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Lake Tahoe Real Estate Market Booms in September!

South Lake Tahoe home buyers continued to snatch up properties at bargain prices and with historically low interest rates this fall. According to the South Lake Tahoe MLS there were 82 single family homes and condo/townhomes that were sold in September. The number of homes sold in South Tahoe last month was up from 76 sales in August and up from 70 sales in July. Also up in September was the median sales price and the average sales price of the properties that were sold.

The continuing buyer activity and lack of distress sales coming on the market is now causing a shortage of inventory here in Tahoe. There are currently only 351 single family and condo/townhome listings on the South Lake Tahoe MLS. There are 124 properties that are currently in escrow and only 227 active listings. The distress sale inventory is even lower. There are only 14 bank owned properties currently listed and 7 of them are in escrow. There are still 48 short sale listings on the mls but 36 of the short sales are in escrow and only 12 are still available.

South Lake Tahoe MLS Statistics for September

There were 82 single family homes and condo/townhomes sold in September, up from 76 sales in August.
The median sales price for the properties that were sold was $255,000, up from $235,000 in August.
The average sales price was $298,807. up from $294,090 in August.
The average price per square foot was $183, down from $188 in August.
The average days on the market was 128 and the median days on the market was 93.

South Lake Tahoe Foreclosure Statistics

There are currently only 14 bank owned foreclosures listed on the South Lake Tahoe MLS. 7 of the foreclosure listings are in escrow and 7 are still active. Last month there were 15 total foreclosure listings.
There were 8 bank owned foreclosure listings that were sold in September, down from 19 foreclosure sales in August.
The average foreclosure sale price was $284,063, up from $214,576 in August.
The median foreclosure sale price was $184,000, up from $175,000 in August.
The average sales price per square foot was $149, up from $143 in August.
The average days on the market was 97 and the median days on the market was 69.

Short Sales in South Lake Tahoe

There are currently 48 short sales listed on the South Lake Tahoe MLS. 36 of the short sale listings are in escrow and only 12 are active. There were 56 short sales on the market in August.
There were 18 short sales that closed escrow in September, up from only 6 sales in August.
The median sales price of the short sales was $272,500, up from $220,000 in August.
The average sales price of the short sales was $266,709, up from $211,667 in August.
The average price per square foot was $166,
The average days on the market was 192 and the median days on the market was 136.

If the number of distress sales continues to decrease and the inventory of homes for sale in South Lake Tahoe remains low, the housing market should also continue to stabilize and prices may increase as well. For more information about the South Lake Tahoe real estate market please call Brent Johnson at (530) 416-2625!

Al Tahoe Cabin on a Double Lot!

3140 Nevada Ave Offered at $248,888

Click here to see the Virtual Tour!!!

Charming knotty pine cabin located on a wooded 10,000 square foot double lot only 2 blocks from Regan Beach. This cabin has double pane vinyl frame windows, forced air heating, corrian counter tops, gas range, and a fully fenced yard. There are 3 bedrooms, 2 bathrooms, and a single car garage. This property would make a great vacation rental and a great Tahoe escape. The Lakeview Commons at El Dorado Beach is within walking distance and offers public boat launching, stand up paddleboard rentals, Wednesday night SUP races, Thursday night summer concerts, and much more. If you are looking for a cabin in Al Tahoe only steps from the lake, this could be the one that you have been waiting for!

Located on a 10,000 square foot double lot.
Double Pane Windows
Two Blocks from Lake Tahoe
3 bedrooms, 2 bathrooms, and a 1 car garage
Solid Surface Counter Tops
Forced Air Heating
Fully Fenced Yard
Did I Say Steps From The Lake!!!

For more information about this property or questions about South Lake Tahoe Real Estate please call South Lake Tahoe real estate agent Brent Johnson at (530) 416-2625!

August South Tahoe Real Estate Update

August ended up being another great month for sales of single family homes and condos in South Lake Tahoe. There were 76 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. Although buyer traffic was heavy and the inventory of available homes was low, the median price and average price per square foot remained steady.

August Single Family and Condo Statistics

There were 76 single family homes and condos sold in August, up from 70 in July.
The average price per square foot was $188, down from $193 in July.
The median sales price was $235,000, down from $236,500 in July.
The average sales price was $294,090, down from $337,956 in July.
The average days on the market was 147 and the median days on the market was 85

The inventory of homes for sale in South Lake Tahoe remained low. There are currently 388 total single family home and condo listings on the MLS and 143 of them are in escrow. With 37% of the inventory in escrow, many buyers are getting involved in multiple offer situations, especially on properties priced under $300,000. One of the reasons that our inventory is so low is that we are not seeing many distress sales coming on the market. Currently there are only 6 active foreclosures and 14 active short sales listed on the South Lake Tahoe MLS.

Foreclosures in South Lake Tahoe

There are currently 15 foreclosure listings on the MLS, 6 of the foreclosures are active and 9 of the foreclosures are in escrow.
There were 19 bank owned foreclosures that were sold on the MLS in August, up from 11 foreclosure sales in July.
The median sales price of the foreclosures was $175,000, down from $220,000 in July.
The average sales price was $214,576, down from 228,023 in July.
The average price per square foot was $143, up from $138 in July.
The median days om the market was 84.

