Highland Woods, South Lake Tahoe Real Estate Market Update, Aug. 29, 2010

Full Moon, Baldwin Beach

When studying the market activity for Highland Woods on a year to date basis (January. 1 through August 29th,) the South Tahoe Association of Realtors’ multiple listing data reports declining numbers other than the time on the market.

As we continue to remind readers, it is important to distinguish between the difference of median and average home prices.   The median is generally the strongest indicator of market trends as it represents the middle of the road in that just as many homes sold above as below that price.  The average, while often quoted, can be misleading and thrown off by an unusually high or low sale.  However, it can also show that there have been some strong (or weak) sales that are not the norm for an area.

Between January 1 and August 29th, 2010, the Highland Woods neighborhood experienced 5 closed escrows, including one PUD.   There were 7 reported sales during the same period in 2009.  Following are the reported sales thus far:

Address                         Sold Price   % of List       SF        $/SF    Bed/Ba/Ga    DOM    Yr. Blt.
1002  Silverwood         $299,000     100.0        1202     $249       3/2/2             47        1983
2996  Springwood          315,000       90.2         1664     $189       3/2/2             96        1976
2888 Lakewood              267,500       89.5         1416     $189       3/2/0            106        1973
2452  Ponderosa             263,000       89.2         2316    $114        3/2.5/2        130        1991
957  Tanglewood             227,000       92.7         1216     $187       3/2/0              41        1976

The following data is for the Highland Woods area, excluding any PUD sales:  So far, in 2010, the median home list and sold prices respectively are $99,000 and $283,250 reflecting a list to sale ratio of 94.7%.  During the same period in 2009, the median home list and sale prices were $$349,900 and $342,000 with a list to sale ratio of 97.7%). In 2010 the median time on the market (from list to close) was  101 days in and 67 days in 2009.

The average list and sold prices in 2010 were $310,475 and $286,125 (92.1% list to sale) with an average time on the market of 95 days and a dollar per square foot value of $185.  During the same period in 2009, the average list and sale prices were $354,343 and $340,943.  The list to sale ratio was 96.2%, a dollar per square foot of $219 and an average of 150 days on the market.

As of this posting date, there are 10 homes currently listed within the Highland Woods neighborhood.  The median list price of the homes currently for sale within the area is $393,500 with an average dollar per square foot price of $225.  The lowest priced listing is $285,000 for a 3 bedroom, 1.75 bath home located at 927 Tanglewood Drive.  The  highest priced listing is $575,000 for a 2.5 bedroom, 5 bath home with 2,021 SF built in 2006 located at 927 Candlewood Dr.

There is a great deal more to learn about the Highland Woods within the South Lake Tahoe real estate market.