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.
South Lake Tahoe Real Estate Market Update, June 24- June 30
This past week the amount of listings was down 10 from the previous week. According to the South Lake Tahoe Association of Realtors’ MLS there were 23 NEW (or back on the market) listings. The lowest priced new listing was 1592 Allen Rae for $244,900, a 4 bedroom, 3 bath home with 1847 square feet. The highest priced new listing was $1,040,000 for 428 Wedeln Ct., a Tahoe Keys home with 4 bedrooms, 3 baths and 2178 square feet. The overall median asking price last week was $465,000.
There were 7 NEW ESCROWS this past week, up 1 from the previous week’s 6. The lowest pending sale price was $179,900 for 2529 Osborne, a 2 bedroom, 1 bath with 775 square feet. The highest pending sale price was $895,000 for 2245 Del Norte, a Montgomery Estates home with 4 bedrooms, 3 baths and 4407 square feet. The overall median home price among last week’s pending sales was $349,000 with an average time on the market of 102 days.
Fortunately there was a large increase in the number of homes that were sold this past week. There were 18 CLOSED sales, up 10 from the previous week’s 8. The lowest sale price was $148,000 for 1008 Eagle, a North Upper Truckee home that needs to be entirely rebuilt with 3 bedrooms and 1992 square feet. The highest priced sale was $875,000 for 344 Uplands, a 4 bedroom, 3 bath with 2940 square feet. The overall median sale price for the past week was $327,000 with an average time on the market (including the escrow period) of 121 days.
South Lake Tahoe Real Estate Market Update, June 17- June 23
According to the South Lake Tahoe Association of Realtors MLS there were 33 NEW (or back on the market) listings, up from the previous week’s 26. The lowest priced new listing was 1223 Bonanza #7, a 2 bedroom, 1 bath condo with 841 square feet of living space for $75,000. The highest priced new listing was $3,295,000 for 2412 Cornice Ct., a 7 bedroom, 5 bath home with 7386 square feet. This home is in the Montgomery Estates neighborhood and has spectacular lake, forest and mountain views. The median asking price this past week was $369,000.
There were only 6 NEW ESCROWS this past week, down 3 from the previous week’s 9. The lowest pending sale price was $315,000 for 2691 Yokut St., a 4 bedroom, 2 bath with 1688 square feet. The highest pending sale price was $499,500 for 535 Christie, a Tahoe keys home with 3 bedrooms, 2 baths and 1734 square feet. The overall median home price among the new pending sales was $297,500 with an average time on the market of only 32 days.
There were 8 CLOSED sales this past week, down 7 from the previous week’s 15. The lowest sale price was $137,500 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet located in the Y neighborhood. The highest priced sale was $930,000 for 405 Christie, a 4 bedroom, 3 bath with 2050 square feet located in the Tahoe Keys. The overall median sale price for the past week was $278,500 with an average time on the market (including the escrow period) of just 57 days.
South Lake Tahoe Real Estate Market Update, June 3- June 9
Spring has arrived and with it a budding new report from the South Tahoe Association of Realtors. According to the data issued last week, there were (check it out) 28 NEW (or back on the market) listings. This number was considerably up from last week’s 20. Among these new listings, the lowest asking price is $175,000 (shall we say, “contractor’s special”) for 815 South Shore, a 2 bedroom, 2 bath with 1972 square feet. The highest priced new listing was $1,220,000 for breath-taking 2194 Chiapa, a 4 bedroom, 3.5 bath with 3694 square feet. Congrats to Pinnacle. The overall median new listing price for this week’s newest inventory was $304,500 which is below the current overall median home price of $320,000.
Another positive note is in regards to the 10 new PENDING sales, up from the previous week’s 9. The lowest asking price for the new pending sales is $149,000 for 681 Eloise #3, a 2 bedroom, 1 bath condo with 980 square feet. The highest priced new escrow is $675,000 for a bank-owned Tahoe Keys home located at 1992 Marconi Way. This home has 3 bedrooms, 2.5 bath with 2663 square feet. The overall median home price among the new pending sales was $324,000 with an average time on the market of 58 days.
The really good news is that there were 8 CLOSED sales this past week, up 3 from the previous week. The lowest priced sale was a short sale at $190,000 for 1767 Arrowhead, a 3 bedroom, 2 bath with 1040 square feet. The highest priced sale was $735,000 for 1857 High Meadow Trail, a brand new 3 bedroom, 2.5 bath with approximately 2900 square feet. The overall median home price was $308,500 with an average time on the market of 159 days. Over half of these nine sales were distressed sales. Never-the-less, the inventory is moving and buyers are finding great deals.
South Lake Tahoe Real Estate Market Update, May 28- June 3
The South Tahoe real estate market appears to be following its traditional “relaxed” activity for the period between the middle of May to the middle of June. The good news is that we can actually take a bit of time away from the computer and get out to enjoy the Tahoe beauty. Many thanks to my good friend Dewitt Jones for capturing a moment of pure fun. Dewitt is always reminding us to celebrate what’s right with the world and I must admit, golfing in a slight drizzle and somewhat chilly temperatures in Tahoe, is right up there at the top of the list. Now, back to work.
According to the South Lake Tahoe Association of Realtors’ multiple listing services, there were 20 NEW (or back on the market) listings this past week , up 2 from the previous week’s 18. The lowest priced new listing is $235,000 for 3311 Bruce, a 2 bedroom, 1 bath with 1962 square feet located in the Bijou neighborhood. The highest priced new listing was $2,195,000 for 2049 Aloha, a Tahoe Keys home with 5 bedrooms, 4 baths and 2893 square feet. The overall median new listing price for this week’s newest inventory was $389,450.
There were only 9 new PENDING sales, down from the previous week’s 15. Perhaps all of our recent snowstorms have dampened the spirits of spring visitors. The lowest asking price for the new pending sales is $150,000 for 1008 Eagle, a 3 bedroom a bank-owned fixer (an understatement) with 1922 square feet. Good job Pinnacle. The highest priced new escrow is $536,500 for 2142 Monterey, a 3 bedroom, 2 bath with 1832 square feet located in the Tahoe Keys. The overall median home price among the new pending sales was $264,900 with an average time on the market of only 19 days.
There were 5 CLOSED sales this past week, the same as the previous week. The lowest priced sale was $229,900 for 3534 Pinecrest, a bank-owned 3 bedroom, 2 bath with 1732 square feet. The highest priced sale was a short sale at $370,000 for 686 Michael, a 3 bedroom, 2 bath with 1570 square feet. This home is located just outside the Tahoe Keys. The overall median home price was $267,500 with an average time on the market of 78 days.