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.

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.

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.

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.

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.

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.

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.

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 8 NEW ESCROWS this past week, an improvement of 1 over the previous week’s 7. The lowest pending sale price was $150,000 for 971 Kiowa, a North Upper Truckee home with 2 bedrooms, 1 bath and 768 square feet.  The highest pending sale price was $599,000 for 716 Lakeview, a 4 bedroom, 2.75 bath with 2963 square feet.  The overall median home price among last week’s pending sales was $302,000 with an average time on the market of only 39 days.

 There were just 3 CLOSED sales this past week, down substantially from the previous week’s 18. Perhaps the holiday office closing played a role here but more than likely, these closings were the result of accelerated sales trying to take place with the Federal tax credit. There were 2 homes that sold for $280,000 which was the lowest sale price for the week. These homes were 695 El Dorado (2 bedrooms, 2 baths, 1100 sf) and 2154 Washington (3 bedrooms, 1.75 baths and 1537 sf).  The highest priced sale was $715,000 for 1917 Cathedral, a 3 bedroom, 2.5 bath with 2363 square feet. The overall median sale price for the past week was $280,000 with an average time on the market (including the escrow period) of just 43 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.