South Lake Tahoe Real Estate Market Update, Feb. 18- Mar.3

It has been a rather busy couple of weeks here in the South Lake Tahoe real estate market.  According to the South Tahoe Association of Realtors, the South Lake Tahoe real estate market showed 21 NEW LISTINGS over the past 2 weeks. Among this most recent activity, the lowest priced new listing is $185,000 for 837 Tata, a 2 bedroom, 1 bath with 672 square feet. The highest priced new listing is $1,400,000 for 1707 Sherman, a 7 bedroom, 4 bath with 4000 square feet. The median listing price was $399,000.

Now, check this out!  There were 29 homes that went into ESCROW in the last 2 weeks. The lowest priced new escrow is $99,000 for 2196 Big Pine, a 1 bedroom, 1 bath with 475 square feet. The highest priced new escrow is $739,000 for 236 Uplands (yeah Pinnacle for representing both the buyer and the seller), a 4 bedroom, 2.5 bath with 3111 square feet. The median pending sale price is $334,500 with an average time on market of 63 days.

The market continues to show signs of leveling with 15 CLOSED SALES over the past 2 weeks and a variety of styles and price ranges benefitted. The lowest sale price was $75,000 for 1281 Bonanza #5, a 2 bedroom, 1 bath with 840 square feet. The highest sale price was $925,000 for 4135 Saddle, a 2 bedroom, 2 bath with 1874 square feet.  This home sat on a knoll with nearly an acre of land and majestic lake views.  Once the new owners are done with their project, they will have magic on their hands.  Wrapping up the story for the past couple of weeks, the median sale price was $315,750 and the average time on the market (including the escrow period) was 140 days.