South Lake Tahoe Real Estate Market update, Nevada East Shore- Oct. 8- Oct. 14
Lake Tahoe Aspens
As the Nevada Lake Tahoe real estate market activity continues along a steady yet slow pace, the glory of the Fall season is definitely upon us. According to the Northern Nevada Regional Multiple Listing Services, there are 158 single family homes currently listed for sale in South Lake Tahoe’s Nevada East Shore area. Out of this group of Nevada homes for sale, there are 15 homes that are in escrow. Out of the 15 escrows, 6 are still awaiting bank approval for a short sale. Among these 158 active listings, the median list price is $977,000 but the average list price is $2,545,596. The median list price for homes in escrow is $479,000 with an average list price of $647,566.
As is typical this time of year, the number of new listings begins to dwindle and the inventory slowly declines. Throughout the past week there was just 1 new single family home added to the active inventory for sale with an asking price of $669,500. This home is located at 644 Freel in the Zephyr Cove neighborhood with filtered lake views, 3 bedrooms, 1 bath and 1305 square feet of living space. As far as new escrows and closed sales, the news was pretty quiet. Unfortunately there were no homes that went into escrow this past week. There were also no single family homes that were recorded as sold over the past week.
There are currently 89 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $349,900 and the average asking price is $596,539. Out of these 89 condos, there are 11 that are currently in escrow. Among the 11 pending sales, 5 are subject to bank approval for a short sale. During this past week there was just one new condo listing which was listed at $250,000, which will also be subject to bank approval for a short sale. This townhouse is located at 100 Gold Hill Rd. in Zephyr Cove and has 3 bedrooms, 1 bath and 1260 square feet of living space. As we found in the single family residence category, the new pending sales hit the big zero with no pending sales for Nevada condos for the second week in a row. There was however, one recorded sale for Nevada East Shore condos/ townhouses this past week. This condo is located at 191 Lakeshore Blvd. in the Zephyr Cove area and has 3 bedrooms, 3 baths and 1,438 square feet of livong space. This condo was a bank owned foreclosure sale.
South Lake Tahoe Real Estate market Update, Oct. 7- Oct. 13
If you haven’t been out to see the changing of the leaves in South Lake Tahoe, drop everything , put on your sneakers and head out to see the Aspens. Truly magical!! Then, take a moment to check out the lastest weekly update in regards to South Lake Tahoe real estate. According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 13 NEW (or back on the market) listings this past week, down from the previous week’s 17. The lowest priced new listing is $99,000 for 2049 10th St. This is a Gardner Mountain studio home with 1 bathroom and just 120 square feet. The highest priced new listing among this group is $1,395,000 for 2025 Marconi which is found in the Tahoe Keys. This home has 4 bedrooms, 2.5 baths and 2,422 square feet of living space. The overall median asking price for new listings this past week was $299,000.
There were 12 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down 1 from the previous week’s 13. The lowest pending list sale price from this group was $150,000 for 1410 Ski Run #7, a 2 bedroom, 1 bath with 832 square feet. This condo is located off Ski Run Blvd. near heavenly Ski Resort. The highest pending sale price over the past week was a Tahoe Keys home listed at $849,000. This home is located at 1603 Venice, also in the Tahoe Keys and has 3 bedrooms, 2 baths and 2,447 square feet of living space. The overall median list price among last week’s pending sales was $344,000 and the overall average was $391,150. The average time on the market was 95 days.
There were 11 CLOSED SALES this past week, down 4 from the previous week’s 15. The lowest recorded sale price within this group was $85,000 for 3669 Rocky Point Rd. Located in the Heavenly Valley neighborhood, this home is considered a “fixer” with 2 bedrooms, 1 bath and 648 square feet. This was a traditional sale, not a foreclosure or a short sale. The highest sale price last week was 2153 Oaxaco which sold for $650,000. This home is a brand new construction located in the North Upper Truckee neighborhood and has 4 bedrooms, 2.5 baths and 2,685 square feet. This was also a traditional sale. The overall median sale price for this past week was $2,879,999 and the overall average was $337,982. The average time on the market (including the escrow period) was 193 days.
As of October 13, 2010 there are 531 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services. Out of these 531 listings, 107 are currently in escrow. Of the 107 pending escrows, there are 48 that are currently awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Sept. 30- Oct. 7
Looks like the change in weather spurred on the Lake Tahoe real estate activity. Okay, perhaps it was just a coincidence but boy howdy, things were sure hopping last week. 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, up substantially from the previous week’s 6. The lowest priced new listing is $219,000 for 1215 Tokochi, a 3 bedroom, 1.75 bath with 1377 square feet. This home is located in Tahoe Paradise and will be subject to a short sale approval by the bank. The highest priced new listing among this group is $550,000 for 953 Lakeview #1, a 2 bedroom, 3 bath townhouse on the lake with beautiful views. The overall median asking price for new listings this past week was $309,000.
There were 13 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down just 1 from the previous week’s 14. The lowest pending list sale price from this group was $129,900 for 1041 River, a 3 bedroom, 1 bath with 810 square feet. This is a bank owned home located in the Sierra Tract neighborhood. The highest pending sale price over the past week was listed at $649,000 for 2078 Traverse, a Tahoe Keys home with 3 bedrooms, 2 baths and 1556 square feet of living space. The overall median listing price among last week’s pending sales was $275,000. The average time on the market was 106 days.
