The Meyers Neighborhood in So. Lake Tahoe Holds its Own

Meyers, located at the gateway to South Lake Tahoe, appears to be continuing in it’s draw toward buyers. According to statistics offered by the South Tahoe Association of Realtors MLS, the Meyers neighborhood saw an upswing in the number of closed escrows, the median and average home prices as well as the time on the market. When studying sales for the first four months of 2010 as compared to the same period in 2009, we see that there were 7 homes sold as compared to 4 in 2009. The median and average home prices sold were $260,000 and $275,586 respectively which was up from $225,000 and $233,375 in 2009. Another improvement was in regards to the time on the market. In 2010, the cumulative time on the market (which includes the actual escrow period) was 125 days. This was approximately a month quicker than the 171 days reported in 2009.
Following are the seven posted sales for Meyers during the first trimester of 2010.

1079 Modoc was built in 1974 with 1,200 SF of living space sold for $260,000.
1198 Tomahawk was built in 2009 with 2,130 SF of living space was a bank-owned sale at $410,000.
1139 Modoc was built in 2006 with 2,286 SF of living space was a short sale at $440,000
1194 Apache was built in 1981 with 1, 120 SF of living space sold for $287,000.
1998 Cherokee was built in 1971 with 1,228 SF of living space was a bank-owned sale at $210,000.
1964 Cherokee was built in 1961 with 1,088 SF of living was a bank-owned sale $172,100.
1596 Arapahoe was originally built in 1977 and included an unfinished upstairs addition. This property sold for $150,000.

Actually, when you consider that over half of the homes sold in Meyers during the first trimester of 2010 were bank-owned or short sales, the improvements in the above mentioned categories were a welcomed sight.