South Tahoe Real Estate Statistics for 2009 First Quarter

South Lake Tahoe real estate statistics are important for both buyers and sellers who are thinking about timing the market for their next real estate transaction. With all of the South Lake Tahoe real estate statistics available on various websites and blogs, consumers are now informed more than ever. I try to make my South Lake Tahoe real estate statistics the most in depth and easy to understand as possible. With that being said, here are the 2009 first quarter statistics for single family sold homes in South Lake Tahoe.

According to the South Lake Tahoe mls, there were 73 single family homes that sold between January 1st and March 31st 2009. That is 8% more homes than the first quarter of 2008 in which 67 single family homes closed escrow.

• 73 homes sold in the first quarter of 2009
• 27 of the sold homes were bank owned foreclosures (up 44% from 15 in the first quarter of 2008)
• 6 of the homes were short sales
• The median list price was $356,250 (15% less than than the first quarter of 2008 which was $419,900)
• The median sales price was $340,000 (15% less than the first quarter of 2008 which was $400,000)
• The median days on the market was 114 (down from 156 in the first quarter of 2008)
• The median square footage of the sold homes was 1,584 (up from 1,431 in the first quarter of 2008)
• The average sold price per square foot was $234 (19% less than the first quarter of 2008 which was $290)

The number of sold houses in South Lake Tahoe was up and the median sold price was down due to the distress sales and foreclosures. Foreclosure listings in South Lake Tahoe are usually priced about 10% below current market value. The attractively priced foreclosures are what buyers seeking good deals are going after. Many of the foreclosure homes received multiple offers and sold quickly which also brought down the median days on the market to 114 for the first quarter. Buyers targeting South Lake Tahoe foreclosures should be aware that it will be an “as is” deal, and buyer investigation inspections are very important.

Here is a comparison of the South Lake Tahoe foreclosure listings to the non-foreclosure listings that sold in the first quarter of 2009.

• 27 of the 73 houses that sold during the first quarter of 2009 were bank owned foreclosures.
• The median list price of the foreclosures was $279,000 (28% less than the non-foreclosure properties which was $389,000)
• The median sales price for the foreclosures was $264,500 (27% less than the non-foreclosure properties.
• The median days on the market was 84 (45% less than the non-foreclosure properties which was 154 days)
• The median square footage of the foreclosures was 1,510 square feet (7% less than the non-foreclosure properties which had an median square footage of 1,616 square feet.
• The average price per square foot for the foreclosures was $196 (24% less than the non-foreclosure properties which had an average sales price per square foot of $258)

2009 First Quarter South Lake Tahoe Real estate statistics by Number of Bedrooms

Sold two Bedroom Homes in South Lake Tahoe

• There were 15  two bedroom housesin South Lake Tahoe that sold in the first quarter of 2009 according to the South Lake Tahoe mls.
• The average list price for the 2 bedroom homes was $249,620
• The average sales price for the 2 bedroom homes was $233,853
• The average square feet of the 2 bedroom homes was 986
• The average percentage list price to sales price the homes sold for was 93.68%
• The average days on the market was 154 days

Sold three bedroom homes in South Lake Tahoe

• There were 32 three bedroom homes that sold in the first quarter of 2009
• The average list price for the 3 bedroom homes was $381,595
• The average sales price for the 3 bedroom homes was $361,750
• The average square feet of the 3 bedroom homes was 1565
• The average percentage list price to sales price that the homes sold for was 94.8%
• The average days on the market was 154

Sold four bedroom homes in South Lake Tahoe

• There were 21 two bedroom homes that sold in the first quarter of 2009
• The average list price for the 4 bedroom homes was $551,051
• The average sales price for the 4 bedroom homes was $525,000
• The average square feet of the 4 bedroom homes was 2346
• The average percentage list price to sales price that the homes sold for was 94.59%
• The average days on the market was 177

Sold five bedroom homes in South Lake Tahoe

• There were 5 five+ bedroom homes that sold in the first quarter of 2009
• The average list price for the 5+ bedroom homes was $941,850
• The average sales price for the 5+ bedroom homes was $798,000
• The average square feet of the 5+ bedroom homes was 3262
• The average percentage list price to sales price that the homes sold for was 84.75%
• The average days on the market was 179

This South Lake Tahoe real estate blog statistics post was written by real estate agent Brent Johnson. If you are a buyer or a seller of real estate in South Lake Tahoe and would like more information regarding any of the statistics in this post please let me know. For more information regarding foreclosures for sale in South Lake Tahoe, houses for sale in South Lake Tahoe, or would like to schedule an appointment to view any South Lake Tahoe real estate contact Brent and Jill Johnson today!