How can it be?  Summer is winding down.  The good news is that our favorite season of the year is just around the corner.  You simply cannot beat Lake Tahoe in the fall, glorious colors from above and below, ideal temperatures and a slower pace of life. 

The following information is taken from the South Lake Tahoe Association of Realtors as reported on Thursday, August 28, 2008.

The previous week reported 16 new listings marking the fourth week in a row of declining numbers.  Within these 16, the lowest asking price is $150,000  for a 1 bedroom, 1 bath condo along Emerald Bay Highway.  The highest asking price is $745,000 for a 3 bedroom, 2.5 bath home on Lukins Way which is close to beaches, bike trails, and the Tahoe Keys.  Within the new listings, the median home price is $375,000, down from last week’s $459,750.

Check this out! Another strong week of sales with 14 NEW Pending Escrows.  The lowest asking price among these 14 homes is $159,000  for a 2 bedroom, 1 bath condo with 844 SF located within the Y area.  The high end of the pending range is $895,000 for a 3 beroom, 2 bath home with 1,809 square feet of living space within the Tahoe Keys.  The median home price for new pending sales is $459,000, up from last week’s $425,000.  Most surprising is that these homes averaged only 43 days on the market prior to going into escrow.with an average time on the market of only 41 days.

Hats off to the buyers and sellers of the 7 reported closed sales. The lowest asking price among this group was $350,000 for a 4 bedroom, 2 bath home on Seneca in the North Upper Truckee area.  The higest reported sale for the week was $746,000 for a 3 bedroom, 2.5 bath Tahoe Keys home on Garmish.  This home had approximately 2, 500 square feet of living space. The median home price among the closed sales was $410,000.  The average time on the market was 115 days.

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