Short sales in South Lake Tahoe

There are currently 56 total short sales on the South Lake Tahoe MLS
43 of the short sales are in escrow and only 14 are still active.
There were 6 short sales that closed escrow in August, down from 13 in July.
The median sales price of the short sales was $220,000, up from $165,000.
The average sales price of the short sales was $211,667, up from $177,596 in July.
The average days on the market was 218 and the median days on the market was 216.

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

My Recent Property Sales in South Lake Tahoe!

I wanted to take some time to thank all of my clients that have recently purchased a property in South Lake Tahoe with me. It has been a busy year and I have been able to make some great friends along the way. Over the last year and a half I have sold 59 properties in South Lake Tahoe. Bank owned foreclosures have accounted for 19 of my sales and 10 of the properties were short sales. Selling this many properties in this amount of time has added to my knowledge of the area and how to handle distress sales. I have now been a top producing real estate agent for 8 years, and I am looking forward to many many more years of selling properties here in South Lake Tahoe.

Here is a list of my recent property sales here in South Lake Tahoe:

2091 12th Street sold for $265,000 in Tahoe Island Drive. I represented both sides in this transaction.
761 Modesto Ave. sold for $176,500 in Al Tahoe (short sale)
3047 Sacramento Ave. sold for $195,000 in Al Tahoe (foreclosure)
844 Merced Ave. sold for $395,000 in Al Tahoe (foreclosure)
3804 Alder Ave. sold for $108,800 in Stateline (foreclosure)
3610 Forest Ave. sold for $128,000 in Bijou (foreclosure)
1606 Glenwood Way sold for $285,000 in Bijou (short sale)
3689 Spruce Ave. sold for $285,000 in Bijou (short sale)
1623 Andy Jo Circle sold for $298,000 in Bijou (foreclosure)
1103 Long Valley sold for $125,000 in Bijou Pines
2231 Cornelian Drive sold for $248,000 in Meyers (foreclosure)
3445 E. River Park Drive sold for $460,000 in Christmas Valley
748 Roger Ave. sold for $197,000 in Gardner Mountain
729 Sand Harbor sold for $424,000 in Gardner Mountain (foreclosure)
1410 Ski Run Blvd. unit #23 sold for $158,000 in Heavenly Valley (foreclosure)
1439 Ski Run Blvd. unit #C4 sold for $189,900 in Heavenly Valley (foreclosure)
916 Sagewood Drive sold for $439,000 in Highland Woods (new construction)
1050 Crow Street sold for $157,500 in Meyers
1061 Golden Bear Trail sold for $335,000 in Montgomery Estates (short sale)
1843 High Meadow Trail sold for $439,999 in Montgomery Estates
3070 Jacarillo Trail sold for $450,000 in Montgomery Estates
1744 Delaware Street sold for $190,000 in the North Upper Truckee area
638 Grizzly Mountain sold for $201,000 in the North Upper Truckee area
560 Kiowa Drive sold for $239,000 in the North Upper Truckee area
1980 Tooch Street sold for $201,900 in the Pioneer Trail area (foreclosure)
1531 Pioneer Trail sold for $342,000 in the Pioneer Trail area (short sale)
1427 Bozeman Drive sold for $167,000 in Pioneer Village (short sale)
2530 Elwood Ave. sold for $65,500 in the Sierra Tract (duplex foreclosure)
1165 Martin Ave. sold for $105,000 in the Sierra Tract
2515 Armstrong Ave. sold for $140,500 in the Sierra Tract (foreclosure)
1087 Marjorie Street sold for $172,500 in the Sierra Tract (foreclosure)
875 Patricia Street sold for $237,000 in Tahoe Island Drive
561 Eloise Ave. sold for $335,000 in Tahoe Island Drive (short sale)
2360 Washington Ave. sold for $235,100 in Tahoe Island Park (foreclosure)
2319 Montana Ave. sold for $239,000 in Tahoe Island Park
2276 Colorado Ave. sold for $250,000 in Tahoe Island Park
1853 Venice Drive sold for $420,000 in the Tahoe Keys
2166 Inverness Drive sold for $580,000 in the Tahoe Keys
2182 Monterey Drive sold for $740,000 in the Tahoe Keys
1086 Cheyenne Drive sold for $145,000 in Meyers (foreclosure)
1603 Cree Street sold for $165,000 in Tahoe Paradise (foreclosure)
1572 Oglala Street sold for $172,000 in Tahoe Paradise
1646 Canienaga Street sold for $266,000 in Tahoe Paradise
1596 Sitka Street sold for $297,500 in Tahoe Paradise
1816 Hekpa Drive sold for $350,500 in Tahoe Paradise (foreclosure)
1900 Delta Street sold for $110,100 in the Y Area (foreclosure)
1194 Margaret Ave. sold for $157,000 in the Y Area (short sale)
1897 Delta Street sold for $158,000 in the Y Area
1141 Margaret Ave. sold for $235,000 in the Y Area
802 San Francisco Ave. sold for $195,000 in Al Tahoe (duplex)
3688 Paradise Ave. sold for $300,000 in Bijou (short sale duplex)
734 Alameda Ave. sold for $80,000 in Al Tahoe (vacant lot)
17 Panorama sold for $78,000 in Christmas Valley (vacant lot)
1469 Bonita Road sold for $99,000 in the Heavenly Valley area (vacant lot)
2903 Lakewood Circle sold for $54,000 in Highland Woods (vacant lot)
1830 grizzly Mountain Drive sold for $92,000 in the North Upper Truckee area (vacant lot)
2028 13th Street sold for $49,000 in Tahoe Island Drive (vacant lot)
746 Eloise Ave. sold for $50,000 in Tahoe Island Drive (vacant lot)
3690 Primrose Road sold for $655,000 in Stateline (7 unit apartment building)

