The number of NEW PENDING escrows over the past week was 33! This number is up 15 from the previous week’s 18. The lowest pending list price from this group was $79,900 for 645 Kiowa in the North Upper Truckee neighborhood. This home is a bank owned property with mold damage. It has 2 bedrooms, 2 baths and 1040 square feet. The highest priced home that went into escrow over the past week is listed at $1,050,000 for 3371 Lake Tahoe Blvd #2 A-D. This is for 4 timeshares of a lakefront townhome with 4 bedrooms, 4 baths and 3327 square feet, it is currently bank owned. The overall median asking price for homes that went into escrow was $239,000 while the average overall was $279,165. The average time on the market for these homes was 87 days.

As for the CLOSED escrows, there were 10 reported sales over the past week, down 2 from the previous week’s 12 sales. The lowest recorded sale price within this group was $121,500 for 3685 Rocky Point in the Stateline/ Heavenly area. This home has 3 bedrooms, 1 bath and 912 square feet. The highest recorded sale last week sold for $900,000 for 2158 Morro in the Tahoe Keys. This home has 3 bedrooms, 3 baths and 2685 square feet.  The overall median sale price was $401,000 and the overall average was 374,720. The average time on the market was 142 days (this includes the escrow period).

As of May 9th 2012, there are currently 409 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 409 active listings, 168 of them are in escrow. Among the 168 escrows, 67 are subject to bank approval for a short sale.

The number of NEW PENDING escrows over the past week was 18, down 6 from the previous week’s 24. The lowest pending list price from this group was $120,000 for 2943 Oakland in the Al Tahoe area. This home has 3 bedrooms, 2 baths and 1383 square feet. The highest priced home that went into escrow over the past week is listed at $535,000 for 191 Glenmore in Angora Highlands. This home has 3 bedrooms, 3 baths and 2896 square feet of living space. The overall median asking price for homes that went into escrow was $344,450 while the average overall was $324,265.

As for the CLOSED escrows, there were 12 reported sales over the past week, up 2 from the previous week’s 10 sales. The lowest recorded sale price within this group was $35,000 for a bank owned condo located at 1223 Bonanza (congratulations to Flip Walker from Pinnacle). This condo has 2 bedrooms, 1 bath and 1064 square feet. The highest recorded sale last week sold for $580,000 for 1801 Jicarilla in the Pioneer Trail area. This home has 4 bedrooms, 3 baths and 3039 square feet. The overall median sale price was $192,500 and the overall average was 223,959. The average time on the market was 131 days (this includes the escrow period).

As of May 2nd 2012, there are currently 402 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 402 active listings, 155 of them are in escrow. Among the 155 escrows, 62 are subject to bank approval for a short sale.

The number of NEW PENDING escrows over the past week was 24, up 2 from the previous week’s 22. The lowest pending list price from this group was $135,000 for 927 Sagewood in Highland Woods, a 3 bedroom, 2 bath with 1216 square feet. The highest priced home that went into escrow over the past week is listed at $1,375,000 for 332 Uplands in the Angora Highlands neighborhood. This home has 5 bedrooms, 5 baths and 3472 square feet of living space. The overall median asking price for homes that went into escrow was $270,000 while the average overall was $345,392. The average time on the market for these pending sales was 106 days.

As for the CLOSED escrows, there were 10 reported sales over the past week, down 5 from the previous week’s 15 sales. The lowest recorded sale price within this group was $35,000 for a bank owned condo located at 1223 Bonanza #36 in the Y neighborhood. This condo has 2 bedrooms, 1 bath and 1064 square feet (congratulations to Flip Walker from Pinnacle). The highest recorded sale last week sold for $332,000 for 1250 Pine Valley in the Pioneer Trail area. This home has 3 bedrooms, 2 baths and 2159 square feet. This was a bank owned home. The overall median sale price was $192,500 and the overall average was 176,900. The average days on the market was 135 (including the escrow period).

As of April 26th, 2012, there are currently 395 active homes and condos on the market according to the South Tahoe Association of REALTORS®’ MLS. Out of the 395 active listings, 145 of them are in escrow. Among the 145 escrows, 60 are subject to bank approval for a short sale.

