bjohnson

South Lake Tahoe Real Estate Update

The South Lake Tahoe Real Estate market has been off to an amazing start in 2016. I believe that a combination of low interest rates, improving economy, and great Sierra Nevada ski season has given buyers the confidence to invest in South Lake Tahoe Real Estate.

So far this year the South Lake Tahoe Real Estate market has seen an increase in the median sales price, number of properties sold year to date, and a significant increase in pending sales.

As of May 1st the median sales price for single family homes within the city and county areas in South Lake Tahoe was $379,500, up 7% from $355,000 in May, 2015. In my opinion the most interesting statistic is the number of pending sales. There is currently 110 single family and condo/townhouses in escrow. Last year during this same time there were only 69 pending sales. The number of properties sold has also increased significantly. So far in 2016 there has been 198 single family and condo/townhouses that have sold, up from 157 in 2015 during the same 4 month period.

The current inventory of homes for sale on the South Lake Tahoe MLS is low and there is not much for buyers to choose from. There are currently 175 active single family homes and condo/townhouses for sale. Last year there were 275 properties to choose from. I do anticipate the number of available listings to increase as it usually does in the early summer months. We usually experience about a 20% to a 30% increase of inventory as the selling season approaches.

The majority of the buyer activity is happening under $500,000 as seen below in the breakdown of the 110 properties that are currently in escrow:

Price Range Number of Escrows

Under $200,000 8 properties

$201-$300,000 10 properties

$301-$400,000 31 properties

$401-$500,000 20 properties

$501-$600,000 10 properties

$601-$700,000 15 properties

$701-$800,000 6 properties

$801-$999,000 3 properties

Over $1,000,000 7 properties

So far this year distress sales have been few and far between and have not been a major impact on the South Lake Tahoe Real Estate Market. There is currently only 1 active short sale listing and 4 active bank owned foreclosure listings accounting for 2.9% of the total inventory for sale. There have been 5 bank owned foreclosure sales accounting for 2.5% of the closings and 4 short sales that account for 2% of the closings.

The Tahoe Keys Real Estate market is also off to a great start to 2016. There are currently 12 single family homes and townhouses that are under contract and 16 that have closed escrow so far this year. I believe that Keys buyers have been encouraged by the normal winter which is brought our lake level back up above the natural rim!

Tahoe Keys Real Estate

For more information about the South Lake Tahoe Real Estate market please call Brent Johnson at (530) 416-2625 today!

South Lake Tahoe Real Estate Update as of 5/26

The following South Lake Tahoe Real Estate market update are for residential (single family and condo/townhouse) properties located in the City and County areas.

There are currently 386 total single family and condo/townhouse listings on the South Lake Tahoe MLS. This number is up from 300 year to date. Currently 301 of the listings are active and 85 are in escrow. In May, 2014 there were 228 active listings and 72 properties in escrow. As you can see, the inventory is currently higher and there are 13 more properties in escrow.

Distress sales only account for 2.3% of the current active inventory and 10.6% of the properties currently in escrow. There are 4 active short sale listings and 3 active bank owned foreclosure listings on the South Lake Tahoe MLS. There are 6 short sale listings and 3 bank owned foreclosures that are currently under contract.

The most active price range in South Lake Tahoe continues to be under $400,000. Almost half of the current pending properties are under $400,000. Below is a breakdown by price of the 85 escrows:

Price Number of Properties

Under $200,000 6

$201k-$300,000 16

$301k-$400,000 20

$401k-$500,000 14

$501k-$600,000 13

$601k-$700,000 6

$701k-$800,000 4

$801k-$999,000 2

Over 1 Million 4

So far this year there have been 193 total closings reported on the South Lake Tahoe MLS. Last year during the same period there were 194 sales reported. There have only been 8 bank owned foreclosures that have sold and 4 short sales that have sold this year accounting for 8% of the sales.

The average price per square foot for all single family homes sold in South Lake Tahoe has been $258 per square foot. The Median sales price is $355,000 which is up 7.3% from $330,750 in April 2014. The average days on the market for the single family homes was 121 days.

Properties continue to sell close to the asking price when selling within the first few months of being listed.

Properties that sold within the first 30 days of being listed sold for an average of 98.78% of the listing price.

Properties that sold between 31 and 60 days of being listed sold for an average of 97.91% of the listing price.

Properties that sold after 120 days of being listed sold for an average of 95.9% of the listing price.

If you would like more information about the South Lake Tahoe Real Estate market or details on the current South Lake Tahoe Real Estate statistics please call Brent Johnson at (530) 416-2625 today!

South Lake Tahoe Real Estate Update as of February 10, 2015

The South Lake Tahoe Real Estate market continues to show growth in the Median sales price despite one of the worst snow fall years in Tahoe history. I was born and raised here on the South Shore and I can not remember not being able to find snow on the ground at lake level.

