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.
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, 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.