Lake Tahoe Real Estate Statistics for August 2010

August Real Estate in South Lake Tahoe

August was a much better month for the real estate market in South Lake Tahoe than July was. The number of single family homes that were reported as sold on the South Lake Tahoe mls was up from 31 sales in July to 49 sales in August. The number of homes sold was also up from August 2009 when 45 houses were sold. Although the number of houses sold was up, both the median and average sale prices were down from both last month and last year.

South Lake Tahoe Real Estate Statistics

• There were 49 single family houses that were sold on the South Lake Tahoe MLS.
• Bank owned foreclosures accounted for 16 of the sales and short sales accounted for 7.
• The median sales price of the sold homes was $289,000, down from $330,000 in July and down from $325,250 in August 2009.
• The average sales price was $355,002, down from $382,642 in July, and down from $461,591.
• The average days on the market was 128 and the median days on the market was 83.
• The average price per square foot was $207, down from $229 in July, and down from $259 in August 2009.

One of the reasons that the median sales price, average sales price, and price per square foot was down this month was the amount of bank owned properties that sold. There were 16 foreclosures sold that had an average price per square foot of only $177. The median sales price for the foreclosures was only $232,138. If you remove the foreclosures from the statistics, the average price per square foot jumps up to $222, the median sales price goes up to $334,900, and the average sales price goes up to $368,967. As you can see, the foreclosures continue to hurt the housing prices in Lake Tahoe.

The Tahoe Keys area had 6 homes that were sold in August. One of the houses sold in the Keys was a bank owned foreclosure, and one was a short sale. The foreclosure in the Tahoe Keys that sold was 1276 White Sands. This was a 5 bedroom, 3.5 bath, 3206 square foot home listed at $1,127,900. This house sold well above asking price at $1,225,000. Many of the foreclosed properties that are priced well are receiving multiple offers and selling over the list price. The average price per square foot for the sold Tahoe Keys homes was $292. The Median sales price was $575,000 and the average sales price was $669,167.

Although the median sales price and the average sales price was down in August, the number of closed escrows was up. With 112 of the 527 homes that are currently listed on the South Lake Tahoe MLS in escrow,  buyer activity continues to be very active. I anticipate another solid month of closings in September because of the high number of pending sales currently on the MLS.

July Real Estate in South Lake Tahoe

July South Lake Tahoe Real Estate Statistics

The number of single family homes that sold in July fell to 31 from the 53 that sold in June. One reason for the decline in home sales could have been the expiration of the first time home buyer tax credit that had expired on June 30. Out of the 31 homes that were reported as sold on the South Lake Tahoe mls, 6 were bank owned foreclosures and 7 were short sales. That puts the percentage of distress sales at 42% for the month of July.

Statistics for the South Lake Tahoe Homes that sold in June

• There were 31 single family homes that were reported as sold on the South Lake Tahoe mls, that is down from 53 in June.
• 13 of the properties that sold were distress sales. 7 were short sales and 6 were foreclosures.
• The median sales price of the sold homes was $330,000, up from $319,000 in June.
• The average sales price of the sold homes was $382,642,  down from $416,292.
• The average days on the market was 130 and the median days on the market was 84.
• The average price per square foot was $229, up from $209 in June.

2010 July home prices were very close to what they were in July 2009. In July 2009 the median home sales price was $339,000 ($330,000 in 2010). The average sales price for the homes sold was $393,187 ($382,642 in 2010). The number of home sales was also down from 38 in 2009 to 31 in July 2010.

The bank owned foreclosures that sold in July had an average price per square foot of $201. The median sales price was $387,000 and the average sales price was $409,983. This was the first month that I have seen the foreclosure prices higher than the non-foreclosure prices. There was one foreclosure in the Tahoe Keys area that was sold.

The short sales in South Lake Tahoe that were sold in July had an average price per square foot of $217. The average sales price for the short sales was $241,143 and the median sales price was $249,000.

South Lake Tahoe Foreclosures For Sale

Foreclosure Listings in South Lake Tahoe

Below is an updated list of the foreclosures for sale in South Lake Tahoe that are listed on the South Lake Tahoe MLS. There are currently 49 single family foreclosure listings and 14 of them are in escrow. The average listing price for the foreclosures is $323,835. The current median listing price is $256,000. The average list price per square foot is $180. Just click on the address for detailed listing information about the property. For more information about any of these foreclosure listings, please call Brent Johnson at (530) 416-2625.

