There were 12 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down 1 from the previous week’s 13.  The lowest pending list sale price from this group was $150,000 for 1410 Ski Run #7, a 2 bedroom, 1 bath with 832 square feet. This condo is located off Ski Run Blvd. near heavenly Ski Resort.  The highest pending sale price over the past week was a Tahoe Keys home listed at $849,000. This home is located at 1603 Venice, also in the Tahoe Keys and has 3 bedrooms, 2 baths and 2,447 square feet of living space. The overall median list price among last week’s pending sales was $344,000 and the overall average was $391,150. The average time on the market was 95 days.

There were 11 CLOSED SALES this past week, down 4 from the previous week’s 15.  The lowest recorded sale price within this group was $85,000 for 3669 Rocky Point Rd.  Located in the Heavenly Valley neighborhood, this home is considered a “fixer” with 2 bedrooms, 1 bath and 648 square feet. This was a traditional sale, not a foreclosure or a short sale.  The highest sale price last week was 2153 Oaxaco which sold for $650,000. This home is a brand new construction located in the North Upper Truckee neighborhood and has 4 bedrooms, 2.5 baths and 2,685 square feet. This was also a traditional sale.  The overall median sale price for this past week was $2,879,999 and the overall average was $337,982. The average time on the market (including the escrow period) was 193 days.

As of October 13, 2010 there are 531 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services.  Out of these 531 listings, 107 are currently in escrow. Of the 107 pending escrows, there are 48 that are currently awaiting bank approval for a short sale.

This past week there were 21 new PENDING ESCROWS (WOW!) according to the South Tahoe Multiple Listing Services, up 8 from the previous week’s 13 pending sales.  The lowest pending sale price from this group was a fixer upper listed at $98,200 for 3669 Rocky Point. This home is located near Heavenly Valley Ski Resort and has 2 bedrooms, 1 bath and 648 square feet.  The highest pending sale price over the past week was $605,000 for 2383 Wagon Train, a 4 bedroom, 3 bath with 3426 square feet. This home is bank owned and is located in the Montgomery Estates neighborhood.  The overall median listing price among last week’s pending sales was $269,000 with an average time on the market of 77 days.

The number of CLOSED SALES over this past week was 9, down 4 from the previous week’s 13.  The lowest recorded sale price within this group was $209,000 for 2322 Sky Meadows, a 3 bedroom, 2 bath with 1280 square feet within a PUD area near the Tahoe Keys. The highest sale price was for a stunning lake front home with panoramic views for $3,575,000 located at 231 Beach Dr. This is a 4 bedroom, 5 bath Tahoe Keys home with 4139 square feet.  The overall median sale price was $485,000 with an average time on the market (including the escrow period) of 84 days.  This median sale price is higher than the current average for the South Lake Tahoe area and most likely, affected by the sale on Beach Drive.

As of September 8, 2010 there are 601 active listings on the South Lake Tahoe Association of Realtors MLS. Out of these 607 listings, 117 of them are currently in escrow. Out of the 109 pending escrows, there are 33 that are awaiting bank approval for a short sale.

Care Free in Tahoe

With temperatures nearing the 90′s, it is hard to believe that summer is winding to a halt.  Never-the-less, here we are, August 26th.  Check out the photo my dear friend, Dewitt Jones took of Miss Aubrey.  Wouldn’t it be nice if we could all just be this carefree?

Enough sighing, let’s take a look at the past week’s South Lake Tahoe’s real estate activity.  According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 21 NEW (or back on the market) listings this past week.  This number is up 7 from the previous week’s 14.  Among the this group, the lowest priced new listing was $135,000 for a Bijou neighborhood condo located at 3344 Sandy Way #5.  This condo has 2 bedrooms, 1 bath and 812 square feet of living space.  The highest priced new listing was $999,000 for a Tahoe Keys home located at 392 Wedeln Ct.  This home has 4 bedrooms, 2 baths, a boat dock and 2240 square feet of living space.

Along with an increase in the number of new listings, we also saw an increase in the number of new escrows.  This past week there were 16 new PENDING ESCROWS, up 3 from the previous week’s 13. The lowest pending sale price from this group was $159,000 for a cabin located at 3776 Markoffer Way with 3 bedrooms, 0.75 baths and 676 square feet of living space.  The highest pending sale list price this past week was $620,000 for a Tahoe Keys home located at 1685 Venice. This home has 3 bedrooms, 3 baths and 2328 square feet of living space. This escrow is pending bank’s approval for a short sale.The overall median home price among last week’s pending sales was $324,000 with an average time on the market of 81 days.

