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August 2021 Real Estate Review

Low housing inventory continues to be the norm for the Lake Tahoe regional real estate market. The South Lake Tahoe Real Estate market experienced a decrease in the total number of home listings compared August 2020. This

includes the Active Listings and those that are currently in Escrow. Out of the 230 Active Listings, there are no short sale listings and there is only 1 REO (bank owned property). Out of the 113 properties that are in Escrow, none are Short Sales and one is an REO. In August of 2020, there were 305 Total Listings, 92 Active Listings, and 213 Escrows.

The median sales price for a Single-Family Homes in South Lake Tahoe is currently $655,000 which is a 34.9% increase from what it was 12 months ago ($485,000 in July, 2020).

Here is a breakdown of the current 113 residential escrows by price range:

Under $200,000- 0 0%
$201,000 to $300,000- 0 0%
$301,000 to $400,000- 3 2.7%
$401,000 to $500,000- 14
$501,000 to $600,000- 24
$601,000 to $700,000- 15
$701,000 to $800,000- 19
$801,000 to $999,000- 13
Over $1 Million- 25

From January 1, 2021 to August 9th, 2021 there have been a total of 508 closings which is up slightly from the number of closings during the same time in 2020 when there were 425 closings.

Even though we have had more closings so far this year, I expect there to be less home sales in the second half of 2021 compared to 2020 judging by the lower number of pending sales and lack of active listings. The Caldor fire has also caused Highway 50 to close and has created unhealthy air quality in the basin which is creating a temporary slowdown of new listings and pending sales.

I currently have 7 active listings and 9 pending listings that are currently on the South Lake Tahoe MLS. My active listings are still getting plenty of activity despite the effects of the Caldor fire.

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 and Open Houses!

Brent Johnson’s Instagram Page

Brent Johnson’s Facebook Page

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.

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

Brent Johnson’s Instagram Page

Brent Johnson’s Facebook Page

Just Sold! Vacant Lot on 1810 Elks Club Drive, South Lake Tahoe, CA 96150

Just Sold! Just in time to get started in the Spring of 2020. South Lake Tahoe’s building season!

1810 Elks Club Drive, South Lake Tahoe, CA 96150 in El Dorado County is an excellent opportunity! This large 14,705 square foot wooded county lot has 26% coverage and an IPES score of 924. With easy access to both Pioneer Trail and Highway 50, this superb home site is just minutes from Heavenly Ski Resort and the lake. Do not miss out on this affordable county lot!

South Lake Tahoe Real Estate Update

The South Lake Tahoe Real Estate market has been off to an amazing start in 2016. I believe that a combination of low interest rates, improving economy, and great Sierra Nevada ski season has given buyers the confidence to invest in South Lake Tahoe Real Estate.

So far this year the South Lake Tahoe Real Estate market has seen an increase in the median sales price, number of properties sold year to date, and a significant increase in pending sales.

As of May 1st the median sales price for single family homes within the city and county areas in South Lake Tahoe was $379,500, up 7% from $355,000 in May, 2015. In my opinion the most interesting statistic is the number of pending sales. There is currently 110 single family and condo/townhouses in escrow. Last year during this same time there were only 69 pending sales. The number of properties sold has also increased significantly. So far in 2016 there has been 198 single family and condo/townhouses that have sold, up from 157 in 2015 during the same 4 month period.

The current inventory of homes for sale on the South Lake Tahoe MLS is low and there is not much for buyers to choose from. There are currently 175 active single family homes and condo/townhouses for sale. Last year there were 275 properties to choose from. I do anticipate the number of available listings to increase as it usually does in the early summer months. We usually experience about a 20% to a 30% increase of inventory as the selling season approaches.

The majority of the buyer activity is happening under $500,000 as seen below in the breakdown of the 110 properties that are currently in escrow:

Price Range Number of Escrows

Under $200,000 8 properties

$201-$300,000 10 properties

$301-$400,000 31 properties

$401-$500,000 20 properties

$501-$600,000 10 properties

$601-$700,000 15 properties

$701-$800,000 6 properties

$801-$999,000 3 properties

Over $1,000,000 7 properties

So far this year distress sales have been few and far between and have not been a major impact on the South Lake Tahoe Real Estate Market. There is currently only 1 active short sale listing and 4 active bank owned foreclosure listings accounting for 2.9% of the total inventory for sale. There have been 5 bank owned foreclosure sales accounting for 2.5% of the closings and 4 short sales that account for 2% of the closings.