Updated on 9/2/10

• 1032 Carson- 999 square foot, 2 bedroom, 1 bath foreclosure in the Sierra Tract offered at $144,900
• 1046 River Dr- 3060 square foot Tri-plex on the meadow offered at $324,900
• 1055 Cellador- 1750 square foot tri-plex offered at $180,900
• 3535 Lake Tahoe Blvd- 1 bedroom, 1 bathroom condo in Lakeland Village offered at $248,000
• 439 Ala Wai- 1 bedroom, 1 bathroom condo in the Tahoe Keys offered at $204,900
• 489 Tahoe Keys Blvd- 2 bedroom, 1.5 bath, 1 car garage, 1014 square foot condo in the Tahoe Keys offered at $299,900
• 477 Lido- 4 bedroom, 2 bath, 2 car garage, 2755 square foot foreclosure in the Tahoe Keys
• In Escrow! 977 Edgewood Cir- 2 bedroom, 2 bath, 2 car garage, 1247 sq. foot home offered for $224,900
• 3682 Alder Ave- 2 bedroom, 1 bath, 572 sq. foot bank owned cabin offered for $159,900
• 1946 Herbert Ave- 3 bedroom, 2 bath, 3 car garage, 2439 sq. foot unfinished foreclosure offered at $299,000
• 3606 Birch Ave- 3 bedroom, 2 bath, 1166 square foot foreclosed cabin near Heavenly offered at $129,900
• 3235 Marlette Cir- 4 bedroom, 2.5 bath, 2 car garage, 1711 square foot home offered at $248,900
• In Escrow! 884 Kekin St- 3 bedroom, 2 bath, 1728 square foot remodeled home with a carport offered at $269,900
• In Escrow! 3522 South Upper Truckee- 3 bedroom, 2 bath, 2 car garage, 2320 square foot home offered at $299,900
• 1909 Elks Club- 3 bedroom, 2.5 bath, 3 car garage, newer 2926 square foot home offered at $539,900
• 796 Clement- 4 bedroom, 2 bath, 2 car garage, 1800 square foot foreclosure in the Gardner Mountain area offered at $275,700.
• 1840 Shady Ln- 4 bedroom, 2 bath, 1 car garage, 1581 square foot home offered at $354,900
• 1137 Keller Rd- 2 bedroom, 1 bath, 816 square foot foreclosure cabin near Heavenly Valley Ski Resort offered at $199,000
• 3673 David Ln- 6 bedroom, 4 bath, 2 car garage, 2734 square foot foreclosure near Heavenly Valley Ski Resort offered at $535,000
• In Escrow! 2754 Springwood- 3 bedroom, 2 bath, 2 car garage, 1974 square foot home in Highland Woods offered at $319,900
• 1805 Arrowhead- 2 bedroom, 1 bath, 1 car garage, 864 square foot foreclosure in Meyers offered at $224,900
• In Escrow! 2421 Wagon Train Trail- 4 bedroom, 2 bath, 2 car garage, 3426 square foot newer bank owned home in Montgomery Estates offered at $605,000
• 967 Kiowa Dr - 2 bedroom, 1 bath, 912 square foot bank owned cabin off of North Upper Truckee offered at $169,000
• In Escrow! 621 Tehema Dr- 4 bedroom, 2 bath, 2 car garage, 1504 square foot cabin off of North Upper Truckee offered at $256,000
• 550 Lake Tahoe Blvd- 3 bedroom, 1 bath,  1092 square foot home offered at $249,000
• 844 Muskwaki Dr- 5 bedroom, 3.5 bath, 2 car garage, 4475 square foot newer foreclosure offered at $866,000
• 1590 Miztec St- 6 bedroom, 5 bath, 2 car garage, 4015 square foot home with an indoor pool offered at $873,000
• 2600 Kubel- 2 bedroom, 1 bath, 852 square foot cabin in the Sierra Tract offered at $109,000
• 1041 River- 3 bedroom, 1 bath, 810 square foot cabin offered at $129,900
• 1242 Lodi- 3 bedroom, 2 bath, 1092 square foot foreclosure offered at $199,900
• 1091 Aspenwald Rd- 3 bedroom, 1.75 bath,, 1 car garage, 1260 square foot home offered at $189,000
• 2204 Dunlap Dr- 3 bedroom, 2 bath, 2 car garage, 1288 square foot home offered at $229,900
• 1858 Venice Dr- 5 bedroom, 3 bath, 2 car garage, 2456 square foot foreclosure in the Tahoe Keys offered at $398,900.
• 2019 Garmish Ct- 4 bedroom, 2.5 bath, 2 car garage, 2584 square foot foreclosure in the Tahoe Keys offered at $685,000
• 2042 Aloha Dr- 3 bedroom, 3 bath, 2 car garage, 2457 square foot foreclosure in the Tahoe Keys offered at $675,900
• 1523 Plumas Cir- 3 bedroom, 1 bath, 1292 square foot cabin in the Tahoe Paradise area offered at $224,900
• 1617 Oglala- 3 bedroom, 3 bath, 2 car garage, 2114 square foot newer home offered at $364,900
• In Escrow ! 833 Modesto- 3 bedroom, 2 bath, 1686 square foot foreclosure in Al Tahoe offered at $239,900
• In Esceow! 1592 Allen Rae- 4 bedroom, 3 bath, 2 car garage, 1847 foreclosure offered at $237,900
• In Escrow! 3394 Red Lake Rd- 3 bedroom, 2 bath, 2 car garage, 1681 square foot home offered at $239,800
• In Escrow! 2324 Alice Lake Rd- 3 bedroom, 2 bath, 2 car garage, 1630 square foot foreclosure in Montgomery Estates offered at $324,900
• In Escrow! 1778 Kickapoo 3 bedroom, 1 bath, 1 car garage, 1340 square foot cabin off of North Upper Truckee offered at $259,900
• In Escrow! 918 Forest Mountain- 5 bedroom, 4 bath, 2 car garage, 3247 square foot home offered at $499,000
• In Escrow! 2560 Pinter- 3 bedroom, 2 bath, 1274 square foot home in the Sierra Tract offered at $145,000
• In Escrow! 1071 Reno- 2 bedroom, 1 bath, 864 square foot foreclosure in the Sierra Tract offered at $149,900
• In Escrow! 1040 River Drive- 3 bedroom, 2 bath, 2 car garage, 1656 square foot home offered at $219,900
• In Escrow! 2171 Royal- 2 bedroom, 2 bath, 1 car garage, 1420 square foot home in Tahoe Island Drive offered at $199,900
• In Escrow! 2058 Lukins Ave- 3 bedroom, 2.5 bath, 2 car garage, 1882 square foot newer home offered at $359,900
• In Escrow! 1884 Blackfoot Rd- 4 bedroom, 3 bath, 3 car garage newer 3558 square foot home in the Tahoe Paradise Area offered at $584,800