And, to top off the good news, fortunately the number of CLOSED escrows increased quite a bit from the previous week. This week there were 12 recorded sales, up 8 from the previous week’s 4. The lowest recorded sale price within this group was just $65,000 for 1223 Bonanza #72. This is a condo located in the Y area with 2 bedrooms, 1 bath and 841 square feet of living space. The highest sale price was $600,000 for 2152 Inverness, a Tahoe Keys home with 3 bedrooms, 2.5 baths and 1872 square feet.  The overall median sale price was $261,000 with an average time on the market (including the escrow period) of 120 days.

As of August 26, 2010, there are 614 homes listed for sale within the South Tahoe Association of Realtors’ multiple listing services.  The median asking price is $379,000.  Of those 614 listings, 161 are in escrow with 29 of those pending banks’ approvals for short sales.

There were almost as many NEW ESCROWS this past week as there were new listings with a total of 13 pending sales. The lowest pending sale price was $199,900 for 2171 Royal, a 2 bedroom, 2 bath with 1420 square feet.  The highest pending sale price was $849,000 for 2030 Garmish, a Tahoe Keys home with 4 bedrooms, 2 baths and 2338 square feet.  The overall median home price among last week’s pending sales was $479,000 with an average time on the market of 58 days.

There were also 8 CLOSED sales this past week. The lowest sale price was $135,000 for 681 Eloise #4, a 2 bedroom, 1 bath with 980 square feet.  The highest sale price for the week was $465,900 for 1903 Talbot, a 3 bedroom, 2.5 bath located in Montgomery Estates with 2464 square feet. The overall median sale price was $213,500 with an average time on the market (including the escrow period) of 116 days.

There were 7 NEW ESCROWS this past week, up 1 from the previous week’s 6. The lowest pending sale price was $179,900 for 2529 Osborne, a 2 bedroom, 1 bath with 775 square feet. The highest pending sale price was $895,000 for 2245 Del Norte, a Montgomery Estates home with 4 bedrooms, 3 baths and 4407 square feet. The overall median home price among last week’s pending sales was $349,000 with an average time on the market of 102 days.

Fortunately there was a large increase in the number of homes that were sold this past week. There were 18 CLOSED sales, up 10 from the previous week’s 8. The lowest sale price was $148,000 for 1008 Eagle, a North Upper Truckee home that needs to be entirely rebuilt with 3 bedrooms and 1992 square feet. The highest priced sale was $875,000 for 344 Uplands, a 4 bedroom, 3 bath with 2940 square feet. The overall median sale price for the past week was $327,000 with an average time on the market (including the escrow period) of 121 days.

There were only 6 NEW ESCROWS this past week, down 3 from the previous week’s 9.  The lowest pending sale price was $315,000 for 2691 Yokut St., a 4 bedroom, 2 bath with 1688 square feet.  The highest pending sale price was $499,500 for 535 Christie, a Tahoe keys home with 3 bedrooms, 2 baths and 1734 square feet.  The  overall median home price among the new pending sales was $297,500 with an average time on the market of only 32 days.

There were 8 CLOSED sales this past week, down 7 from the previous week’s 15.  The lowest sale price was $137,500 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet located in the Y neighborhood.  The highest priced sale was $930,000 for 405 Christie, a 4 bedroom, 3 bath with 2050 square feet located in the Tahoe Keys.  The overall median sale price for the past week was $278,500 with an average time on the market (including the escrow period) of just 57 days.

Another positive note is in regards to the 10 new PENDING sales, up from the previous week’s 9.  The lowest asking price for the new pending sales is $149,000 for 681 Eloise #3, a 2 bedroom, 1 bath condo with 980 square feet.  The highest priced new escrow is $675,000 for a bank-owned Tahoe Keys home located at 1992 Marconi Way. This home has 3 bedrooms, 2.5 bath with 2663 square feet.  The  overall median home price among the new pending sales was $324,000 with an average time on the market of 58 days.

