South Lake Tahoe Real Estate Market Update, April 11 – 17

Has the recent media attention toward the housing market having an effect on our local market? With reports of February showing the first sign of improvement, the buzz among local Realtors is that the phones are starting to ring and that property tours are on the rise. This past week was no exception.
Within the city limits, just as last week, there were ten new/back on the market listings ranging from a low of $189,000 for a small, in-town cabin to $1,600,00 for a newer luxury home near the Heavenly Ski resort. The trend for to purchase homes under $500,000 continues with two new escrows ranging from $294,750 to $395,000. There were two closed sales at $250,000 and $474,5000. The activity among vacant land was on the rise with 6 new/back on the market listings.
The county area had five new/back on the market listings, down from last week’s 9. These home values ranged from $359,000 – $555,000. There were five new escrows up from the one the previous week. These pending sales ranged from $309,000 – $525,000. There were two closed sales at $250,000 and $555,000. Among the lot activity, there were four new listings ranging from a low of $99,000 to a high of $349,000 for a stunning view lot in the MOntgomery Estates area.
Our choice for the Home of the Week is 2397 So. Upper Truckee, an ultimate Tahoe spa retreat. Click here for a visual tour.