South Lake Tahoe Real Estate Market Update, July 29- Aug. 4

According to the South Lake Tahoe Association of Realtors’ MLS there were 15 NEW (or back on the market) listings this past week, the same amount as the previous week. The lowest priced new listing was $224,900 for 977 Edgewood, a 2 bedroom, 2 bath with 1247 square feet. The highest priced new listing was $1,495,000 for 2216 Balboa, a 5 bedroom, 2.75 Tahoe keys home with 2919 square feet of living space. The overall median asking price last week was $459,000.

This past week there were more NEW ESCROWS than there were new listings. The South Tahoe MLS shows 22 pending sales, up 9 from the previous week’s 13. The lowest pending sale price was $139,900 for 3606 Birch, a 3 bedroom, 2 bath in the Ski Run area with 1162 square feet. The highest pending sale price was $799,000 for 2242 Alice Lake, a 3 bedroom, 3 bath Montgomery Estates home with 3974 square feet. The overall median home price among last week’s pending sales was $322,450 with an average time on the market of 39 days.

There were 12 CLOSED sales this past week, up 4 from the previous week’s 8. The lowest sale price was $175,000 for 3324 Ash, a 2 bedroom, 1 bath with 660 square feet. The highest sale price for the week was $625,000 for 1992 Marconi, a 3 bedroom, 2.5 bath in the Tahoe Keys with 2663 square feet. The overall median sale price was $213,500 with an average time on the market (including the escrow period) of only 47 days.