March 2020 Real Estate Review

The South Lake Tahoe Real Estate market is seeing a slight decrease in the total number of listings from March 2019. This includes the Active Listings and those that are currently in Escrow. Out of the 216 Active Listings, none are Short Sale and there are 4 REO properties. Out of the 54 properties in Escrow, none are Short Sales and none are REO. 

The median sales price for a Single-Family Home in South Lake Tahoe as of March 2020 is $470,000.00 which is down 1.3% from March 2019. There are currently 54 properties in Escrow and represent 37% of the total inventory. Here is a breakdown by price range of the 54 Escrows:

• Under $200,000- 1  1.9%
• $201,000 to $300,000- 2  5.6%
• $301,000 to $400,000- 12  27.8%
• $401,000 to $500,000- 14  
• $501,000 to $600,000- 4
• $601,000 to $700,000- 6
• $701,000 to $800,000- 6
• $801,000 to $999,000- 4
• Over $1 Million- 5 (4 are Chase of which 0 are Zalanta)

From January 1, 2020 to March 30, 2020 there have been a total of 123 closings which is about the same from the amount of closings during the same time in 2019 which was 121 closings. 

We are currently operating during the “Shelter in Place” order that the State of California is under as we are an essential service. We are needing to be creative in order for our clients to be able to purchase homes virtually during this time. I offer Virtual Showings on all of our Active Listings this way people can watch the video first to make sure this is something they are interested in. Buyer’s much be Prequalified prior to looking at a property and must watch the Virtual Showing video prior to entering a property. I can also FaceTime or Zoom any of my clients through properties listed on the MLS if you are not able to come to South Lake Tahoe at this time. 

You can access all of my Virtual Showings by visiting my YouTube Channel- Brent Johnson’s YouTube Channel

Please be sure to “Subscribe” to not miss out on future showings!

Stay home, stay safe, and be well!