South Lake Tahoe Real Estate Market Update, Mar. 11- Mar. 17

What a week within the South Lake Tahoe real estate market.  There were 16 NEW (or back on the market) Listings over the past week according to the South Tahoe Association of Realtors, 2 more than the previous week’s 14.  The lowest priced new listing is $163,900 for 1133 Glenwood, a 4 bedroom, 2 bath with 1854 square feet.  As you can see by the price, it could use a bit of TLC but what an investment opportunity. The highest priced new listing is $749,000 for 1917 Cathedral, a 3 bedroom, 2 bath with 2363 square foot home within the Tahoe Keys.  The median listing price among this group was $351,950.

The best news was that there were also 16 homes that went into ESCROW last week, 5 more than the previous week’s 11.   The lowest priced new escrow is 159,900 for 1353 Meadow Crest, a bank owned fixer with 5 bedrooms, 2 baths and 1860 square feet.   The highest priced new escrow is $939,000 for 344 Uplands, a 4 bedroom, 3 bath with 2940 square feet of living space located within desirable Angora Highlands. The median pending asking price is $407,000 (which is higher than the current median home price sold) with an average time on market of 94 days.

Last week showed 8 CLOSED sales. The lowest sale price was $210,000 for 3600 Paradise, a 2 bedroom, 1 bath with 960 square feet and a bonus lot (congratulations to Jaime Souers with the Pinnacle Real Estate Group). The highest sale price was $912,500 for 366 Ala Wai #271, a lakefront condo within the Tahoe Keys that included 3 bedrooms, 2 baths and 1558 square feet.  The median sale price was $517,500 with an average time on the market of 95 days.  Again, this median home price was above the overall median for the past four months.