Prices in the South Lake Tahoe Real Estate market have continued to steadily rise throughout the spring and into the summer season. The median sales price for residential single family homes was up 20.9% in June from the previous year. The median price rose from $235,000 in June of 2012 to $284,000 in June of 2013. The price per square foot of the single family and condo/townhouses also had a significant jump
during the same 12 month period. The average price per square foot was up to $222 in June 2013 from $177 in the previous year.
South Lake Tahoe Real Estate Statistics for June 2013
- There were 54 single family homes and condos that were sold in South Lake Tahoe in June, down from 75 in May and down from 77 in June 2012.
- The median sales price in South Lake Tahoe was $284,000, up from $270,000 in May and up from $235,000 in June 2012.
- The average sales price was $389,611, up from $385,508 in May and up from $279,311 in June 2012
- The average price per square foot was $222, up from $177 in June 2012.
- The average days on the market was 95 and the median days on the market was 54.
There were only 3 foreclosures in South Lake Tahoe that were sold in the month of June on the MLS. In June of 2012 there were 18 foreclosures that had sold. There are currently only 11 foreclosures listed on the South Tahoe MLS and 2 of the foreclosures are in escrow. It seems as if the banks are pricing the foreclosures much higher than they were over the last few years and that the foreclosure listings have a longer days on the market than they did in the past.
Short Sales in South Lake Tahoe
- There are currently 20 short sale listings on the South Tahoe MLS. 12 of the short sales are currently in escrow and 8 of the short sales are active.
- There were 6 short sales that were sold in June, down from 8 short sales in May and down from 12 short sales in June 2012.
- The average sales price of the short sales was $323,333.
- The median sales price of the short sales was $337,500.
- The average sales price per square foot wwas $160.
- The average days on the market was 123 and the medain days on the market was 212.
The number of homes and condos for sale in South Lake Tahoe is up slightly from May but seems to have leveled off. There are currently 387 houses listed on the mls, 107 of the homes are in escrow and 280 are still active. This is up from 374 listings last month with 106 in escrow and 268 active listings.
For more information about the South Lake Tahoe Real Estate market please call Brent Johnson today!