Country Club Estates – 2012 1^st Quarter Comparisons

The Country Club Estates neighborhood report, much like that being seen throughout South Lake Tahoe, is seeing a decrease in home values yet positive trends in most of the other areas. The following information focuses on the Country Club Estates neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services.  These figures represent the total of or average for the previous twelve months, April 1 through March 31:

The median home price is of $327,000 is considerably higher than the overall of $239,000 reported as the median for all of South Lake Tahoe.  Last year at this time, the median home price for Country Club Estates was $485,000.  This significant drop in value for the Country Club Estates neighborhood is a result of the majority of sales taking place being among the lower priced/older/smaller homes that were sold.  Although this neighborhood is known for its newer/larger homes, there were very few sales within that category during the past 12 months.

In the rest of the statistical areas we follow, we are finding that the Country Club Estates neighborhood is holding rather steady:  The reports are as follows:  The percent of list to sale price held at 97.3% in 2012 as compared to 97/1% in 2011. The number of closed sales saw an improvement with 22 in 2012 as compared to 17 in 2011. The average time on the market remained steady with 161 days (including the average 45 day escrow)  in 2012 and 165 in 2011.  The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased as well with 9.4 months in 2011 to 7.1 months in 2012.

The following presented by the South Lake Tahoe Association of REALTORS MLS represents a comparison of just the first three months in 2012 as to 2011.  Compared to the first quarter of 2011, 2012 is starting off with a bang for the Gardner Mountain area.

Gardner Mountain – 2012 1^st Quarter Comparisons

The following information focuses on the Gardner Mt. neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services.  These figures represent the total of or average for the previous twelve months, April 1 through March 31:

The median home price is currently lower at $199,000 than the overall of $239,000 reported as the median for all of South Lake Tahoe.  Last year at this time, the median home price for Gardner Mountain was $244,000.

Positive news was found in the following categories:  The percent of list to sale price increased slightly from 95% to 97.3%.  The number of closed sales increased slightly from 21 in 2011 to 24 in 2012.  The average time on the market remained the same at 130 days (including the average 45 day escrow.)  The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased dramatically from 11 months in 2011 to only 5.9 months in 2012.

The following presented by the South Lake Tahoe Association of REALTORS MLS represents a comparison of just the first three months in 2012 as to 2011.  Compared to the first quarter of 2011, 2012 is starting off with a bang for the Gardner Mountain area.

Christmas Valley 2 – 2012 1^st Quarter Comparisons

The following information focuses on the Christmas Valley 2 neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services.  These figures represent the total of or average for the previous twelve months, April 1 through March 31:

The median home price is higher than the overall of $335,000 is higher than the $239,000 reported as the median for all of South Lake Tahoe and higher than the $313,500 reported in 2011 at the end of the first quarter.  The percent of list to sale price increased slightly from 95.1% to 95.7%.  The number of closed sales remained fairly consistent with 17 in 2012 and 18 in 2011.  The average time on the market decreased dramatically from 170 to only 128. The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased as well from 7.4 months in 2011 to 6.5 months in 2012.

The following presented by the South Lake Tahoe Association of REALTORS MLS represents a comparison of just the first three months in 2012 as to 2011.

Christmas Valley 1 – 2012 1^st Quarter Comparisons

The following information focuses on the Christmas Valley 1 neighborhood of South Lake Tahoe and are taken from the South Lake Tahoe Association of REALTORS® multiple listing services.  These figures represent the total of or average for the previous twelve months, April 1 through March 31:

The median home price showed a decrease that is more significant than those we are seeing in other areas throughout the region.  This is most likely due to an exceptionally high sale reported in 2011.  In 2012, the median home price was posted as $255,000 as compared to $424,500 in 2011.  The percent of list to sale price decreased slightly from 96% to 94.9.  The number of closed sales increased from 10 in 2011 to 15 during the same time period leading up to this March 31^st.  The average time on the market decreased from 182 to a 131. The monthly supply of homes for sale (an average of how long it will take to sell the current inventory) decreased as well from 7.6 months in 2011 to 6.3 months in 2012.

The number of sales that have taken place in the first quarter in both 2011 and 2012 are too low to actually give any weight to the outcome.  Never-the-less, here they are: