South Lake Tahoe Real Estate Market Update, June 17- June 23
According to the South Lake Tahoe Association of Realtors MLS there were 33 NEW (or back on the market) listings, up from the previous week’s 26. The lowest priced new listing was 1223 Bonanza #7, a 2 bedroom, 1 bath condo with 841 square feet of living space for $75,000. The highest priced new listing was $3,295,000 for 2412 Cornice Ct., a 7 bedroom, 5 bath home with 7386 square feet. This home is in the Montgomery Estates neighborhood and has spectacular lake, forest and mountain views. The median asking price this past week was $369,000.
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.
South Lake Tahoe Real Estate Market Update, June 3- June 9
Spring has arrived and with it a budding new report from the South Tahoe Association of Realtors. According to the data issued last week, there were (check it out) 28 NEW (or back on the market) listings. This number was considerably up from last week’s 20. Among these new listings, the lowest asking price is $175,000 (shall we say, “contractor’s special”) for 815 South Shore, a 2 bedroom, 2 bath with 1972 square feet. The highest priced new listing was $1,220,000 for breath-taking 2194 Chiapa, a 4 bedroom, 3.5 bath with 3694 square feet. Congrats to Pinnacle. The overall median new listing price for this week’s newest inventory was $304,500 which is below the current overall median home price of $320,000.
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.
1170 Herbert B, South Lake Tahoe, CA
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.
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South Lake Tahoe Real Estate Market Update, May 6- May 12
Our run of reduced listings and higher number of new escrows came to an end last week. We’re hoping that the decline in market activity was due to the amazing snow storm we experienced however, all in all, the numbers are still more encouraging than we normally see this time of year.
According to the South Lake Tahoe Association of Realtors there were 21 NEW (or back on the market listings), one more than the previous week. The lowest priced new listing is $129,000 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet. The highest priced new listing is $999,000 for 1261 Country CLub, a 4 bedroom, 4 bath with 2598 square feet located in the Meyers neighborhood near the Lake Tahoe Golf Course. The median listing price this week was $489,600.
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.
South Lake Tahoe Real Estate Market Update, Apr. 29- May 5
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.