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, Aug. 5- Aug. 11
August Bloom-fest in South Lake Tahoe
Mid summer in South Lake Tahoe is magical in so many ways. But then again, when is it not magical in the Sierras? Besides ideal weather, pristine blue skies and a lake that will take your breath away, the wildflowers are, according to the locals, “the BEST ever.” It seems as though the majority of the various species are all blooming at once. In keeping with the wildflowers, the local real estate market continues to be having its own “bloom-fest” at the moment. 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 2 from the previous week’s 15. Among the this group, the lowest priced new listing was a mere $140,000 for 3765 Alder. This property is a 1 bedroom, 0.75 bath cabin with 532 square feet of living space. At the other end of the spectrum, the highest priced new listing was $980,000 for 1603 Bel Aire Circle, a 3 bedroom, 2.5 bath luxury home with 2733 square feet of living space and water features including waterfalls.The overall median asking price last week was $400,000. This is slightly higher than the current median home price of $326,500 for sales during the past twelve months.
New ESCROWS continue along a strong trend with 17 this week, slightly down from the 22 posted last week. The lowest pending sale price among this group was $119,900 for 3598 Terry Lane #38, a 2 bedroom, 1 bath condo with 896 square feet of living space. The highest pending sale price was $1,127,900 for 2176 White Sands, a 5 bedroom, 3.5 bath Tahoe Keys home with 3206 square feet of living space and 85 feet of water frontage. The overall median home price among last week’s pending sales was $324,900 with an average time on the market of 76 days.
CLOSED sales remain rather consistent with 11 reported sales during this past week, down only 1 from the previous week’s reported 12. The lowest sale price within this group was $58,000 for 3798 Aspen (shall we say “contractor’s special?”) which was a 1 bedroom, 1 bath with 551 square feet. The highest sale price was $610,000 for 1072 Turnback, a 3 bedroom, 3 bath Montgomery Estates bank-owned home with 3,453 square feet. The overall median sale price was $261,000 with an average time on the market (including the escrow period) of 78 days. Of course, the sale on Aspen brought this value down considerably. Overall, the good news continues to come our way.
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 22- July 28
According to the South Lake Tahoe Association of Realtors’ MLS there were 15 NEW (or back on the market) listings this past week. The lowest priced new listing was $210,000 for 1137 Keller, a 2 bedroom, 1 bath with 816 square feet. The highest priced new listing was $2,888,000 for 739 Lakeview, a 3 bedroom, 3 bath lake front home with a private dock and 3839 square feet. The overall median asking price last week was $325,000.
There were almost as many NEW ESCROWS this past week as there were new listings with a total of 13 pending sales. The lowest pending sale price was $199,900 for 2171 Royal, a 2 bedroom, 2 bath with 1420 square feet. The highest pending sale price was $849,000 for 2030 Garmish, a Tahoe Keys home with 4 bedrooms, 2 baths and 2338 square feet. The overall median home price among last week’s pending sales was $479,000 with an average time on the market of 58 days.
There were also 8 CLOSED sales this past week. The lowest sale price was $135,000 for 681 Eloise #4, a 2 bedroom, 1 bath with 980 square feet. The highest sale price for the week was $465,900 for 1903 Talbot, a 3 bedroom, 2.5 bath located in Montgomery Estates with 2464 square feet. The overall median sale price was $213,500 with an average time on the market (including the escrow period) of 116 days.
South Lake Tahoe Real Estate Market Update, July 1- July 8
Why invest in South Lake Tahoe? Well, take a look at this photo taken on July 4th and you will have to admit that folks do like it here. And to look a bit further, check out the real estate market activity that took place over the holiday. According to the South Lake Tahoe Association of Realtors’ MLS there were 29 NEW (or back on the market) listings, 6 more than the previous week’s 23. The lowest priced new listing was $189,000 for 3324 Ash, a 2 bedroom, 1 bath with 660 square feet. The highest priced new listing was $1,995,000 for 2160 Balboa, a Tahoe Keys home with 4 bedrooms, 3.5 baths and 3122 square feet. The overall median asking price last week was $349,750.
There were 8 NEW ESCROWS this past week, an improvement of 1 over the previous week’s 7. The lowest pending sale price was $150,000 for 971 Kiowa, a North Upper Truckee home with 2 bedrooms, 1 bath and 768 square feet. The highest pending sale price was $599,000 for 716 Lakeview, a 4 bedroom, 2.75 bath with 2963 square feet. The overall median home price among last week’s pending sales was $302,000 with an average time on the market of only 39 days.
There were just 3 CLOSED sales this past week, down substantially from the previous week’s 18. Perhaps the holiday office closing played a role here but more than likely, these closings were the result of accelerated sales trying to take place with the Federal tax credit. There were 2 homes that sold for $280,000 which was the lowest sale price for the week. These homes were 695 El Dorado (2 bedrooms, 2 baths, 1100 sf) and 2154 Washington (3 bedrooms, 1.75 baths and 1537 sf). The highest priced sale was $715,000 for 1917 Cathedral, a 3 bedroom, 2.5 bath with 2363 square feet. The overall median sale price for the past week was $280,000 with an average time on the market (including the escrow period) of just 43 days.