South Lake Tahoe Real Estate Market Update, July 8- July 14

According to the South Lake Tahoe Association of Realtors’ MLS there were 26 NEW (or back on the market) listings, down 3 from the previous week’s 29. The lowest priced new listing was $149,900 for 1071 Reno, a 2 bedroom, 1 bath with 864 square feet. The highest priced new listing was $1,450,000 for 359 Beach St, a 5 bedroom, 5 bath with 4686 square feet located in the Tahoe Keys. The overall median asking price last week was $377,400.

There were 18 NEW ESCROWS this past week, up 10 from the previous week’s 8.  The lowest pending sale price was $65,000 for 3798 Aspen, a 1 bedroom, 1 bath with 551 square feet.  The highest pending sale price was $775,000 for 2301 Cold Creek (way to go Pinnacle), a 4 bedroom, 3.5 bath with 3330 square feet.  The overall median home price among last week’s pending sales was $284,450 with an average time on the market of 48 days.

There were 6 CLOSED sales this past week, up from the previous week’s 3.  The lowest sale price was $180,000 for 2640 Bertha, a 2 bedroom, 1 bath with 1176 square feet.  Both the buyer and seller were represented by the Pinnacle Real Estate Group .  At the same time, the seller of the highest priced sale was also represented by Pinnacle.  This Montgomery Estates home was located at 2232 Columbine, feautred 7 bedrooms, 5 baths and 4746 square feet and sold for $1,150,000.The overall median sale price for the past week was $337,500 with an average time on the market (including the escrow period) of 283 days which is slightly higher than the $326,500 median home price posted as an average for the previous 12 months.