There are a couple of main factors that are contributing to the active real estate market. Low interest rates and a low inventory of houses listed for sale on the South Lake Tahoe MLS has kept the real estate market moving all winter long. The median sales price for single family houses sold is now $350,000 which is up 5.6% from $331,500 year to date. The graph below shows the increase in the median sales price over the last 3 years. The market bottomed out around mid 2012 and has shown an upward trend since that time.

In January there were 45 single family homes that were reported as sold on the South Lake Tahoe MLS. Out of the 45 single home sales, 3 were bank owned foreclosures and there were none were short sales.

The current inventory of homes for Sale in South Lake Tahoe remains low. There are now only 150 active single family listings, 2 of the listings are short sales and 5 are foreclosures. There are currently 63 properties currently in escrow accounting for 25.5% of the total inventory of available homes. Distress sales make up 12.7% of the properties that are in escrow (6 short sales and 2 bank owned foreclosures).

Breakdown by price range of the 63 escrows

Price range Number of homes

Under $200,000 8
$201- $300,000 15
$301- $400,000 15
$401- $500,000 5
$501-$600,000 4
$601- $700,000 7
$701- $800,000 6
$801- $999,000 1
Over 1 Million 2

For more information about the South Lake Tahoe Real Estate market please contact Brent Johnson at (530) 416-2625 or email him at Bjohnson@chaseinternational.com today!

Newer Home for Sale in South Lake Tahoe

836 Merced Ave.

Offered at $649,000!

Property for Sale in South Lake Tahoe

Virtual Tour

Al Tahoe is one of the most desirable locations for South Lake Tahoe Real Estate. This well maintained newer home is located two short blocks from the beautiful shores of Lake Tahoe. There is a third story roof top deck with a hot tub and filtered lake views. Al Tahoe is close to shopping, Heavenly Ski Resort, Stateline, and just steps from the El Dorado Commons and boat ramp. The gourmet kitchen boasts granite slab counters, a Jenn Air double oven, Bosch dishwasher, and custom hickory cabinetry. The spacious great room has rich hickory hardwood flooring, pine ceilings, and a gas fireplace with a stunning rock surround. The master bedroom has his and her closets, a large master bathroom with custom travertine tile, dual sinks, jetted tub, dual shower heads, and a skylight. Other custom features include heated flooring in the kitchen, guest bath, and master bathroom, an on demand water heater, Carriage House garage door, copper roof flashing and much more! Your home will be protected with a high tech alarm with home automation, remote heat control, and security cameras! This property is perfect for buyers looking to invest in the South Lake Tahoe Real Estate market and to supplement their expenses with vacation rental income. Al Tahoe is well known as a desirable location for vacation rental properties due to the central location and proximity to the lake. If you have any questions about this outstanding opportunity please call your South Lake Tahoe Real Estate expert, Brent Johnson at (530) 416-2625 today!

Hickory Hardwood Flooring
Pine Ceilings
Anderson Doors
On Demand Water Heater
Custom Natural Stone Tile Throughout
Filtered Lake Views
Bear Proof Trash Container

Sky Meadows Cabin

2328 Sky Meadows Court

Offered at $259,000!

Click here for the virtual tour of this

property for sale in South Lake Tahoe!

If you are looking for Real Estate in South Lake Tahoe, this chalet is a must see! This well maintained cabin is perfect for those looking for an affordable and low maintenance property in South Lake Tahoe. Selling fully furnished this Sky Meadows cabin is ready to use as you weekend retreat or even as a vacation rental. Some of the great features include open beam ceilings, a newer freestanding gas fireplace, newer window coverings, and an open living area. There is no need to go up and down stairs with the kitchen, living area, and one bedroom located on the first level. Sky Meadows is centrally located close to the beaches, shopping, and just minutes from Heavenly Ski Resort in a level and sunny area.
If you would like to set up an appointment to see this cabin or any other properties for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625.

Open Beam Ceilings
Forced Air Heating
Double Pane Windows
Newer Gas Fireplace
Sold Fully Furnished
Much More!!!

Cabin in the Woods!

775 Kiowa Drive

Offered at $269,000

Virtual Tour

click here!

This well maintained cabin offers the ultimate Tahoe setting with Forest Service and Conservancy land on 3 sides. The inviting and open floor plan and an oversized private back deck make this cabin great for entertaining and enjoying all four seasons at the lake. Recent upgrades include a new comp roof, a large storage shed, and a bear proof trash container. Located just steps from miles of hiking, biking, and cross country ski trails this is a perfect place for the outdoor enthusiast. This cabin is currently used as a second home/vacation rental and is sold fully furnished. This may be the setting you have been waiting for! For more information about this great property for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625 today!