South Lake Tahoe Real Estate Market Update, Apr. 1- Apr. 7

The South Lake Tahoe market typically “takes a nap” this time of year however such is not the current case.  Whether it is due to the low interest rates, tax credits or simply affordable prices, the activity among home buyers and sellers is holding steady.  According to the South Lake Tahoe Association of Realtors there were 22 NEW (or back on the market listings). Up 5 from the previous week’s 17 new listings. The lowest priced new listing is 1040 Fairway for $164,900, this home is a 2 bedroom, 1 bath with 1044 square feet and it is bank owned.  The highest priced new listing is $1,795,000 for 358 Beach, a 4 bedroom, 4 bath with 3443 square feet.  Overall, the median listing price this week was $389,500.

There were 15 homes that went into ESCROW this past week, 2 less than the week before. The lowest priced new escrow is listed at $129,900 for 1596 Arapahoe, a fixer home with an unfinished top floor addition. The highest priced new escrow is $729,000 for 1857 High Meadow Trail, a 3 bedroom, 2.5 bath with 2900 square feet.  The median pending asking price is $299,000 with an average time on the market of 54 days.

This past week showed 8 CLOSED sales, down 6 from the previous week’s 14.  The lowest sale price was $269,000 for 535 Cochise, a 3 bedroom, 2 bath with 1440 square feet. The highest sale price was $677,000 for 2225 Minal, a 3 bedroom, 2.5 bath home on the river with 2747 square feet. The median sale price was $420,000 with an average time on the market of 108 days.