South Lake Tahoe Real Estate Market Update- Nevada East Shore, Aug. 27- Sept. 2
The Nevada Lake Tahoe real estate market continues to have high and low levels of activity yet there is one element that never changes. That is, the beauty of a simple lifestyle available to all that are able to wiggle their toes in the sand of Lake Tahoe beaches. Check out this image from one of our favorite local photographers, Brad Senn. Is there a better way to describe true elegance? Okay, enough wistful thinking. Back to work.
According to the Northern Nevada Regional Multiple Listing Services, there are currently 163 single family homes listed for sale in South Lake Tahoe’s Nevada East Shore. Within this list of Nevada homes for sale, there are 13 homes currently in escrow and 5 of those escrows are awaiting bank approval for a short sale. Among these 163 active listings, the median list price is $975,000.
During this past week there were 4 single family homes put on the market with a median asking price of $732,000. The lowest priced new listing was $479,000 for 189 Carson Dr., a 3 bedroom, 2 bath with 1464 square feet. On the other end of the price range, the highest priced new listing was $2,650,000 for 1318 Cave Rock Dr. This stunning contemporary home has 5 bedrooms, 5 baths, 6,337 square feet of living space and views of Lake Tahoe and the Sierra Mountain range. There were no recorded sales reported through the Northern Nevada Regional MLS for this past week.
There are currently 96 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $373,500. Out of these 96 condos, there are 13 in escrow. Among the 13 pending sales, 5 are pending bank approval for a short sale (these happen to be the same number of escrows as the single family homes). During this past week there were 7 new condos listed for sale with a median asking price of $349,900. The lowest priced new condo listing was $219,000 for 759 Boulder, a 2 bedroom, 2 bath with 840 square feet of living space. This condo is located at the top of Kingsbury Grade near Heavenly Ski Resort. The highest priced new condo listing was $1,395,000 for 191 Lake Shore Blvd. #102. This condo has mountain and lake views and includes 4 bedrooms, 3 baths and 1988 square feet. According to the Northern Nevada Regional MLS, there were no new pending sales or recorded sales during the week of August 27th through September 2.
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, Aub. 12- Aug. 18
Would you like to ride in my beautiful balloon? Way up in the sky . . . wait, my mind is wandering as I wake up to yet, another day in Paradise. Wandering mind behind me, it is time to get back to work. So, just how did the South Lake Tahoe real estate market fare this past week? 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. This number is down 3 from the previous week’s 17 as is typical this time of year. New listings should continue to decline as the summer months wane. Among the this group, the lowest priced new listing was a mere $185,000 for 1046 Herbert. This property is a 3 bedroom, 2 bath with 1248 square feet of living space. The highest priced new listing was $866,000 for 844 Muskwaki, a 5 bedroom, 3.5 bath bank-owned property with 4475 square feet and gorgeous mountain views. The overall median asking price last week was $249,00o.
Continuing along on a steady pace, this past week there were 13 new PENDING ESCROWS, down 4 from the previous week’s 17. The lowest pending sale price among this group was $149,500 for 2110 10th St, a 1 bedroom, 1 bath with 624 square feet. On the complete opposite swing of the pendulum, the highest pending sale price was $3,900,000 for 231 Beach, a 4 bedroom, 5 bath waterfront home with 4139 square feet located in the Tahoe Keys. The overall median home price among last week’s pending sales was $299,000 with an average time on the market of 99 days.
The number of closed escrows declined considerably with only 4 reported sales this past week, down 7 from the previous week’s reported 11. The lowest sale price within this group was $180,000 for 2529 Osborne, a 2 bedroom, 1 bath in the Sierra Tract neighborhood with 775 square feet. The highest sale price was $527,000 for 2100 Shawnee, a 4 bedroom, 2.5 bath with 2649 square feet in the North Upper Truckee area. The overall median sale price was $268,000 with an average time on the market (including the escrow period) of 76 days.
Stay tuned for further weekly reports. Based on what we are experiencing in the number of inquiring phone calls and emails, we are expecting a spurt of activity during the month of September. Combined with the continuing record low interest rates and a wide variety of inventory choices, the Lake Tahoe real estate market continues to hold interest among both recreation lovers and investors.
South Lake Tahoe Real Estate Market Update, July 29- Aug. 4
According to the South Lake Tahoe Association of Realtors’ MLS there were 15 NEW (or back on the market) listings this past week, the same amount as the previous week. The lowest priced new listing was $224,900 for 977 Edgewood, a 2 bedroom, 2 bath with 1247 square feet. The highest priced new listing was $1,495,000 for 2216 Balboa, a 5 bedroom, 2.75 Tahoe keys home with 2919 square feet of living space. The overall median asking price last week was $459,000.
This past week there were more NEW ESCROWS than there were new listings. The South Tahoe MLS shows 22 pending sales, up 9 from the previous week’s 13. The lowest pending sale price was $139,900 for 3606 Birch, a 3 bedroom, 2 bath in the Ski Run area with 1162 square feet. The highest pending sale price was $799,000 for 2242 Alice Lake, a 3 bedroom, 3 bath Montgomery Estates home with 3974 square feet. The overall median home price among last week’s pending sales was $322,450 with an average time on the market of 39 days.
There were 12 CLOSED sales this past week, up 4 from the previous week’s 8. The lowest sale price was $175,000 for 3324 Ash, a 2 bedroom, 1 bath with 660 square feet. The highest sale price for the week was $625,000 for 1992 Marconi, a 3 bedroom, 2.5 bath in the Tahoe Keys with 2663 square feet. The overall median sale price was $213,500 with an average time on the market (including the escrow period) of only 47 days.
South Lake Tahoe Real Estate Market Update, June 10- June 16
According to the South Lake Tahoe Association of Realtors MLS there were 26 NEW (or back on the market) listings, down 2 from the previous week’s 28. Out of these new listings, the lowest asking price is $144,900 for 2683 Pinter, a Sierra Tract home with 2 bedrooms, 1 bath and 696 square feet. The highest priced new listing is asking $3,700,000 for 22 Lighthouse Shores, a lakefront Tahoe Keys home with 4 bedrooms, 3 baths and 3306 square feet. The overall median asking price for the new 26 listings is $344,250.
This past week there were 9 PENDING sales. The lowest asking price for the new pending sales is $344,000 for 600 Tehama, a 3 bedroom, 2 bath with 1667 square feet. The highest priced new escrow is $795,000 for 1989 Kokanee, a Tahoe Keys home with 3 bedrooms, 2.5 baths and 2442 quare feet of living space. The overall median home price among the new pending sales was $415,000 with an average time on the market of 64 days.
There were nearly double the amount of closed sales this week with 15 in comparison to last week’s 8. The lowest priced sale was 125,000 for a bank owned condo located at 3610 Spruce #6, a 2 bedroom, 1 bath with 896 square feet. The highest priced sale was $912,500 for 406 Wedeln Ct., a 4 bedroom, 2.5 bath with 2634 square feet located in the Tahoe Keys. This week’s overall median home sale price was $235,000 with an average time on the market of 92 days (including the escrow period).