The South Lake Tahoe MLS posted the largest increase of the median sales price of single family homes of the year. The median price rose from $234,000 in August of 2012 to $309,000 in August of 2013 which was a 32.1% increase. There were 86 single family homes and condos that were reported as sold in the city and county areas of the South Tahoe MLS which was also the highest number of sales for the year.
August South Tahoe Real Estate Statistics
- There were 86 single family homes and condos sold on the South Lake Tahoe MLS in August, up from 76 sales in July.
- The median sales price was $309,000, up from $292,000 in July and up from $234,000 in August 2012.
- The average sales price was $388,067, up from $352,402 in July and up from $294,090 in August 2012.
- The average price per square foot was $239, up from $218 in July and up from $188 in August 2012.
- The average days on the market was 115 days and the median days on the market is 70 days.
Distress sales were again down for the month with only 3 bank owned foreclosure sales and 4 short sales closing escrow. In August 2012 there were 19 bank owned foreclosures and 6 short sales that were sold.
The inventory of single family homes and condos on the South Lake Tahoe MLS only decreased slightly over the last 30 days. There are now 363 listings on the mls, 263 of the properties are active and 100 are in escrow. There are 18 short sale listings, 16 are in ecrow and only 2 are active. There are only 11 bank owned listings, 4 of the foreclosures are in escrow and 7 are active.
For more information on the status of the South Lake Tahoe Real Estate market please give Brent Johnson a call at (530) 416-2625 today!