April 2020 Real Estate Review

The South Lake Tahoe Real Estate market is seeing a decrease in the total number of listings from April 2019. This includes the Active Listings and those that are currently in Escrow. Out of the 201 Active Listings, none are Short Sale and there are 2 REO properties. Out of the 39 properties in Escrow, none are Short Sales and one is an REO. In April of 2019, there were 246 Total Listings, 189 Active Listings, and 57 Escrows. 

The median sales price for a Single-Family Home in South Lake Tahoe as of April 2020 is $470,000.00 which is down 2.1% from April 2019. In April of 2019, the median sales price was $480,000. There are currently 39 properties in Escrow and represent 19.4% of the total inventory. Here is a breakdown by price range of the 39 Escrows:

• Under $200,000- 0  0%
• $201,000 to $300,000- 3   7.7%
• $301,000 to $400,000- 9  30.8%
• $401,000 to $500,000- 8  
• $501,000 to $600,000- 3
• $601,000 to $700,000- 6
• $701,000 to $800,000- 3
• $801,000 to $999,000- 3
• Over $1 Million- 4 (4 are Chase of which 0 are Zalanta)

From January 1, 2020 to April 27, 2020 there have been a total of 147 closings which is up slightly from the number of closings during the same time in 2019 when there were 133 closings. 

Even though we have had more closings so far this year, I expect there to be less home sales in the first half of 2020 compared to 2019 judging by the lower number of pending sales. There has been an increase of activity over the last week which is quite encouraging despite the shelter in place requirements. 

I currently have 17 active listings and most of the listings had showings over the last weekend. 6 of my listings received multiple showings and we received offers on 5 of the listings which is a big jump in activity from the previous weekend.

Be sure to check out my Virtual Showing Videos by accessing my YouTube Channel and you can access it by the link –Brent Johnson’s YouTube Channel Click “Subscribe” for upcoming Virtual Showing Videos! 

You can also follow along on my Social Media pages for new listings!

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