South Lake Tahoe Real Estate Market Update, Nov. 4- Nov. 10
According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 14 NEW (or back on the market) listings this past week, up 5 from the previous week’s 9 new listings. The lowest priced new listing is $182,500 for 2692 Elwood, a 2 bedroom, 1 bath with 912 square feet of living space. This home is bank-owned and located in the Sierra Tract neighborhood. The highest priced new listing this past week tips the scales in the opposite direction at $2,400,000 for 337 Lake Tahoe Blvd. #2. This is a lakefront townhouse with gorgeous lake and mountain views, 4 bedrooms, 4 baths and 3,327 square feet. The overall median asking price for new listings this past week was $321,000 and the overall average asking price was $616,757 (the lakefront condo brought the overall average up).
There were 11 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down 2 from the previous week’s 13. The lowest pending listing price from this group was $199,900 for 864 Rainbow, a 3 bedroom, 2 bathroom home in the Tahoe Island neighborhood. This home has 1,410 square feet and is a bank-owned property. The highest pending sale price over the past week was $1,178,000 for 2172 Balboa, a remodeled Tahoe Keys waterfront home with 5 bedrooms, 5 baths and 1400 square feet. The overall median list price among last week’s pending sales was $329,000 and the average list price was $529,391. The average time on the market was 195 days.
The big news was that there were 15 CLOSED SALES this past week, up 5 from the previous week’s 10. The lowest recorded sale price within this group was $144,000 for 2608 Pinter, a 3 bedroom, 2 bathroom with 928 square feet. This home was a short sale and is located in the Sierra Tract neighborhood. The highest sale price last week was $630,000 for 1938 Osage Circle, another short sale located in the Tahoe Paradise neighborhood. (yeah Pinnacle.) This home has 6 bedrooms, 4 baths and 3,384 square feet. The overall median sale price for this past week was $317,000 and the overall average was a bit higher than the median at $349,800. The average time on the market (including the escrow period) was 166 days.
As of November 10, 2010 there are 502 active single-family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services. Out of these 502 currently active listings, 90 are in the process of escrow. Of the 90 pending escrows, slightly over half (46) are currently awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Sept. 30- Oct. 7
Looks like the change in weather spurred on the Lake Tahoe real estate activity. Okay, perhaps it was just a coincidence but boy howdy, things were sure hopping last week. 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 substantially from the previous week’s 6. The lowest priced new listing is $219,000 for 1215 Tokochi, a 3 bedroom, 1.75 bath with 1377 square feet. This home is located in Tahoe Paradise and will be subject to a short sale approval by the bank. The highest priced new listing among this group is $550,000 for 953 Lakeview #1, a 2 bedroom, 3 bath townhouse on the lake with beautiful views. The overall median asking price for new listings this past week was $309,000.
There were 13 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down just 1 from the previous week’s 14. The lowest pending list sale price from this group was $129,900 for 1041 River, a 3 bedroom, 1 bath with 810 square feet. This is a bank owned home located in the Sierra Tract neighborhood. The highest pending sale price over the past week was listed at $649,000 for 2078 Traverse, a Tahoe Keys home with 3 bedrooms, 2 baths and 1556 square feet of living space. The overall median listing price among last week’s pending sales was $275,000. The average time on the market was 106 days.
There were 15 CLOSED SALES this past week, the same number as the previous week. The lowest recorded sale price within this group was only $80,000 for a condo located in the Y neighborhood (congratulations to Fawne Hayes from the Pinnacle Real Estate Group). This condo has 2 bedrooms, 1 bath and 841 square feet and was a normal sale. The highest sale price last week was $950,000 for 636 Alpine, a Tahoe Keys home with 4 bedrooms, 3 baths and 3737 square feet of living space. This was also a “traditional” sale. The overall median sale price for this past week was $330,000 with an average time on the market (including the escrow period) of 96 days.
As of September 29, 2010 there are 534 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services. From this group of listings there are 41 that are bank owned properties and 89 that are short sales. Out of these 534 listings, 101 of are currently in escrow. Of the 101 pending escrows, there are 50 that are awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Sept. 9- Sept. 15
According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 16 NEW (or back on the market) listings this past week, just one less than the week prior. The lowest priced new listing is $125,000 for 3610 Spruce #5. This is a 2 bedroom, 1 bath condo with 896 square feet unit located in the Bijou neighborhood near Heavenly Mountain. This property is listed with a sale that would be subject to bank approval for a short sale. The highest priced new listing among this group is $708,800 for 3074 Egret, a 3 bedroom, 3 bath with 2120 square feet located in Christmas Valley neighborhood off of South Upper Truckee and across from the street from the Truckee River. The overall median asking price for new listings this past week was $329,000.
This past week there were 12 new PENDING ESCROWS according to the South Tahoe Multiple Listing Services. This number is down 9 from the previous week’s whopping 21 pending sales. The lowest pending sale price from this group was a condo located in the Y area at 1223 Bonanza 10. This condo has 2 bedrooms, 1 bath and 841 square feet. The highest pending sale price over the past week was $629,000 for 2075 Slalom, a 4 bedroom, 3 bath home located within the Tahoe Keys. This property features 2085 square feet of living space. This sale is pending bank approval for a short sale. The overall median listing price among last week’s pending sales was $251,900 with an average time on the market of 92 days.
The number of CLOSED SALES over this past week was 12, up 3 from the previous week’s 9. The lowest recorded sale price within this group was $105,000 for a Sierra Tract home located at 2600 Kubel. This was a foreclosure and the home has 2 bedrooms, 1 bath and 852 square feet of living space. The highest sale price was last week was $599,000 for 1238 Lone Indian Trail, a 3 bedroom, 3 bath with 2670 square feet. This home is located in the Montgomery Estates neighborhood. The overall median sale price was $312,500 with an average time on the market (including the escrow period) of 95 days.
As of September 16, 2010 there are 597 active single family and condo listings on the South Lake Tahoe Association of Realtors Multiple Listing Services. Out of these 597 listings, 116 of are currently in escrow. Of the 116 pending escrows, there are 39 that are awaiting bank approval for a short sale.
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.