South Lake Tahoe Real Estate Market Update

Here are the latest statistics for the South Lake Tahoe real estate market as of February 11, 2010.

Currently there are 388 single family house listings on the South Lake Tahoe MLS. 300 of the homes are active and 88 are active pending. With 23% of our housing inventory in escrow, the market is continuing to be very active.

Short sales account for 20% of the single family home inventory in South Lake Tahoe. There are 77 short sales listed on the South Lake Tahoe MLS and 43 of them are currently in escrow. Many of the short sales that are currently in escrow have been in escrow for a long time. The median days on the market for the short sales that are in escrow is 170.

Foreclosures account for 12% of the single family home inventory on the South Lake Tahoe MLS. There are 46 foreclosures listed on the South Lake Tahoe MLS and 22 of them are in escrow.

With 43 short sales and 22 foreclosures in escrow, 65 of the houses in escrow are now distress sales. Having 74% of our current escrows being distress sales is not good news for regular sellers. For more information regarding South Lake Tahoe real estate statistics, please call Brent Johnson today!