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. 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.
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, July 8- July 14
According to the South Lake Tahoe Association of Realtors’ MLS there were 26 NEW (or back on the market) listings, down 3 from the previous week’s 29. The lowest priced new listing was $149,900 for 1071 Reno, a 2 bedroom, 1 bath with 864 square feet. The highest priced new listing was $1,450,000 for 359 Beach St, a 5 bedroom, 5 bath with 4686 square feet located in the Tahoe Keys. The overall median asking price last week was $377,400.
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.