South Lake Tahoe Real Estate Market Update, Sept. 2- Sept. 8
As the summer begins to set, the South Lake Tahoe real estate market begins its countdown as to the seasonal countdown. So far, all continues to look good. According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 17 NEW (or back on the market) listings this past week. This is the same number of new listings as the previous week. Out of this group of new listings, the lowest asking price is $129,900 for a bank owned fixer located at 1041 River in the Sierra Tract neighborhood. This home has 3 bedrooms, 1 bath and 810 square feet. The highest priced new listing among this group is $1,349,000 for 2189 Balboa, a 3 bedroom, 3 bath Tahoe Keys home with 2160 square feet of living space. The overall median asking price for new listings this past week was $445,000.
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.
South Lake Tahoe Real Estate Market Update, Aug. 26- Sept. 1
Where Else but Lake Tahoe
There’s a reason people continue to desire Lake Tahoe real estate. There’s a reason we live in Lake Tahoe. For most of us, our investments and wealth comes not in paychecks but rather in the richness of simplicity. Case in point, this photo taken during a Tuesday Night Beach Dinner where attendees donned some spiffy attire and headed off to dine in the sand. Perhaps the lifestyle is one of the driving forces behind the current stabilizing of the Lake Tahoe real estate market.
According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 17 NEW (or back on the market) listings this past week, down 4 from the previous week’s 21. Out of this new listing group, the lowest priced home was $140,000 for 2055 Lukins Way, a 3 bedroom, 1 bath home with 1200 square feet of living space. This house is located in the Tahoe Island neighborhood. The highest priced new listing among this group was $674,900 for 477 Lido, a 4 bedroom, 2 bath with 2755 square feet located in the Tahoe Keys. The overall median asking price for new listings was $284,900.
This past week there were 13 new PENDING ESCROWS, down 3 from the previous week’s 16. The lowest pending sale price from this group was $275,000 for 2301 Eloise, a 3 bedroom, 2 bath with 1792 square feet located in the Tahoe Island area. The highest pending sale list price this past week was $1,150,000 for 636 Alpine. This is another Tahoe Keys home with 4 bedrooms, 3 baths and 3737 square feet of living space. The overall median home price among last week’s pending sales was $414,000 with an average time on the market of 87 days.
The number of CLOSED SALES increased again with a total of 13 this past week, up 1 from the previous week’s 12 and up 9 from 2 weeks ago when there were just 4 recorded sales. The lowest recorded sale price within this group was $128,000 for 2683 Pinter. This house is in the Sierra Tract neighborhood and has 2 bedrooms, 1 bath and 696 square feet lof living space. The highest sale price was $1,225,000 for 2176 White Sands. This home has 5 bedrooms, 3.5 baths, 3206 square feet and is located in the Tahoe Keys neighborhood. The overall median sale price was $280,000 with an average time on the market (including the escrow period) of only 78 days.
As of September 2, 2010 there are 607 active listings on the South Lake Tahoe Association of Realtors MLS. out of these 607, 109 of them are currently in escrow. Out of the 109 pending escrows, there are 30 that are awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Aug. 19- Aug. 25
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.
South Lake Tahoe Real Estate Market Update, Aug. 5- Aug. 11
August Bloom-fest in South Lake Tahoe
Mid summer in South Lake Tahoe is magical in so many ways. But then again, when is it not magical in the Sierras? Besides ideal weather, pristine blue skies and a lake that will take your breath away, the wildflowers are, according to the locals, “the BEST ever.” It seems as though the majority of the various species are all blooming at once. In keeping with the wildflowers, the local real estate market continues to be having its own “bloom-fest” at the moment. According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 17 NEW (or back on the market) listings this past week, up 2 from the previous week’s 15. Among the this group, the lowest priced new listing was a mere $140,000 for 3765 Alder. This property is a 1 bedroom, 0.75 bath cabin with 532 square feet of living space. At the other end of the spectrum, the highest priced new listing was $980,000 for 1603 Bel Aire Circle, a 3 bedroom, 2.5 bath luxury home with 2733 square feet of living space and water features including waterfalls.The overall median asking price last week was $400,000. This is slightly higher than the current median home price of $326,500 for sales during the past twelve months.
New ESCROWS continue along a strong trend with 17 this week, slightly down from the 22 posted last week. The lowest pending sale price among this group was $119,900 for 3598 Terry Lane #38, a 2 bedroom, 1 bath condo with 896 square feet of living space. The highest pending sale price was $1,127,900 for 2176 White Sands, a 5 bedroom, 3.5 bath Tahoe Keys home with 3206 square feet of living space and 85 feet of water frontage. The overall median home price among last week’s pending sales was $324,900 with an average time on the market of 76 days.
CLOSED sales remain rather consistent with 11 reported sales during this past week, down only 1 from the previous week’s reported 12. The lowest sale price within this group was $58,000 for 3798 Aspen (shall we say “contractor’s special?”) which was a 1 bedroom, 1 bath with 551 square feet. The highest sale price was $610,000 for 1072 Turnback, a 3 bedroom, 3 bath Montgomery Estates bank-owned home with 3,453 square feet. The overall median sale price was $261,000 with an average time on the market (including the escrow period) of 78 days. Of course, the sale on Aspen brought this value down considerably. Overall, the good news continues to come our way.
South Lake Tahoe Real Estate market Update, July 22- July 28
According to the South Lake Tahoe Association of Realtors’ MLS there were 15 NEW (or back on the market) listings this past week. The lowest priced new listing was $210,000 for 1137 Keller, a 2 bedroom, 1 bath with 816 square feet. The highest priced new listing was $2,888,000 for 739 Lakeview, a 3 bedroom, 3 bath lake front home with a private dock and 3839 square feet. The overall median asking price last week was $325,000.
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.