New Listing in South Lake Tahoe

Just Listed on the South Lake Tahoe MLS!

1476 Glenwood Way

 

Completely remodeled home with an open floor plan perfect for entertaining! Recent upgrades include granite countertops, kitchen cabinets, tile bathrooms, laminate flooring, new carpet, and new interior paint. Located close to Heavenly Ski Resort, the Casino’s, and The lake, this would make a great vacation home or primary residence. This house comes furnished per inventory list including a hot tub! Make sure to take a look at the virtual tours as well!

 

• 1406 Square Feet
• 3 Bedrooms, 2 Bathrooms, and a 2 Car Garage
• New Double Pane Vinyl Windows
• Recently Remodeled
• Fully Furnished including a Hot Tub!
• Single Level Living
• Much More!!!

Make sure to take a look at the Virtual Tour of my new listing which was entered on the South Lake Tahoe MLS on 6/28/10. For more information or to set up an appointment to see 1476 Glenwood call South Lake Tahoe Real Estate Agent Brent Johnson today!

Tahoe Keys Waterfront Just Reduced!

2213 Texas Ave.

Just Reduced!!!

Ofered at $439,000

South Lake Tahoe Real Estate agents Brent and Jill Johnson have just listed one of the least expensive waterfront properties in South Lake Tahoe! This waterfront home is located in the Tahoe Keys and has expansive waterfront views and amazing sunsets! You will be impressed with this recently remodeled Tahoe Keys home that overlooks Lake Tallac. The 2007 remodel included new kitchen with hickory cabinets, quartz slab counter tops, stainless steel appliances, and distressed hickory hardwood flooring. The windows have been replaced with new double pane vinyl frame windows and the roof was replaced about 7 years ago. The second level of this upstairs living house is wheel chair accessible by a ramp that connects to the upper back deck.

click on this link to see the virtual tour of this remodeled house for sale in the Tahoe Keys!

• 3 bedrooms, 2 bath, 2 car garage
• 1440 square feet
• 6753 square foot lot
• recently remodeled including new front siding and a new roof!
• Great Tahoe Keys HOA amenities including indoor and outdoor pools, spa, beach, pier, boat launch, marina, park, tennis, basketball, volleyball, and security

For more information about this great house in the Tahoe Keys area please give South Lake Tahoe real estate agent Brent Johnson a call today!

May South Tahoe Real Estate Stats

May was a much better month for the South Lake Tahoe real estate market than it was for the stock market! There were 42 single family homes that closed escrow in South Tahoe during the month in May 2010. This is a significant increase from the 27 homes that closed escrow in May 2009. The stock market did not fair nearly as well!

Distress sales were once again on the decline. Distress sales only accounted for 38% (16) of the sales in May, down from 48% in April, and down from 58% in March. Foreclosures accounted for only 9 of the closed sold homes, short sales accounted for the other 7.

May South Tahoe Real Estate Statistics

• There were 42 single family homes reported as sold on the South Lake Tahoe mls in the month of May. This is up from 27 in May 2009 and down from 46 in April 2010.
• The average price of the homes sold was $462,367 (The average drops to$387,669 if I take out the lakefront Keys sale for $3,525,000) The average sales price was $386,177 in April and $355,633 in May 2009.
• The median sales price of the homes sold in May was $322,000. This is down from $329,163 in April and up from $315,000 in May 2009.
• The average price per square foot was $216. The average price per square foot was $211 in April and $222 in May 2009.
• The average days on the market was 145, down from 158 in April and down from 147 in May 2009.
• The median days on the market was 99, down from 112 in April and down from 137 in May 2009.

The distress sales that sold in May had a very low price per square foot compared to the non-distress sales. The foreclosures that sold had an average price per square foot of $165 and the short sales had an average price per square foot of $170. The price per square foot for the non-distress sales was $245.

Here are some other interesting statistics for the distress sales sold in May:

• Including the escrow period, the foreclosures had an average days on the market of 66. The sold short sales averaged 286 days!
• The foreclosures had a median days on the market of 76 days including the escrow period. The sold short sales had a median days on the market of 204!
• The average sales price of the foreclosures was $257,156. The average sales price was $479,857 for the short sales.
• The median price of the sold foreclosures was $229,900. The median sales price was $525,000 for the short sales.

There were only two lots in South Lake Tahoe that sold in May. Both lots that sold were in the North Upper Truckee area. One was a lot in the burn area that sold for $145,000 and one was a 10,511 square foot lot that sold for $95,000.

There was one condo that sold in May. This was a 2 bedroom 1.5 bath unit in the Tahoe Keys that sold for $290,000.

There was also only one multi family unit that sold in May. This was a property that had 2 houses on one lot in the Tahoe Island Drive area. These homes sold for $240,500.

 The most active area of the South Lake Tahoe real estate market continues to be the single family homes. It is great to see that the percentage of short sale and foreclosure sales has continued to decline for the third consecutive month. The percentage of distress sale closings has gone down to 38% from 65% in February. This is another sign of stabilization in the housing market. I hope that it continues!

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!

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!!!

Next Page »