Tahoe Paradise 2nd Quarter Market Comparison Report

Tahoe ParadiseThe Tahoe Paradise 2nd quarter market comparison report shows positive notes in almost all of the categories we follow regarding the market trends. When comparing the market for first half of the year in 2014 to 2013, we find that the amount of sales increased as did the median sale price and the dollar per square foot. However, the list to sale price ratio decreased. The median days on the market went down in 2014 (the time a home is on the market from the listing date to the close of the sale).

Yearly Comparison20142013
Number of Sales1612
Median Home Price$350,000$332,000
Average List to Sale Ratio97.9%101%
Days on the Market90100
Month Supply of Homes2.72.8

Current Market Conditions 

As of July 29th, 2014 the Tahoe Paradise neighborhood reports 22 homes on the market (active and in escrow)  ranging from a minimum of $239,000 to a high of $1,299,000.  The basic law of supply and demand is described in real estate terms as the “absorption rate.”  Absorption rate (or monthly supply of inventory) are a calculation based upon the rate of closed sales to active listings.  It is an accurate way to keep track of market trends.  It is considered a balanced market when there is a six-month supply of homes  available for sale.  This indicates that that there is enough inventory to supply the current demand of buyers looking to purchase.  Less than six months is considered a seller’s market and greater than six months is a buyer’s market.  As of June 30th, 2014 the Tahoe Paradise neighborhood is reporting a month supply of  2.7 as compared to 2.8 for the same time in 2013.

Bijou 1 and 2, 2nd Quarter Market Report

Bijou1Bijou2The Bijou 1 and 2 neighborhoods for the 2nd quarter market  report showed positive notes in all of the categories we follow regarding the market trends. When comparing the market for first half of the year in 2014 to 2013, we find that the amount of sales increased, the list to sale price ratio increased, the median home price increased as did the dollar per square foot amount.  The median days on the market also improved in 2014 (the time a home is on the market from the listing date to the close of the sale.)

Yearly Comparison20142013
Number of Sales1513
Median Home Price$245,100$275,000
Average List to Sale Ratio96.1%96.5%
Days on the Market8060
Month Supply of Homes10.59.8

Current Market Conditions 

As of July 8th, 2014 the Bijou 1 and 2 neighborhoods reports 28 homes on the market (active and in escrow)  ranging from a minimum of $195,000 to $1,350,000.  The basic law of supply and demand is described in real estate terms as the “absorption rate.”  Absorption rate (or monthly supply of inventory) are a calculation based upon the rate of closed sales to active listings.  It is an accurate way to keep track of market trends.  It is considered a balanced market when there is a six-month supply of homes  available for sale.  This indicates that that there is enough inventory to supply the current demand of buyers looking to purchase.  Less than six months is considered a seller’s market and greater than six months is a buyer’s market.  As of June 31st, 2014 the Al Tahoe neighborhood is reporting a month supply of 2.8 as compared to 4.2 for the same time in 2013.

Gardner Mountain 2nd Quarter Market Comparison Report

Gardner MountainThe Gardner Mountain 2nd quarter market comparison report shows positive notes in just about all of the categories we follow regarding the market trends. When comparing the market for first half of the year in 2014 to 2013, we find that the amount of sales increased, the list to sale price ratio stayed about the same, the median home price actually decreased but the dollar per square foot amount went up quite a bit. The median days on the market increased in 2014 (the time a home is on the market from the listing date to the close of the sale.)

Yearly Comparison20142013
Number of Sales1513
Median Home Price$245,100$275,000
Average List to Sale Ratio96.1%96.5%
Days on the Market8060
Month Supply of Homes10.59.8

Current Market Conditions 

As of July 8th, 2014 the Gardner Mountain neighborhood reports 15 homes on the market (active and in escrow)  ranging from a minimum of $235,000 to $569,900.  The basic law of supply and demand is described in real estate terms as the “absorption rate.”  Absorption rate (or monthly supply of inventory) are a calculation based upon the rate of closed sales to active listings.  It is an accurate way to keep track of market trends.  It is considered a balanced market when there is a six-month supply of homes  available for sale.  This indicates that that there is enough inventory to supply the current demand of buyers looking to purchase.  Less than six months is considered a seller’s market and greater than six months is a buyer’s market.  As of June 30th, 2014 the Gardner Mountain neighborhood is reporting a month supply of 2.9 as compared to 5.3 for the same time in 2013.

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Home Sales Report - Lake Tahoe

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Lake Tahoe Homeowners Near Water Have a Reprieve From Proposed Insurance Hikes

Tahoe Blue and GoldLake Tahoe homeowners located near our beautiful waters will be pleased to hear the following news regarding their potential insurance premiums.  With all of Lake Tahoe’s recent rain and snow (thank goodness) we thought the timing of the U.S. Senate’s passing of the Homeowner Flood Insurance Affordability Act (March 13, 2014) was perfect.   This act was aimed at curbing flood insurance rate hikes for homes and commercial properties. The National Association of REALTORS® President, Steve Brown stated that this bill brings relief and protection to home and business owners across the nation through a “slow and steady phase in of risk-based increases.”  The Senate vote was a rather quick response set off by the Biggert-Waters reforms to the National Flood Insurance Program which could have added additional financial hardships as a result of drastic increases in premiums.  Proponents of this bill feel that rolling back the bill is a huge mistake.  Their reasoning is that “homeowners just shouldn’t be living in flood zones, and their rising insurance rates were meant to reflect that. This is especially true in coastal flooding zones where rising sea levels due to climate change, extreme weather events and human-induced erosion and environmental degradation can make the risks outweigh the benefits, and the costs — for which taxpayers are liable — exceedingly high.” Click Here to Learn More About “Both Sides of the Story.”

According to the Insurance Journal,  “The Senate bill would halt premium hikes by retaining most flood insurance subsidies for four years to give the Federal Emergency Management Agency (FEMA) time to complete an affordability study and guarantee that its flood maps are accurate. The bill would also grandfather low rates for homeowners placed into a flood zone for the first time or moved into a higher-risk flood zone due to remapping.

The National Association of REALTORS® (of which we are very proud members) is a leading advocate for home and property owners and it always brings a smile to my face when I see the results of their hard and dedicated work.  The logic behind the bill was understandable and we can see both sides of the argument.  However, the bill as it stood,  was going to produce at least a 20% rate hike immediately and didn’t have enough supporting information to be fully implemented.  The association gave special credit to the bipartisanship efforts of Senators Robert Menendes (D) from New Jersey, Johnny Isakson (R) from Georga and Mary Landrieu (D) from Louisiana.  Way to go team!

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