Lake Tahoe Real Estate, Weekly Market Update, July 10 – 16

What a great week in South Lake Tahoe.  The smoke is gone, the weather is fabulous and the phones are ringing in the real estate industry.  Okay, records are being set and homes are selling like they used to, but there are definitely smiles all across town.  I suppose that is what brilliant blue skies can do for one’s overall disposition.

Just as in the previous week, the South Lake Tahoe Association of Realtors’ MLS reported 20 new or “back on the market single family & condo residential listings.  The low end of the value range was a 2 bedroom condo on Ski Run near Heavenly Mt. for $242,000 while the top end featured a newer 4 home waterfront home in the Tahoe Keys asking $1,635,000.

New pending sales totaled 8 (down from last week’s 11) starting at $199,900 for a smaller cabin to $1,400,000.  The latter was, once again, a waterfront home in the Tahoe Keys.  The median asking price for these 8 homes is $425,500.

Closed sales totaled 5 (again the same as last week) starting with a 2 bedroom, 2 bath home in the Pioneer Trail area for $363,000 to a high of $725,000 for a 4 bedroom, 2 bath home on a fabulous setting within the North Upper Truckee area.  The median for these 5 homes was $423,000.

It is of interest to note that last year, we reported the same number of sales for the same exact dates.  The median home price at that time was $430,000, only slightly higher than what we are seeing this hear despite the media’s focus on the current housing & mortgage troubles. 

THIS WEEK’S HOME OF THE WEEK is 687 Julie in Garner Mountain.  This must be one of the best deals in today’s market.  Brand new, this archetictural design features alder cabinets, travertine floors, two laundries, lofty vaulted ceilings, a stone fireplace and three full baths.  Best of all, it is located within a short walk to the Fallen Leaf Lake Trails, a short bike ride to the best beaches along Lake Tahoe and just a few short minutes to Heavenly Skiing.  All of this for only $699,000. Click here to take a visual tour.  We hope you enjoy this tour and please, pass it along to anyone you feel could be interested.