet of living space.