September South Tahoe Real Estate Statistics

September was a big month for sold homes in South Lake Tahoe. There were 62 single family properties that had closed escrow in September, up from 44 sold properties in August. Of the 62 properties that were sold in September, 58 were detached single family homes and 4 were condos.

Distress sales accounted for 27 of the sold properties in September. There were 10 short sales and 17 bank owned foreclosures that were sold in September. The short sales had an average sales price per square foot of $193 and the foreclosures had an average price per square foot of $145. The non-distress sale properties had an average price per square foot of $198.

September South Tahoe Real Estate Statistics

• There were 62 single family homes reported as sold on the South Lake Tahoe MLS in September, up from 44 in August.
• The average price per square foot of the single family homes in South Lake Tahoe that were sold in September was $183, down from $192 in August.
• The average sales price was $306,721, down from $343,558 in August.
• The median sales price was $233,250, down from $295,000 in August.
• There were 10 short sales in South Lake Tahoe that sold, up from 6 in August.
• There were 17 bank owned foreclosures in South Lake Tahoe  that sold, up from 11 in August.
• The average days on the market was 136 and the median days on the market was 99.

September Statistics for Foreclosures in South Lake Tahoe

• The 17 foreclosures that sold in September had an average price per square foot of $145.
• The average sales price of the foreclosures was $258,292.
• The median sales price of the foreclosures was $213,357.
• The average days on the market was 113 and the median days on the market was 87.

September Statistics for Short Sales in South Lake Tahoe

• The 10 short sales that sold in September had an average price per square foot of $193.
• The average sales price was $331,252.
• The median sales price was $215,000.
• The average days on the market was 264 and the median days on the market was 245.

With only 4 condos that were sold in September there is not enough sales to report the statistics. Three of the condos that were sold were in the Tahoe Keys which does not surprise me. The summer time is when the Keys Condos seem to sell the best.

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South Tahoe Property Statistics for April

Now that the snow is melting and the lake is filling up, sellers are beginning to prepare their homes for the market here in South Lake Tahoe. Although many home buyers think of the summer as the best time to buy Real Estate in Lake Tahoe, many did not wait for the sun to come out to purchase property.  There were 38 single family homes in South Lake Tahoe that were sold on the South Lake Tahoe MLS during the month of April.  Although both the median sales price and average sales price were very close to what they were in March, the average price per square foot was down from $197 to $186.

Distress sales accounted for over half of the homes in South Lake Tahoe that were sold last month. There were 14 bank owned foreclosures and 8 short sales that were sold in April. 58% of the homes sold in April were either short sales or foreclosures.

South Tahoe Real Estate Statistics

• The average sales price of the houses in South Lake Tahoe that were sold in April was $342,063, down from $349,941 in March.
• The median sales price of the sold housesin April was $314,500, up from $310,000 in March.
• The average price per square foot in April was $186, down from $197 in March.
• The average days on the market was 141.
• The median days on the market was 115.
• There were 14 bank owned foreclosures that were sold in April which is down from 17 in March.
• There were 8 Short Sales that were sold in April which is up from 3 in March.
• The average price per square foot for the Short Sales that were sold was $186.
• The average price per square foot for the foreclosures that sold was $151.

As of now, there are 370 single family homes that are listed on the South Lake Tahoe MLS. There are 287 homes that are active and 83 that are active pending.

There are 60 condos that are listed on the MLS. There are 51 condos that are active and 9 that area active pending. There was only one condo that was sold in April.

There are 119 vacant lots that are listed on the MLS. There are 125 lots that are active and only 4 that are active pending. There were only 2 lots that were sold in April.

There was only one condo that was sold in April which was a bank owned foreclosure in Lakeland Village, a 2 bedroom, 1.5 bath townhouse unit that sold for $250,000.

South Tahoe Real Estate Statistics for December 2010

December ended up being a solid month in terms of closings for the South Lake Tahoe Real Estate Market. There were 40 single family homes (not including condos) that were sold on the South Lake Tahoe MLS. Although the average price per square foot dropped below $200 per square foot, both the average and median sales prices were up from November.

South Lake Tahoe MLS Statistics

• There were 40 single family homes in South Tahoe that were sold in December, up from 38 sold homes in November and down from 49 sold homes in December 2009.
• There were 24 distress sales in December. 17 of the sales were bank owned foreclosures and 6 were short sales. 60% of the homes sold were distress sales, up from 53% in November and up from 43% in December 2009.
• The average sales price for the sold  South Tahoe Homes was $404,998, this is up from $362,943 in November and down from $469,281 in December 2009.
• The median sales price was $332,000, up from $291,250 in November and down from $343,000 in December 2009.
• The average price per square foot was $192 which was down from November when it was $212. The price per square foot was also down from December 2009 when it was $220.

There were 5 Tahoe Keys Homes that were sold in December. The houses in the Tahoe Keys that sold had an average price per square foot of $276. The median sales price was $625,000 and the average sales price was $812,500.  Only one of the sold Tahoe Keys homes was a foreclosure, none were short sales.

South Tahoe Real Estate Statistics

 South Lake Tahoe MLS statistics as of November 17, 2010

The following statistics are for Residential (single family and condo/town homes) located in the City and County areas of South Lake Tahoe:

• The total number of listings on the South Lake Tahoe MLS is 511 (78 of the homes are listed by Chase=15.3% of the inventory).
• 412 of the listings are active (still available) 42 of the active listings are short sales and 31 are bank owned listings. Only 17.7% of the active inventory is distress sales.
• 99 of the listings are in escrow. 50 of the current houses in escrow are short sales and 25 are bank owned. 75.8% of the current escrows are distress sales.
• The 99 escrows represent 19.4 % of the total inventory in escrow.

Breakdown by price range of the 99 escrows

• Under $200,000         21 properties
• $201-$300,000         37 properties
• $301-$400,000         16 properties
• $401-$500,000         9   properties
• $501-$600,000         3  properties
• $601-$700,000         5  properties
• $701-$800,000         3  properties
• $801-$999,000         4 properties
• Over 1 million            1  property

So far this year there have been 495 single family homes and condos sold in the South Lake Tahoe MLS.

• 145 of the properties sold were bank owned foreclosures (29.3%)
• 81 of the properties sold were short sales (16.4%)

There are currently 80 single family homes and condos listed in the Tahoe Keys area. 68 of the properties are active, and 12 of the properties are in escrow.  The current Tahoe Keys inventory includes 8 bank owned properties and 7 short sales. There have been 58 properties sold in the Tahoe Keys so far this year. 8 of the sold homes were foreclosures and 6 of the homes were short sales.

 

 

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