The Tahoe Keys Real Estate market is also off to a great start to 2016. There are currently 12 single family homes and townhouses that are under contract and 16 that have closed escrow so far this year. I believe that Keys buyers have been encouraged by the normal winter which is brought our lake level back up above the natural rim!

Tahoe Keys Real Estate

For more information about the South Lake Tahoe Real Estate market please call Brent Johnson at (530) 416-2625 today!

Newer Home Near Heavenly!

1351 Susie Lake Road

Offered at $559,000!!!

South Lake Tahoe Real Estate Virtual Tour!

If you are looking for Real Estate in South Lake Tahoe you should consider this spacious newer home located just minutes from Heavenly Valley, the Casinos, and the Lake. This custom home is 2,817 square feet and has 4 bedrooms, 3 full bathrooms, and a two car garage. Designed for entertaining in mind, the open floor plan, large bedrooms, and flat lot are perfect for large or multiple families. The sunny and fully landscaped 11,543 square foot lot offers plenty of outdoor living space as well as ample parking. Currently a successful vacation rental, this property sells mostly furnished per inventory list including a hot tub and a pool table. Priced at only $198 per square foot this is one of the best newer construction values currently in the South Lake Tahoe Real Estate market!

Stainless Steel Appliances
4 Bedrooms and 3 Full Bathrooms
Huge Sunny Lot
Tons of Parking
Sold Furnished
Newer Construction!

If you would like more information about this home for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625 or email at bjohnson@chaseinternational.com. The South Lake Tahoe Real Estate market has rebounded and it is a great time to invest in beautiful Lake Tahoe!!!

March South Lake Tahoe Real Estate Statistics

March ended up being a big month for single family home sales in South Lake Tahoe despite the low inventory for buyers to choose from. In addition to 51 closed escrows in the city and county areas of South Lake Tahoe the median sales price, average sales price, and price per square foot were up from the previous month. Distress sales were down and only accounted for 12% of the homes that were sold in March.

March South Lake Tahoe Real Estate Statistics

There were 51 single family homes/condos that were sold in March, up from 38 sales in February.
The median sales price was $360,000, up from $277,600 in February.
The average sales price was $389,702, up from $334,531 in February.
The average price per square foot was $233, up from $198 in February.
The median days on the market was 87.

Foreclosures in South Lake Tahoe

There were only 3 foreclosures in South Lake Tahoe that were sold in March, down from 10 that were sold in February.
The average sales price of the foreclosures was $295,333, down from $310,740 in February.
The median sales price of the foreclosures was $309,000, down from $277,600 in February.
The average price per square foot was $180, up from $178 in February.
The average days on the market was 74 and the median days on the market was 79 days.

Short Sales in South Lake Tahoe

There were 3 short sales that closed escrow in March, down from 6 short sales in February.
The average sales price of the short sales was $182,167, down from $296,780 in February.
The median sales price of the short sales was $142,000, down from $323,900 in February.
The average price per square foot was $214, up from $176 in February.
The average days on the market was 276 and the median days on the market was 211 for the short sales.

I will be posting the April South Lake Tahoe real estate statistics shortly as well. Please let me know if you have any questions regarding this information.

Uncategorized

August 2021 Real Estate Review

April 2020 Real Estate Review

Just Sold! Vacant Lot on 1810 Elks Club Drive, South Lake Tahoe, CA 96150

South Lake Tahoe Real Estate Update

Newer Home Near Heavenly!

1351 Susie Lake Road

Offered at $559,000!!!

South Lake Tahoe Real Estate Virtual Tour!

March South Lake Tahoe Real Estate Statistics

March South Lake Tahoe Real Estate Statistics

Foreclosures in South Lake Tahoe

Short Sales in South Lake Tahoe

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