South Lake Tahoe Real Estate Market Update, Mar. 25- Mar. 31

What does the South Lake Tahoe real estate market and the local Sierra snow pack have in common?  They are both showing improved numbers.  Between March 25th and March 31st, there were 16 NEW (or back on the market) listings posted over the past week according to the South Tahoe Association of Realtors.  This number is slightly down from the previous week’s reported  17.  Among these listings, the lowest asking price is $129,900 for 1596 Arapahoe, a 2 bedroom, 1.5 bath home located in the Meyers neighborhood.  This home had an unfinished top floor addition.  The highest priced new listing is $699,000 for 1556 Apache, a 4 bedroom, 2.5 bath with 3200 square feet.  Overall, the median listing price this week was $332,000.  This is up from the current median price of approximately $312,000.

During this same week, there were 17 homes that went into ESCROW this past week.  Wow – especially when you note that last week reported only 7 new escrows. The lowest priced new escrow is $149,900 for 2579 Elwood, a 2 bedroom, 1.75 bath with 826 square feet located in the Sierra Tract neighborhood.  The highest priced new escrow is $875,000 for 1924 Cathedral, a 4 bedroom, 2.75 bath Tahoe Keys home with 3746 square feet.  The median pending asking price is $3285,000 with an average time on the market of 34 days.

Finally, the last week showed 14 CLOSED sales, up 10 from the previous week’s 4.  The lowest sale price was $150,000 for a 1353 Meadow Crest, a 5 bedroom, 2 bath Black Bart home with 2329 square feet (this home is going to be a rebuilding/ remodeling project).  The highest sale price was $800,000 for 2020 Aloha, a 3 bedroom, 2.5 bath Tahoe Keys with 2329 square feet.  The median sale price was $286,700 with an average time on the market of 94 days.

More information about these homes and neighborhoods can be found on our website or simply give us a call at 530.577.0389 for further information.