March South Lake Tahoe Real Estate Statistics

March ended up being a big month for single family home sales in South Lake Tahoe despite the low inventory for buyers to choose from. In addition to 51 closed escrows in the city and county areas of South Lake Tahoe the median sales price, average sales price, and price per square foot were up from the previous month. Distress sales were down and only accounted for 12% of the homes that were sold in March.

March South Lake Tahoe Real Estate Statistics

• There were 51 single family homes/condos that were sold in March, up from 38 sales in February.
• The median sales price was $360,000, up from $277,600 in February.
• The average sales price was $389,702, up from $334,531 in February.
• The average price per square foot was $233, up from $198 in February.
• The median days on the market was 87.

Foreclosures in South Lake Tahoe

•  There were only 3 foreclosures in South Lake Tahoe that were sold in March, down from 10 that were sold in February.
• The average sales price of the foreclosures was $295,333, down from $310,740 in February.
• The median sales price of the foreclosures was $309,000, down from $277,600 in February.
• The average price per square foot was $180, up from $178 in February.
• The average days on the market was 74 and the median days on the market was 79 days.

Short Sales in South Lake Tahoe

• There were 3 short sales that closed escrow in March, down from 6 short sales in February.
• The average sales price of the short sales was $182,167, down from $296,780 in February.
• The median sales price of the short sales was $142,000, down from $323,900 in February.
• The average price per square foot was $214, up from $176 in February.
• The average days on the market was 276 and the median days on the market was 211 for the short sales.

I will be posting the April South Lake Tahoe real estate statistics shortly as well. Please let me know if you have any questions regarding this information.