South Lake Tahoe Real Estate Statistics

Here are the current South Lake Tahoe real estate statistics from the South Lake Tahoe MLS.

The following statistics are for residential (single family, condo, and town houses) located in the City and County areas of South Lake Tahoe:

Total listings: 520

Active listings: 408

In Escrow: 112

Of the 112 single family homes that are in escrow 52 are short sales and 15 are bank owned foreclosures.

The 112 escrows represent 21.5% of the total inventory in escrow.

Breakdown by price range of the 112 escrows

• Under $200,000-18 escrows
• $200,001 to $300,000-36 escrows
• $300,001 to $400,000-25 escrows
• $400,001 to $500,000-5 escrows
• $500,001 to $600,000-10 escrows
• $600,001 to $700,000-2 escrows
• $700,001 to $800,000-9 escrows
• $800,001 to $999,999-4 escrows
• Over $1,000,000- 3 escrows

There have been a total of 198 single family properties sold so far this year in South Lake Tahoe. Bank owned foreclosures have accounted for 35.7% (71) of the sales, and short sales have accounted for 16.2% (32). The total percentage of distress sales (short sales and foreclosures) sold so far this year is 52%. That means that over half of the single family sales in South Lake Tahoe have been distress sales.

Single family sold statistics from the South Lake Tahoe mls:

Average price per square foot:

• $241 for non distress sales
• $207 for short sales
• $172 for foreclosures

Median sales price:

• $313,750 for all single family sales
• $326,250 for short sales
• $235,000 for foreclosures

Median days on the market

• 107 days for all single family sales
• 229 days for short sales
• 74 for foreclosures

Below is a graph of the median sales price for South Lake Tahoe for the last year from Trulia.com , which is also great source for local real estate statistics. I love Trulia for statistics, but I would not use it for searching for properties.

I hope that you have found these most recent South Lake Tahoe Real Estate Statistics helpful. For more information regarding the South Lake Tahoe real estate market, please call Brent Johnson today!

Recent Home Buyer Testimonial

I recently had the pleasure of assisting Rick and Clare in the purchase of their vacation home in South Lake Tahoe. Rick and Clare were able to purchase a completely remodeled home in Meyers that fit them perfectly. I am happy to share my home town with Rick and Clare.

Here is what Rick and Clare had to say about their home buying experience with me.

“Brent,

We wanted to take the opportunity to express our thanks to you for helping us with the purchase of our South Lake Tahoe vacation home. 

  From the start we felt very comfortable working with you.  Prior to us coming to South Lake Tahoe to view properties, you helped set up viewings of the properties we had sifted through online and sent us several suggestions you had in our price range.  Ultimately we purchased a property which you had sent to us as a recommendation.  On the day we viewed properties, you quickly picked up what type of property we were interested in and didn’t push us into viewing properties we weren’t interested in or were out of our price range.

  When we made an offer on our property, you showed a good understanding of the current market and helped us come to a decision on our offer price.  We appreciated your efforts in working through the counter offer.  With us not living in the area, it was so reassuring and comforting to know you were on top of the inspections, disclosure packages, etc. and that we could call you with any questions we had.

  We have purchased several properties in 4 different states over the course of our “young” lives, and we can say without hesitation that  working with you was one of our best experiences.  We will certainly recommend  you to anyone we know purchasing property in the South Lake Tahoe area.

  Thanks again for all your efforts”

  Best Regards,

Rick and Clare

I am happy to share my home town of South Lake Tahoe with Rick and Clare!

April South Lake Tahoe Real Estate Statistics

As usual, when the weather warms up in South Lake Tahoe, the real estate market follows. Home sales continued their upward trend and rose from 40 houses sold in March, to 46 houses sold in April. This is a huge jump from April 2009 when only 26 houses closed escrow. The continuing improvements in the economy, low interest rates, low prices, and the first time home buyer tax credits stimulated the increase in sales. There are currently 438 listings on the South Lake Tahoe MLS, and 108 of them are in escrow.

 Distress sales dropped from 58% of the sales in March to 48% in April. There were 18 bank owned foreclosures and 4 short sales that sold in April. Currently there are 30 bank owned foreclosures listed on the South Lake Tahoe MLS, and 15 are in escrow. There are 79 short sale listings, and 50 of the short sales are in escrow.

April South Lake Tahoe Real Estate Statistics

• There were 46 single family home sales in April, up from 40 in March, and up from 26 in April 2009.
• The average price of the homes sold in South Lake Tahoe was $386,177, down from $404,053 in March, and up from $327,342 in April 2009.
• The median sales price was $329,163, down from $350,500 in March, and up from $295,000 in April 2009.
• The average price per square foot was $211 which was down from $221 in March, and up from $204 in April 2009.
• The average days on the market was 158 which was up from 141 in March, and down from 190 in April 2009.
• The median days on the market was 112 which was up from 111 in March, and up from 108 in April.
• There were 18 bank owned foreclosures that sold in April, up from 16 in March, and up from 7 in April 2009.
• There were 4 short sales that sold in April which was down from 7 in March, and up from the 2 that sold in April 2009.

Spring and Summer is also the time that the Tahoe Keys Real Estate typically begins to pick up. In April there were 5 houses that sold in the Tahoe Keys area. One of the houses sold was a foreclosure and one was a short sale. There are currently 66 listings in the Tahoe Keys on the South Lake Tahoe MLS and only 9 are in escrow. The least expensive single family home listing on the water is my listing at 2213 Texas. This is a 3 bedroom, 2 bath, 2 car garage house that has been completely remodeled and has great views.

For more information about the South Lake Tahoe real estate market, please call California and Nevada real estate agent Brent Johnson today!!!

Recent Testimonials

“I’d like you to know that working with you has been the single best experience we’ve had with a real estate agent. You were professional and aggressive on our behalf every step of the way. And the added challenge of handling the transaction across two continents did not phase you.

Amy and I thank you very much. Selling a home for just about asking price in that market is no small feat.

And you should know that if we ever decide to return to find our dream house on the lake, the first thing we will do is call you (and maybe get you a real commission). And in the mean time, we will definitely recommend you to our friends back in Sacramento should they ever be looking to buy in Tahoe.”

Thanks again Brent,

Cesar and Amy
I also had a great experience with some clients who purchased a foreclosure in South Lake Tahoe. Dealing with a bank on the other side of a sale can be a challenging experience. I was able to negotiate a substantial price reduction after discovering some water damage on a  house near Heavenly Vally Ski Resort. Here is what my buyers had to say about me after the close of escrow:
“It was a great experience working with Brent on our recent vacation home purchase. Brent was helpful and quick to respond to our numerous questions. We were able to preserve our aggressive snowboarding schedule while house shopping due to Brent’s flexibility.”

Adrian and Theresa

If you would like to work with an agent who takes your transaction extreemly seriously and provides million dollar service, call South Lake Tahoe real estate agent Brent Johnson today!