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.

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.

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.

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.

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.

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.

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.

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.

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.

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.