South Lake Tahoe Real Estate Market Update, May 20- May 27

The South Lake Tahoe real estate market plugged along last week, despite the continual snow storms.  It’s May for goodness sakes.  Never-the-less, according to the South Lake Tahoe Association of Realtors’ MLS, there were 18 NEW (or back on the market) listings this past week , down 1 from the previous week;s 19.  Among these new listings, the  lowest priced property was $89,500 for 3798 Aspen, a small 1 bedroom, 1 bath cabin with only 551 square feet.  On the other end of the spectrum, the highest priced new listing was $1,250,000 for 1323 Keller, a 5 bedroom, 4.5 bath with 3231 square feet located at the foot of Heavenly Mountain.  The overall median new listing price for this week’s newest inventory was $307,450.

Slightly down from last week’s 19 new escrows, this past week reported 15 new PENDING sales.  Among these new escrows, the lowest asking price $149,000 for 2055 12th St. #4.  The highest priced new escrow was $959,000 for 405 Christie, a 4 bedroom, 3 bath with 2050 square feet located in the Tahoe Keys.  The  overall median home price among the new pending sales was $365,000 with an average time on the market of 51 days.

There were 11 CLOSED sales this past week.  The lowest priced sale was $155,000 for 3610 Spruce, a 3 bedroom, 2 bath condo with 1210 square feet located in the Bijou neighborhood. The highest priced sale was $925,000 for 2200 Oaxaco, a 6 bedroom, 4 bath with 5448 square feet located in the North Upper Truckee area.  This home was a short sale.  Congratulations to the Pinnacle Real Estate Group. The overall median home price was $277,500 with an average time on the market of 84 days.