South Lake Tahoe Real Estate Market Update, June 3- June 9
Spring has arrived and with it a budding new report from the South Tahoe Association of Realtors. According to the data issued last week, there were (check it out) 28 NEW (or back on the market) listings. This number was considerably up from last week’s 20. Among these new listings, the lowest asking price is $175,000 (shall we say, “contractor’s special”) for 815 South Shore, a 2 bedroom, 2 bath with 1972 square feet. The highest priced new listing was $1,220,000 for breath-taking 2194 Chiapa, a 4 bedroom, 3.5 bath with 3694 square feet. Congrats to Pinnacle. The overall median new listing price for this week’s newest inventory was $304,500 which is below the current overall median home price of $320,000.
Another positive note is in regards to the 10 new PENDING sales, up from the previous week’s 9. The lowest asking price for the new pending sales is $149,000 for 681 Eloise #3, a 2 bedroom, 1 bath condo with 980 square feet. The highest priced new escrow is $675,000 for a bank-owned Tahoe Keys home located at 1992 Marconi Way. This home has 3 bedrooms, 2.5 bath with 2663 square feet. The overall median home price among the new pending sales was $324,000 with an average time on the market of 58 days.
The really good news is that there were 8 CLOSED sales this past week, up 3 from the previous week. The lowest priced sale was a short sale at $190,000 for 1767 Arrowhead, a 3 bedroom, 2 bath with 1040 square feet. The highest priced sale was $735,000 for 1857 High Meadow Trail, a brand new 3 bedroom, 2.5 bath with approximately 2900 square feet. The overall median home price was $308,500 with an average time on the market of 159 days. Over half of these nine sales were distressed sales. Never-the-less, the inventory is moving and buyers are finding great deals.
South Lake Tahoe Real Estate Market Update, May 28- June 3
The South Tahoe real estate market appears to be following its traditional “relaxed” activity for the period between the middle of May to the middle of June. The good news is that we can actually take a bit of time away from the computer and get out to enjoy the Tahoe beauty. Many thanks to my good friend Dewitt Jones for capturing a moment of pure fun. Dewitt is always reminding us to celebrate what’s right with the world and I must admit, golfing in a slight drizzle and somewhat chilly temperatures in Tahoe, is right up there at the top of the list. Now, back to work.
According to the South Lake Tahoe Association of Realtors’ multiple listing services, there were 20 NEW (or back on the market) listings this past week , up 2 from the previous week’s 18. The lowest priced new listing is $235,000 for 3311 Bruce, a 2 bedroom, 1 bath with 1962 square feet located in the Bijou neighborhood. The highest priced new listing was $2,195,000 for 2049 Aloha, a Tahoe Keys home with 5 bedrooms, 4 baths and 2893 square feet. The overall median new listing price for this week’s newest inventory was $389,450.
There were only 9 new PENDING sales, down from the previous week’s 15. Perhaps all of our recent snowstorms have dampened the spirits of spring visitors. The lowest asking price for the new pending sales is $150,000 for 1008 Eagle, a 3 bedroom a bank-owned fixer (an understatement) with 1922 square feet. Good job Pinnacle. The highest priced new escrow is $536,500 for 2142 Monterey, a 3 bedroom, 2 bath with 1832 square feet located in the Tahoe Keys. The overall median home price among the new pending sales was $264,900 with an average time on the market of only 19 days.
There were 5 CLOSED sales this past week, the same as the previous week. The lowest priced sale was $229,900 for 3534 Pinecrest, a bank-owned 3 bedroom, 2 bath with 1732 square feet. The highest priced sale was a short sale at $370,000 for 686 Michael, a 3 bedroom, 2 bath with 1570 square feet. This home is located just outside the Tahoe Keys. The overall median home price was $267,500 with an average time on the market of 78 days.
1170 Herbert B, South Lake Tahoe, CA
We all hear folks talk about the Tahoe lifestyle and the visions that individuals draw upon can be quite varied. However, one common theme is that of relaxation and putting the stress of daily life behind. One of the easiest and most affordable means by which to grab onto this aspect of Tahoe living, is to find a condominium in a quiet location and surrounded with amenities. Once you check out 1170 Herbert, unit B, you may not need to look any further.