There were 15 CLOSED SALES this past week, the same number as the previous week. The lowest recorded sale price within this group was only $80,000 for a condo located in the Y neighborhood (congratulations to Fawne Hayes from the Pinnacle Real Estate Group). This condo has 2 bedrooms, 1 bath and 841 square feet and was a normal sale. The highest sale price last week was $950,000 for 636 Alpine, a Tahoe Keys home with 4 bedrooms, 3 baths and 3737 square feet of living space. This was also a “traditional” sale. The overall median sale price for this past week was $330,000 with an average time on the market (including the escrow period) of 96 days.
As of September 29, 2010 there are 534 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services. From this group of listings there are 41 that are bank owned properties and 89 that are short sales. Out of these 534 listings, 101 of are currently in escrow. Of the 101 pending escrows, there are 50 that are awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update, Sept. 23- Sept. 29
Fall is in the air in Lake Tahoe! Okay, not temperature-wise but certainly in regards to the changing of leaf colors. And with this change of season, we see that our real estate market is continuing along a steady course. According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 6 NEW (or back on the market) listings this past week, just one less that that of the previous week’s 7. The lowest priced new listing is $175,000 for 1183 Reno, a 2 bedroom, 1 bath with 1000 square feet located in the Sierra Tract neighborhood. The highest priced new listing among this group is $1,199,000, a Tahoe Keys home with 3 bedrooms, 2.5 baths and 3431 square feet, located at 2246 White Sands Drive. Neither of these listings are bank owned or short sales. The overall median asking price for new listings this past week was $237,950.
There were 14 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services. This is the same number as the previous week’s pending sales. The lowest pending list sale price from this group was $175,000 for 1108 Craig, a 2 bedroom, 1 bath with 632 square feet located in the Bijou Pines neighborhood. The highest pending sale price over the past week was listed at $649,000 for 2452 Lupine, a Montgomery Estates home with 4 bedrooms, 3 baths and 3355 square feet. Both of these pending sales are “normal” sales and are not bank owned or short sales. Yeah! The overall median listing price among last week’s pending sales was $294,000, however, the overall average price was $350,686. The average time on the market was 93 days.
There were 15 CLOSED SALES this past week, up 2 from the previous week’s 13. The lowest recorded sale price within this group was $152,000 for 1071 Reno, a Sierra Tract home with 2 bedrooms, 1 bath and 864 square feet. This was a bank-owned sale. The highest sale price was last week was $1,225,000 for 2019 Aloha, a 4 bedroom, 2.5 bath with 2356 square feet. This home is located in the Tahoe Keys with a private boat dock and close access to the open waters of Lake Tahoe. The overall median sale price was $475,000 with an average time on the market (including the escrow period) of 77 days.
As of September 29, 2010 there are 560 active single family and condo listings on the South Lake Tahoe Association of Realtors Multiple Listing Services. Out of these 560 listings, 107 of are currently in escrow. Of the 107 pending escrows, there are 47 that are awaiting bank approval for a short sale.
South Lake Tahoe Real Estate Market Update- Nevada East Shore, Sept. 17- Sept. 23
The Lake Tahoe real estate market for the Nevada East Shore is off to a steady and somewhat improved pace for the Fall of 2010. According to the Northern Nevada Regional Multiple Listing Services, there are 170 single family homes currently listed for sale in South Lake Tahoe’s Nevada East Shore. Out of this group of Nevada homes for sale, there are 17 homes that are in escrow and 6 of those escrows are still awaiting bank approval for a short sale. Among these 170 active listings, the median list price is $769,000.
During this past week there were 4 new single family homes listed for sale with a median asking price of $474,000. The lowest priced new listing was $201,500 for 180 Cottonwood Dr., a 2 bedroom, 1 bath with 807 square feet of living space located within the lower to middle Kingsbury neighborhood. The highest priced new listing was $1,595,000 for 124 Relissa Ct., a beautiful 4 bedroom, 3 bath home with approximately 4089 square feet.
Not such great news as that there were zero homes that went into escrow last week according to the Northern Nevada Regional MLS. There was 1 recorded closed sale which sold for $328,235. This home is located at 185 Benjamin at the top of the Kingsbury Grade and has 4 bedrooms, 3 baths and 2575 square feet.
There are currently 101 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $349,900. Out of these 101 condos, there are 17 currently in escrow. Among the 17 pending sales, 4 are awaiting bank approval for a short sale. During this past week there were 2 new condos put on the market. The lowest priced new condo listing was $395,000 for 177 A Tahoma Circle, a 2 bedroom, 2 bath with 1140 square feet of living space. The highest priced new condo listing was $1,775,000 for 191 Lakeshore Blvd., a 4 bedroom, 3 bath with 1988 square feet.
While the condo activity is picking up a bit, the price range that is attracting buyers is on the lower end. There were 3 new pending sales for condos this past week with a median asking price of $169,900. The lowest new pending sale price was $83,900 for 368 Quaking Aspen D, a 2 bedroom, 1 bath with 800 square feet located near the Nevada entrance to Heavenly Ski Resort. The highest new pending sale was $290,000 for 191 Lakeshore Blvd., a 3 bedroom, 3 bath with 1438 square feet. There was 1 recorded condo sale with a sale price of $172,000 for 451 McFaul Ct., a 2 bedroom, 1 bath with 992 square feet and located on Upper Kingsbury near Neavenly.