The Numbers are Up in South Lake Tahoe

The South Lake Tahoe real estate market trends are showing signs of continued improvement. Whether or not the number of increased sales are due to short sales, REO’s, or first time home buyer credits, sales are sales. When compared to 2009, the number of sales as well as the sale to list ratio show improvement. The following statistics reflect activity between January 1 and March 8th in regards to single family residences only. So far this year, there were 69 homes reported as SOLD within the South Lake Tahoe Association of Realtors’ Multiple Listing Services. Among these 69 sales, the sales to list ratio averaged 101.78% for those homes sold within 31 – 60 days on the market. (This time period includes the accumulation of days from being posted as a new listing through the escrow period.) Homes that sold within 61 – 90 days on the market averaged 96.94% and those that sold 91 – 120 days averaged 92.16% of the asking price.

The same time period in 2009 showed 52 homes sold with an average of 96.61% when sold in the first 60 days, 94.04% when sold within 61-90 days and 90.69% when sold 91-120 days on the market. During 2008, there were 36 sales with an average of 99.06% when sold within the first 60 days, 98.39% when sold within 61-90 days and 90.69% when sold within 91-120 days on the market.

Although the sale to list ratio for the same time period in 2008 was more similar to those we are experiencing in 2010, there were only 36 reported closings.