The really good news is that there were 8 CLOSED sales this past week, up 3 from the previous week.  The lowest priced sale was a short sale at $190,000 for 1767 Arrowhead, a 3 bedroom, 2 bath with 1040 square feet. The highest priced sale was $735,000 for 1857 High Meadow Trail, a brand new 3 bedroom, 2.5 bath with approximately 2900 square feet. The overall median home price was $308,500 with an average time on the market of 159 days. Over half of these nine sales were distressed sales. Never-the-less, the inventory is moving and buyers are finding great deals.

THIS HOME IS CURRENTLY OFF THE MARKET.

We all hear folks talk about the Tahoe lifestyle and the visions that individuals draw upon can be quite varied. However, one common theme is that of relaxation and putting the stress of daily life behind. One of the easiest and most affordable means by which to grab onto this aspect of Tahoe living, is to find a condominium in a quiet location and surrounded with amenities. Once you check out 1170 Herbert, unit B, you may not need to look any further.
Located at the quiet back end of the Bavarian Village, this street level (convenience right at the door) features three bedrooms (including a master suite) and two baths. The first room one enters is the spacious living room centered around the large open fireplace with stone surround. The carpeting is newer and in excellent condition. Just off to the left is the dining area, large enough for friends and family to gather following a day in the Sierra beauty. The kitchen is open to both the living room and dining area and features newer appliances and plenty of counter space.

Down the hall are the three bedrooms and baths. Each room is rather roomy, especially compared to most condominiums. The home is sold furnished and ready to go. Speaking of relaxation, just bring your toothbrush. Amenities within this complex include snow removal, (see – more reduced stress,) refuse, exterior maintenance, exterior insurance, on-site management and the wonderful pool area. Heavenly Mountain skiing is just up the street as well as Lake Tahoe beaches, shopping, dining and year-round entertainment. Life is good in Tahoe. Start enjoying it now at this surprisingly affordable price.

This past week there were 14 homes that went into escrow, down 5 from the previous week’s 19.  The lowest priced new escrow is listed at $139,000 for 3610 Spruce, #6, a 2 bedroom, 1 bath with 896 square feet. The highest priced new escrow is listed at $799,000 for 2301 Cold Creek, a 4 bedroom, 3.5 bath with 3330 square feet in the Montgomery Estates neighborhood. The median pending asking price was $264,250 with an average time on the market of 103 days.

There were 5 CLOSED sales this past week, down 3 from the previous week’s 8. The lowest sale price was $309,000 for 930 Edgewood Circle, a 4 bedroom, 3.5 bath with 2400 square feet. The highest sale price was $650,000 for 1608 Plumas, a 5 bedroom, 3.5 bath with 3199 square feet. The median sale price was $495,000 with an average time on the market of 100 days. The good news is that this median home price is higher than the overall average.

Looks like the South Tahoe real estate market is not going to experience a period of hibernation in 2010.  According to the South Lake Tahoe Association of Realtors there were 20 NEW (or back on the market listings), one more than the previous week.  The lowest priced new listing is $164,500 for 2580 Fountain within the Sierra Tract neighborhood which is a 2 bedroom, 1 bath with 832 square feet.  The highest priced new listing is $1,300,000 for 2324 Del Norte within the Montgomery Estates neighborhood which is a 4 bedroom, 3 bath with 4145 square feet. The median listing price this week was $369,000.

Now, check this out!  This past week there were 19 homes that went into escrow, 4 more than the precious week’s 15.  The lowest priced new escrow is listed at $164,900 for 1040 Fairway, a 2 bedroom, 1 bath with 1064 square feet.  The highest priced new escrow was a Tahoe Keys home listed for $999,950 which was located at 406 Wedelen, a 4 bedroom, 2.5 bath with 2634 square feet.  The median pending asking price was $298,000 with an average time on the market of 58 days.

There were 8 CLOSED sales this past week, slightly down 2 from the previous week’s 10. The lowest sale price was $144,900 for 2579 Elwood, a 2 bedroom, 1.75 bath with 826 square feet. The highest sale price was for another Tahoe Keys home which sold for $750,000 for 1924 Cathedral which was a 4 bedroom, 2.75 bath with 3747 square feet. The median sale price was $262,500 with an average time on the market of 105 days.

Those of you that have been following the Tahoe market for years will recognize that this busy activity is not normal for this time of year.  Normally, our market goes to “sleep” between April through June.  This sure isn’t the case for Spring, 2010.  Whatever the reason, we will take it.