October South Lake Tahoe Real Estate Statistics

Buyer activity remained strong in October with 61 single family properties reported as sold on the South Lake Tahoe MLS. There were 62 single family properties that were sold in September, only one more than October. Of the 61 single family properties that were sold, 54 were detached single family homes and 7 were condos.

Distress sales accounted for 20 of the properties in South Lake Tahoe that were sold in October. There were 14 bank owned foreclosures and 6 short sales that were sold last month. This is down from 27 distress sales in September when 17 foreclosures and 10 short sales were sold.

There were two lakefront sales, one for $3,700,000 and one for $4,200,000 that really skewed the average price per square foot and average sales price. Using the lakefront sales the average price per square foot was $227, without the lakefront sales the average price per square foot was $188. For the following statistics I have excluded the lakefront sales.

October South Tahoe Real Estate Statistics

• There were 61 single family homes in South Lake Tahoe that were sold in October, down from 62 in September.
• The average price per square foot of the home sold was $188, up from $183 in September.
• The average sales price was $293,666, down from $306,721 in September. The average sales price was $415,938 including the two lakefront sales.
• The median sales price was $229,000, down from $233,250.
• There were 14 foreclosures in South Lake Tahoe that were sold on the South Lake Tahoe mls, down from 17 in September.
• There were 6 short sales in South Lake Tahoe that were sold, down from 10 in September.
• The average days on the market was 155 and the median days on the market was 114.

October Statistics for Foreclosures in South Lake Tahoe

• There were 14 bank owned foreclosures that were sold on the South Lake Tahoe MLS in October, down from 17 in September.
• The average price per square foot was $162, up from $145 in September.
• The average sales price was $243,457, down from $$258,292 in September.
• The median sales price was $178,750, down from $213,357 in September,
• The average days on the market was 84 and the median days on the market was 83.

October Statistics for Short Sales in South Lake Tahoe

• There were 6 short sales in South Lake Tahoe that were reported as sold on the South Lake Tahoe MLS, down from 10 in September.
• The average price per square foot was $154, down from 193 in September.
• The average sales price for the short sales was $276,833, down from $331,252 in September.
• The median sales price for the short sales was $$272,500, up from $215,000 in September.
• The average days on the market was 223 and the median days on the market was 204.

With current mortgage interest rates at all time lows and 110 properties currently in escrow on the South Lake Tahoe MLS we should another great month of closings in November!