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.

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.

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.

There were 18 NEW ESCROWS this past week, up 10 from the previous week’s 8.  The lowest pending sale price was $65,000 for 3798 Aspen, a 1 bedroom, 1 bath with 551 square feet.  The highest pending sale price was $775,000 for 2301 Cold Creek (way to go Pinnacle), a 4 bedroom, 3.5 bath with 3330 square feet.  The overall median home price among last week’s pending sales was $284,450 with an average time on the market of 48 days.

There were 6 CLOSED sales this past week, up from the previous week’s 3.  The lowest sale price was $180,000 for 2640 Bertha, a 2 bedroom, 1 bath with 1176 square feet.  Both the buyer and seller were represented by the Pinnacle Real Estate Group .  At the same time, the seller of the highest priced sale was also represented by Pinnacle.  This Montgomery Estates home was located at 2232 Columbine, feautred 7 bedrooms, 5 baths and 4746 square feet and sold for $1,150,000.The overall median sale price for the past week was $337,500 with an average time on the market (including the escrow period) of 283 days which is slightly higher than the $326,500 median home price posted as an average for the previous 12 months.

There were only 6 NEW ESCROWS this past week, down 3 from the previous week’s 9.  The lowest pending sale price was $315,000 for 2691 Yokut St., a 4 bedroom, 2 bath with 1688 square feet.  The highest pending sale price was $499,500 for 535 Christie, a Tahoe keys home with 3 bedrooms, 2 baths and 1734 square feet.  The  overall median home price among the new pending sales was $297,500 with an average time on the market of only 32 days.

There were 8 CLOSED sales this past week, down 7 from the previous week’s 15.  The lowest sale price was $137,500 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet located in the Y neighborhood.  The highest priced sale was $930,000 for 405 Christie, a 4 bedroom, 3 bath with 2050 square feet located in the Tahoe Keys.  The overall median sale price for the past week was $278,500 with an average time on the market (including the escrow period) of just 57 days.

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).

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.

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.

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.

The good news was that there were nearly double the number of new escrows as compared to last week with 15 homes that went into ESCROW, up from the previous week’s 8. The lowest priced new escrow is listed at $194,900 for 1191 Dedi, a 3 bedroom, 2 bath with 1092 square feet. The highest priced new escrow was $1,488,000 for 2232 Columbine Trail, a 7 bedroom, 5 bath with 4746 square feet.  Way to go Mark with Pinnacle.  The median pending asking price was $350,000 with an average time on the market of 140 days.

Another positive note was the past week’s 10 CLOSED sales, up from the previous week’s 8. The lowest sale price was $165,000 for 3025 Christmas Valley #11, a 2 bedroom, 1.5 bath with 960 square feet. The highest sale price was $1,400,000 for 5 Lighthouse Shores, a 3 bedroom, 2.5 lakefront home with 2996 square feet. The median sale price was $349,500 with an average time on the market of 160 days.