Located at the quiet back end of the Bavarian Village, this street level (convenience right at the door) features three bedrooms (including a master suite) and two baths. The first room one enters is the spacious living room centered around the large open fireplace with stone surround. The carpeting is newer and in excellent condition. Just off to the left is the dining area, large enough for friends and family to gather following a day in the Sierra beauty. The kitchen is open to both the living room and dining area and features newer appliances and plenty of counter space.
Down the hall are the three bedrooms and baths. Each room is rather roomy, especially compared to most condominiums. The home is sold furnished and ready to go. Speaking of relaxation, just bring your toothbrush. Amenities within this complex include snow removal, (see – more reduced stress,) refuse, exterior maintenance, exterior insurance, on-site management and the wonderful pool area. Heavenly Mountain skiing is just up the street as well as Lake Tahoe beaches, shopping, dining and year-round entertainment. Life is good in Tahoe. Start enjoying it now at this surprisingly affordable price.
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South Lake Tahoe Real Estate Market Update, May 20- May 27
The South Lake Tahoe real estate market plugged along last week, despite the continual snow storms. It’s May for goodness sakes. Never-the-less, according to the South Lake Tahoe Association of Realtors’ MLS, there were 18 NEW (or back on the market) listings this past week , down 1 from the previous week;s 19. Among these new listings, the lowest priced property was $89,500 for 3798 Aspen, a small 1 bedroom, 1 bath cabin with only 551 square feet. On the other end of the spectrum, the highest priced new listing was $1,250,000 for 1323 Keller, a 5 bedroom, 4.5 bath with 3231 square feet located at the foot of Heavenly Mountain. The overall median new listing price for this week’s newest inventory was $307,450.
Slightly down from last week’s 19 new escrows, this past week reported 15 new PENDING sales. Among these new escrows, the lowest asking price $149,000 for 2055 12th St. #4. The highest priced new escrow was $959,000 for 405 Christie, a 4 bedroom, 3 bath with 2050 square feet located in the Tahoe Keys. The overall median home price among the new pending sales was $365,000 with an average time on the market of 51 days.
There were 11 CLOSED sales this past week. The lowest priced sale was $155,000 for 3610 Spruce, a 3 bedroom, 2 bath condo with 1210 square feet located in the Bijou neighborhood. The highest priced sale was $925,000 for 2200 Oaxaco, a 6 bedroom, 4 bath with 5448 square feet located in the North Upper Truckee area. This home was a short sale. Congratulations to the Pinnacle Real Estate Group. The overall median home price was $277,500 with an average time on the market of 84 days.
South Lake Tahoe Real Estate Market Update, May 6- May 12
Our run of reduced listings and higher number of new escrows came to an end last week. We’re hoping that the decline in market activity was due to the amazing snow storm we experienced however, all in all, the numbers are still more encouraging than we normally see this time of year.
According to the South Lake Tahoe Association of Realtors there were 21 NEW (or back on the market listings), one more than the previous week. The lowest priced new listing is $129,000 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet. The highest priced new listing is $999,000 for 1261 Country CLub, a 4 bedroom, 4 bath with 2598 square feet located in the Meyers neighborhood near the Lake Tahoe Golf Course. The median listing price this week was $489,600.
This past week there were 14 homes that went into escrow, down 5 from the previous week’s 19. The lowest priced new escrow is listed at $139,000 for 3610 Spruce, #6, a 2 bedroom, 1 bath with 896 square feet. The highest priced new escrow is listed at $799,000 for 2301 Cold Creek, a 4 bedroom, 3.5 bath with 3330 square feet in the Montgomery Estates neighborhood. The median pending asking price was $264,250 with an average time on the market of 103 days.
There were 5 CLOSED sales this past week, down 3 from the previous week’s 8. The lowest sale price was $309,000 for 930 Edgewood Circle, a 4 bedroom, 3.5 bath with 2400 square feet. The highest sale price was $650,000 for 1608 Plumas, a 5 bedroom, 3.5 bath with 3199 square feet. The median sale price was $495,000 with an average time on the market of 100 days. The good news is that this median home price is higher than the overall average.