April South Lake Tahoe Real Estate Statistics

As usual, when the weather warms up in South Lake Tahoe, the real estate market follows. Home sales continued their upward trend and rose from 40 houses sold in March, to 46 houses sold in April. This is a huge jump from April 2009 when only 26 houses closed escrow. The continuing improvements in the economy, low interest rates, low prices, and the first time home buyer tax credits stimulated the increase in sales. There are currently 438 listings on the South Lake Tahoe MLS, and 108 of them are in escrow.

 Distress sales dropped from 58% of the sales in March to 48% in April. There were 18 bank owned foreclosures and 4 short sales that sold in April. Currently there are 30 bank owned foreclosures listed on the South Lake Tahoe MLS, and 15 are in escrow. There are 79 short sale listings, and 50 of the short sales are in escrow.

April South Lake Tahoe Real Estate Statistics

• There were 46 single family home sales in April, up from 40 in March, and up from 26 in April 2009.
• The average price of the homes sold in South Lake Tahoe was $386,177, down from $404,053 in March, and up from $327,342 in April 2009.
• The median sales price was $329,163, down from $350,500 in March, and up from $295,000 in April 2009.
• The average price per square foot was $211 which was down from $221 in March, and up from $204 in April 2009.
• The average days on the market was 158 which was up from 141 in March, and down from 190 in April 2009.
• The median days on the market was 112 which was up from 111 in March, and up from 108 in April.
• There were 18 bank owned foreclosures that sold in April, up from 16 in March, and up from 7 in April 2009.
• There were 4 short sales that sold in April which was down from 7 in March, and up from the 2 that sold in April 2009.

Spring and Summer is also the time that the Tahoe Keys Real Estate typically begins to pick up. In April there were 5 houses that sold in the Tahoe Keys area. One of the houses sold was a foreclosure and one was a short sale. There are currently 66 listings in the Tahoe Keys on the South Lake Tahoe MLS and only 9 are in escrow. The least expensive single family home listing on the water is my listing at 2213 Texas. This is a 3 bedroom, 2 bath, 2 car garage house that has been completely remodeled and has great views.

For more information about the South Lake Tahoe real estate market, please call California and Nevada real estate agent Brent Johnson today!!!