South Lake Tahoe Real Estate Market Update, July 16- July 22

[SinglePic not found]This week there were 21 NEW LISTINGS, down from last week’s 28. The lowest priced new listing is $236,500 for 2676 Armstrong, a 3 bedroom, 2 bath with 1376 square feet of living space. The highest priced new listing is $2,390,000 for 5 Lighthouse Shores, a 3 bedroom, 2.5 bath with 2996 square feet. This week’s median listing price is $380,000.

There were 18 homes that went into ESCROW this week, up from last week’s 7. The lowest priced new escrow is $184,000 for 967 Kiowa, a 2 bedroom, 1 bath with 912 square feet in the North Upper Truckee neighborhood. The highest priced new escrow is $1,750,000 for 2045 Aloha, a 3 bedroom, 4.5 bath with 3209 square feet located in the Tahoe Keys. The median pending sale price is $299,900 with an average time on market of 38 days.

This week there were 9 homes that were recorded as SOLD, up from last week’s 7. The lowest sale price was $204,900 for 2140 Cornelian, a 3 bedroom, 1 bath with 1092 square feet. The highest sale price was $700,000 for 1110 Washoan (cheers to the  Pinnacle Real Estate Group). This home has 4 bedrooms, 3 baths and 2961 square feet.  The median sale price was $270,000 with an average time on market of 109 days.

South Lake Tahoe Real Estate Market Update, July 9- July 15

This week there were 18 NEW LISTINGS, down from last week’s 30. The lowest priced new listing is $219,000 for 909 San Jose, a 3 bedroom, 1.5 bath with 896 square feet. The highest priced new listing is $1,699,000 for 857 Lake view, a 4 bedroom, 3.5 bath with 2628 square feet. The median new listing price for this week is $369,500.

There were 7 homes that went into ESCROW this week, down from last week’s 12. The lowest priced new escrow is $142,000 for a 2 bedroom, 1 bath condo with 1000 sf located at 3344 Sandy Way #27. The highest priced new escrow is $549,000 for 709 Lakeview #27, an Al Tahoe neighborhood condo with 2 bedrooms, 1.5 baths and 1352 square feet. The median pending sale price is $312,000 with an average time on market of 188 days.

This week there were 7 homes that were recorded as SOLD, up from last week’s 6. The lowest sale price was $171,000 for 516 Emerald Bay Rd. #223, a 2 bedroom, 1 bath condo with 912 square feet. The highest sale price was $675,000 for 2033 Garmish Ct., a 4 bedroom, 2.5 bath with 2016 square feet.  The median sale price was $460,000 with an average time on market of 108 days.

South Lake Tahoe Named in Top 10

[SinglePic not found]I knew it, I knew it, I knew it.  (Just love saying it.)  And finally, I read it.  What, you ask, am I carrying on about?  The fact that SOUTH LAKE TAHOE SHOULD BE ONE OF THE BEST RESORT AREAS IN THE COUNTRY in which to invest, especially in today’s real estate environment.  And now, I just read, much to my shear delight, an article posted by MSN Money naming South Lake Tahoe as one of the top 10 places in which to purchase a second home.   

The criteria noted for being included in this list is taken directly from the May 17th, 2009 article written by Liz Pulliam Weston are as follows:

• Proximity to growing urban centers. Vacation towns typically need to be within a two- to three-hour drive of a major city, or at least reasonably close to a big airport. 
• Plenty of recreational opportunities. There has to be lots of stuff to do beyond shopping, which is why most thriving resort towns are near ski lifts, beaches or mountains. Some cultural cachet such as a  theater or film festival, galleries or museums.  
• Decent weather. You have to be able to get outside to enjoy all that recreation. 
• Significant commercial investment. The old-timers may grouse about the new hotels or malls, but these are good indicators that others think the community is on the way up. 
• The “it” factor. The community gets discovered by movers, shakers and celebrities, or at least enough other folks like you for prices to get bid up. 

There was some misinformation quoted however.  Within the article, it was stated that the median home price was up 21% over last year.  The fact is that when comparing S.T.A.O.R.’s  Multiple Listing statistics year over year, the median sold price for a single family residential home is down 7.8% from the previous year.  This figure covers the City & County areas of South Lake Tahoe in El Dorado County only and reflects the period of  4/30/08-4/30/09 as compared to sold listing data for the period of 4/30/07-4/30/08.  On the positive side, this percentage drop is relatively small compared to other areas in the United States in the current economic climate, which actually highlights a strength and stability in our market.

South Lake Tahoe Real Estate Market Update, Apr. 2- Apr. 8

Overlooking Lake tahoe

 

Just like last week, there were 19 new listings placed on the market.  The lowest priced new listing is located at 1161 Julie with 2 bedrooms, 1.5 baths and 1004 square feet for $204,900. The highest priced new listing is $3,200,000 for 3 Lighthouse Shores Dr. with 5 bedrooms, 5 baths and 5112 square feet. The median new listing price is $524,000.

There were 12 new ESCROWS this week, the same amount as the last two weeks. The lowest priced new escrow is 1129 Herbert A, a 3 bedroom, 2 bath condo in the Bijou neighborhood listed at $147,300.  The highest priced new escrow is $739,000 for 611 Alpine in the Tahoe Keys with 3 bedrooms, 2.5 baths and 2239 square feet. The median new escrow price is $316,500 with an average time on market of 63 days.

There were 4 RECORDED SALES this week, one less than last week. The lowest recorded sale is $270,500 for 3187 Pioneer Trail, a 4 bedroom, 1.75 bath home with 2635 square feet. The highest recorded sale is $399,000 for 1595 Player, a 3 bedroom, 2 bath, 1280 sf home. The median sale price is $357,500 with an average time on markert of 311 days (this includes the escrow period.

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

South Lake Tahoe Real Estate Market Update, Mar. 19- Mar. 25

 

This week there were 16 new listings.  The lowest priced new listing is 2579 Elwood for $225,000 with 2 bedrooms, 1.75 baths and 826 square feet. The highest priced new listing is 2790 Springwood, a 4 bedroom, 3 bath with 2500 square feet asking $675,000. The median new listing price is $344,950.

 

 There were 12 new ESCROWS this week, up from last week’s 9. The lowest priced new escrow is 3344 Sandy Way #33, a 2 bedroom, 1 bath condo with 1020 square feet listed at $159,900.  The highest priced new escrow is $649,000 for 959 Kekin, a 3 bedroom, 2.5 bath home with 2148 square feet. The median new escrow price is $349,000 with an average time on market of 155 days.

There were 2 RECORDED SALES this week, down from last week’s 7. The lowest recorded sale is $485,000 for 405 Ala Wai #182, a Tahoe Keys condo with 3 bedrooms, 2 baths and 1320 square feet. The highest recorded sale is $1,200,000 for 2315 Tartan, a 6 bedroom, 5 bath home with 4191 square feet located in the Angora Highlands neighborhood (congratulations to Mark Salmon and Don and Theresa Souers of the Pinnacle Real Estate Group). The average time on market, including the escrow period, was 165 days.

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

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