New Foreclosure Listing in Lakeland Village

3535 Lake Tahoe Blvd. #229 in Lakeland Village

Do not miss out on this great opportunity to purchase a bank owned foreclosure in Lakeland Village! This one bedroom, one bathroom, 607 square foot suite has been remodeled and needs only appliances to be the perfect Lake Tahoe getaway. Some of the great features of this property include granite countertops, newer wood cabinets, and custom tile.  Lakeland Village offers a private beach, pool, hot tub, tennis courts, a pier and much more!

• 607 square feet
• 1 bedroom and 1 bathroom
• Pool
• Spa
• Private Beach
• Tennis Courts
• Pier
• On site maintenance and property management

For more information about this U.S. Bank owned listing, please call South Lake Tahoe real estate agent Brent Johnson today! This property is being sold in As Is Condition, U.S. Bank is making no representations or warranties.

Great Cabin Listing in Historic Al Tahoe!

940 Star Lake Ave.

Offered at $289,000!

   Just Listed on the South Lake Tahoe MLS!!!

Do not miss out on this great opportunity to purchase a cabin in the Historic Area of Al Tahoe! Priced to sell, this well maintained mountain cabin is nestled on a large 10,805 square foot corner lot. Located within walking distance to lake, meadow, and community activities, this would make a fantastic vacation home. Owned by only one family, this home has been very well kept and is sold fully furnished. The possibilities are endless with 2600 square feet of additional TRPA verified coverage.

Click Here to see the virtual tours!!!

• 3 bedrooms and 2 bathrooms
• 10,805 square foot lot
• 1136 square foot cabin
• 2600 square feet of additional coverage
• Newer roof
• Large patio with a built in barbeque great for outside entertaining
• fantastic location close to the lake and bike trail
• Priced to sell!!!

To make an appointment to see this cabin listing in South Lake Tahoe, please call California and Nevada real estate agent Brent Johnson today!