Pending Sales

783 Jeffery Street in Tahoe Island Park, List price $339,000 (listing side)
806 Jeffer Street in Tahoe Island Park, List price $299,000 (listing side)
1953 Cheroke Street in Meyers, List price $199,000 (listing side)
3378 South Upper Truckee in Christmas Valley, List price $219,000 (sales side)
2026 Marconi in the Tahoe Keys, list price $464,997 (sales side)
967 Silverwood in Highland Woods, list price $285,000 (sales side)

If you are interested in using my experiance and local knowledge to assist you

Townhouse in the Tahoe Keys Priced to Sell!

Tahoe Keys Townhouse Priced to Sell!

2031 Venice Drive #316

This 3 bedroom, 3 bathroom, 1,440 square foot waterfront townhome is priced to sell. Located in a quiet and private section of Islander 3, this townhome has the largest deck in the complex overlooking the water. The bottom floor of this unit has gorgeous historical pine hardwood flooring that was reclaimed from a river bed in Alabama. A new gas stove, plantation shutters, and newer appliances will make this townhome a pleasure to visit. The deep water dock has easy access and will accommodate a large boat. Enjoy use of the great Tahoe Keys ammenities such as the olympic size indoor swimming pool, outdoor pool, spas, tennis courts, vollyball, basketball, security, and more. This waterfront townhome is being sold mostly furnished and is a must see!

Waterfront Townhome
Deep Water Boat Dock
Forced Air Heating
Hardwood Flooring
Open Beam Ceilings
Priced to Sell!

Click Here to see the Virtual Tour!

July South Lake Tahoe Real Estate Review

With another 70 single family homes and condos that were sold on the South Lake Tahoe MLS in July, the Tahoe Real Estate market continues to move at a quick pace. There were 7 less property sales in July than there were last month, but there were 22 more sales than there were in July 2011. The inventory of properties for sale on the MLS remains similar to what it was last month with 269 active listings and 145 active pending listings. Currently 35% of the single family homes and condos listed on the mls are in escrow.

The inventory of bank owned foreclosures in South Lake Tahoe is very low compared to what it has been over the last several years. There are26 foreclosure listings on the mls, 18 of the foreclosures are in escrow and only 8 of the foreclosures are still available. There are a total of 61 short sale listings, 49 of the short sale listings are in escrow and only 12 are still available.

July South Lake Tahoe MLS Statistics

There were 70 single family homes and condos that were sold on the South Lake Tahoe MLS in July, down from 77 sales in June, and up from 48 sales in July 2011.
The Median sales price was $236,500, up from $225,000 in June, and down from $237,500 in July 2011. (The median sales price for only single family homes was $291,000 in July 2011)
The average sales price was $337,596, up from $279,311 in June, and up from $293,785 in July 2012.
The average price per square foot was $193, up from $177 in June.
The average days on the market was 140 and the median days on the market was 82.

South Lake Tahoe Foreclosures

There were 11 foreclosures in South Lake Tahoe that were sold in July, down from 18 in June.
The average sales price of the foreclosure sales was $228,023, up from $200,036 in June.
The median sales price of the foreclosure sales was $220,000, up from $174,000 in June.
The average price per square foot was $138, down from $140 in June.
Tha average days on the market was 177.

South Lake Tahoe Short Sales

There were 13 short sales that were sold on the South Lake Tahoe MLS in July, down from 16 in June.
The average sales price was $177,596, down from $279,188 in June.
The median sales price was $165,000, down from $230,500 in June.
The average price per square foot was $125, down from $168.
The average days on the market was $239 and the median days on the market was 213.

The Tahoe Keys area had a great month of sales with 12 single family homes sold on the MLS. The average sales price of the Tahoe Keys sales was $784,600. The median sales price in the Keys was $686,500 and the average price per square foot was $325. The Tahoe Keys Homes that were sold, sold quickly. The average days on the market was 94 and the median days on the market was only 60. None of the Tahoe Keys homes that were sold in July were foreclosures or short sales.

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