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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.

Tahoe Paradise

The Tahoe Paradise area was named perfectly to describe the setting of the area. Tahoe Paradise is a great area for buyers looking to own property in South Lake Tahoe away from the crowds, but not too far away. Tahoe Paradise is located near the far western end of Pioneer Trail where it intersects Highway 50 near Meyers and extends westward past the Tahoe Paradise Golf Course.

The quiet setting of the Tahoe Paradise area offers larger wooded and sometimes gently sloping lots. The area boarders National Forest Land and the Tahoe Paradise Golf Course, so lots with mountain and golf course views are not uncommon. There are also many lots backing to Forest Service and Conservancy land. The wildlife in the area is abundant and it is common to see bears, coyotes, birds, and other local wildlife roaming through the forest.

There is a wide range of home sizes and styles in the Tahoe Paradise area. There are many chalet and cabin style homes that were built in the 1960’s and 1970’s along with newer construction homes. Tahoe Paradise has been a sought after location for buyers looking for a cabin feeling home in a quiet forested setting.

The location of the Tahoe Paradise area is perfect for outdoor enthusiasts. There are endless opportunities for outdoor activities such as mountain biking, hiking, cross country skiing, snowmobiling, and golfing that exist in the Tahoe Paradise area. With easy access to Highway 50 and Pioneer Trail, the local ski resorts, Lake Tahoe, and the casinos are within minutes as well.

The Tahoe Paradise area is an area that provides the true Lake Tahoe experience and should be considered when looking at Real Estate in South Lake Tahoe!

March South Tahoe Real Estate Statistics

March was a great month for closings on the South Lake Tahoe MLS. There were 44 single family homes in South Lake Tahoe that were reported as sold during the month of March. The number of sold homes in South Tahoe was up in March from only 30 home sales in February. The median sales price of the homes that were sold in March was $310,000 which was down 2.4% from March 2010, but was up substantially from $269,200 from what it was in February.

The number of sold foreclosures in South Lake Tahoe were also up in March. There were 17 bank owned single family homes that were sold in March which was up from 10 in February. There were only 3 short sales that closed escrow in March which was down from 5 short sale closings in February.

South Lake Tahoe Real Estate Statistics

The median sales price of the homes in South Lake Tahoe that were sold in March was $310,000, up from $269,200 in February.
The average sales price of the houses in South Lake Tahoe that were sold in March was $349,941, down from $356,770 in February.
The average price per square foot was $197, up from $188 in February.
The average days on the market was 153 and the median days on the market was 125 including the escrow period.
There were 17 bank owned foreclosures (REO’s) that were sold, up from 10 in February.
There were 3 short sales in South Lake Tahoe that were sold, down from 5 in February.

The foreclosures in South Tahoe that were sold in March had an average sales price of $242,621 and a median sales price of $215,000. The average price per square foot of the foreclosures that were sold was $169 per square foot, much lower than the non-foreclosures that sold for $217 per square foot.

Currently there are 345 total single family listings on the South Lake Tahoe MLS. There are 266 listings that are active and 79 that are active pending. Short sales account for 75 of the current MLS listings. Out of the 75 short sale listings, 35 are active, and 40 are active pending. Bank owned foreclosures accout for 42 of the single family listings. There are 26 foreclosure listings that are active, and 16 that are active pending.

Echo Summit and American River Canyon

The Echo Summit and American River Canyon areas consist of Echo Summit, Fresh Pond, Kyburz, Phillips, Silver Fork, Strawberry, Twin Bridges, Whitehall, Echo Lakes, and Writes Lake. This is the area east of Pollock Pines and west of Meyers on Highway 50.

The Echo Summit and American River Canyon areas offer a much more secluded setting than properties in the Tahoe Basin. The properties that are scattered along the American River and through out the forest land draw a specific buyer looking to get away from the crowds and enjoy peace and quiet in an Alpine setting.

Many of the properties in the American River Canyon are U.S. Forest Service Cabins. The land that the Forest Service cabins are built on is owned by the United States Forest Service. The land is leased in 20 year increments and the cost can range anywhere from $400 per year and up. The cabins can be purchased and sold, but are considered Personal Property, not Real Property. Banks do not loan on Forest Service cabins because they are considered personal property. Most Forest Service cabins are purchased with cash or owner financing. Most Forest Service cabins are summer use cabins that do not have winter access, plowed roads, or year round water. For more information about Forest Service Cabins you can visit the Forest Service website at http://www.fs.fed.us/r5/eldorado/recreation/recres/.

The Echo Summit and American River Canyon areas are a great location for buyers looking for an Alpine Setting and seclusion at an affordable price.

Cascade Properties

Cascade Properties is an exclusive gated community of Lake View and Lakefront properties in South Lake Tahoe. Cascade Properties is located about 5 miles north of the Y on Highway 89. This is the closest development that there is to Emerald Bay. Cascade Properties is an unincorporated area in El Dorado County. If you are looking for luxury real estate in South Lake Tahoe, Lakefront properties, or Lake view homes with privacy, Cascade Properties is the place for you.

Cascade Properties is nesteled inbetween Cascade Lake and Lake Tahoe. Most of the properties are lakefront homes or have incredible lake views. Towering pine trees, large granite boulders, and breathtaking lake views make Cascade Properties one of the most desired locations in Lake Tahoe. Cascade Creek runs through the area and flows into Lake Tahoe creating another unique feature to the area.

Many of the homes have piers or buoy’s for boat mooring. There is also a homeowners pier maintained by the HOA for the properties that do not have a private pier. The HOA also maintains that roads, snow removal, and water.

Camp Richardson

The Camp Richardson area is one of the most sought after locations for Luxury and Lakefront Real Estate in South Lake Tahoe. The Camp Richardson area is an unincorporated area in El Dorado County about 2.5 miles north of the Y on Highway 89. The Camp Richardson area is also known as the Jameson Beach area, because all 41 properties in the area are located on Jamison Beach Road.

All of the 41 properties in the Camp Richardson area are either lakefront or meadow front properties with views. The properties on the lakeside have amazingsandy beaches that lead to the emerald waters of Lake Tahoe. The meadow front properties are steps from the lake and have fabulous meadow and mountain views. The Camp Richardson area homes are priced from $2,000,000 and up.

The Camp Richardson area offers a very secluded and peaceful setting that is only a couple miles from the town of South Lake Tahoe. Just north of Jamison Beach road is Camp Richardson Resort which has a full service marina, lodging, activities, and the Beacon Bar and Grill.

Camp Richardson is a must see area for any buyers looking for Lakefront Real Estate