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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!

September South Tahoe Real Estate Statistics

September was a big month for sold homes in South Lake Tahoe. There were 62 single family properties that had closed escrow in September, up from 44 sold properties in August. Of the 62 properties that were sold in September, 58 were detached single family homes and 4 were condos.

Distress sales accounted for 27 of the sold properties in September. There were 10 short sales and 17 bank owned foreclosures that were sold in September. The short sales had an average sales price per square foot of $193 and the foreclosures had an average price per square foot of $145. The non-distress sale properties had an average price per square foot of $198.

September South Tahoe Real Estate Statistics

  • There were 62 single family homes reported as sold on the South Lake Tahoe MLS in September, up from 44 in August.
  • The average price per square foot of the single family homes in South Lake Tahoe that were sold in September was $183, down from $192 in August.
  • The average sales price was $306,721, down from $343,558 in August.
  • The median sales price was $233,250, down from $295,000 in August.
  • There were 10 short sales in South Lake Tahoe that sold, up from 6 in August.
  • There were 17 bank owned foreclosures in South Lake Tahoe  that sold, up from 11 in August.
  • The average days on the market was 136 and the median days on the market was 99.

September Statistics for Foreclosures in South Lake Tahoe

  • The 17 foreclosures that sold in September had an average price per square foot of $145.
  • The average sales price of the foreclosures was $258,292.
  • The median sales price of the foreclosures was $213,357.
  • The average days on the market was 113 and the median days on the market was 87.

September Statistics for Short Sales in South Lake Tahoe

  • The 10 short sales that sold in September had an average price per square foot of $193.
  • The average sales price was $331,252.
  • The median sales price was $215,000.
  • The average days on the market was 264 and the median days on the market was 245.

With only 4 condos that were sold in September there is not enough sales to report the statistics. Three of the condos that were sold were in the Tahoe Keys which does not surprise me. The summer time is when the Keys Condos seem to sell the best.

August South Tahoe Real Estate Statistics

There was some improvement in the average sales price, median sales price, and price per square foot of the properties in South Lake Tahoe that were sold in August. For the first time since September 2010, the median sales price actually went up. The median sales price went from $291,000 in July to $295,000 in August. This was a very modest increase, but for the last 12 months there had been slight drops in the sales price each month.

The number of properties that were sold in August went down slightly as well. There were 44 single family homes and condos that were reported as sold on the South Lake Tahoe MLS, down only 3 units from 47 in July. 41 of the sold properties were single family homes and 3 were condos.

As of right now there are currently 504 single family homes listed on the MLS. There are 386 homes that are active and 118 homes that are in escrow.  Bank owned foreclosures account for 65 of the listings on the MLS. There are 26 bank owned foreclosures that are currently in escrow and 39 that are active. There are 71 short sales that are currently listed on the South Lake Tahoe MLS, 36 of the short sales are in escrow and 35 of the short sales are active.

Short sales and foreclosures are considered “distress sales”.  Although distress sales only account for 27% (136 properties) of the total listings in South Lake Tahoe, they account for 52% (61 properties) that are currently in escrow or “under contract”.

August South Tahoe Real Estate Statistics

  • There were 44 single family homes and condos that were sold in August, down from 44 in July.
  • The median sales price for the properties sold in August was $295,000, up from $291,000 in July and down 7.8%  from what it was in August 2010.
  • The average sales price was $343,558, up from $301,743 in July.
  • The average price per square foot was $192, up from $182 in July.
  • The median days on the market was 96 and the average days on the market was 139.
  • There were 11 bank owned foreclosures that were sold, down from 15 in July.
  • There were 6 short sales that were sold, down from 8 in July.

There was a large increase in the sales price per square foot in the foreclosures that were sold in August. The average sales price per square foot  for the foreclosures was $171 in August, up from only $150 in July. The price per square foot of the short sales was $199, up from $198 in July.

With 118 properties in South Lake Tahoe currently in escrow on the South Lake Tahoe MLS, September and October should be solid months with respect to the number of properties sold. It will be interesting to see how the prices of the properties that sell compare to what they were in August.

Short Sale Listing in South Lake Tahoe

761 Modesto Ave

Offered at $179,000!

 

Al Tahoe at it’s best! This charming cabin is about as clean and as cute as it gets! With 3 bedrooms and 2 bathrooms, 1152 square foot single level home is the perfect Tahoe getaway. Relax on the large and sunny trex deck after a short walk back from the beach! This home is currently used as a vacation rental and is in a great location for both summer and winter rental income. The interior has newer carpet, a gas fireplace, and some furnishings included.  This is an excelent short sale opportunity with only one Wachovia loan. Do not miss out on this well maintained mountain theme home!!!

  • 3 bedrooms, 2 bathrooms, 1152 square feet
  • Forced Air Natural Gas Furnace
  • Washer and Dryer hookups
  • Double Pane Windows
  • Large sunny Trex deck
  • Gas Fireplace
  • Great Short Sale Opportunity!

Short sale listing in South Lake Tahoe
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 For more information regarding this short sale listing in South Lake Tahoe or to set up an appointment to see this property, please call South Lake Tahoe Real Estate Agent Brent Johnson at (530) 416-2625.

Big Price Reduction!

1798 Nez Perce Drive

 

Was Priced at $299,000

Now

Offered at $269,000

What a setting! This clean county home sits on a parcel with conservancy lots on 3 sides! The bright and open floorplan of this 3 bedroom, 2 bath, 2 car garage home is warm and inviting. There is knotty pine accents and a very large living area which is great for entertaining. Recent upgrades include new carpet, flooring, vinyl windows and more. This home is being sold furnished per inventory list including the refrigerator, washer and dryer.  This home would make a perfect second home or primary residence! If you are looking for a peaceful area to own property in South Lake Tahoe, make sure to take a look at this property. The 10,146 square foot wooded lot surrounded by Conservancy lots gives this home the setting the you are looking for!

  • 3 Bedroom, 2 Bath, 2 Car Garage, 1248 Square Feet
  • 10,146 Square Foot Lot
  • New Flooring Throughout
  • Gas Fireplace
  • Double Payne Vinyl Windows
  • Concervancy Lots on 3 sides
  • Large Kitchen
  • Open and Bright Floor Plan
  • Much More!!!
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South Tahoe Real Estate for July 2011

As of July 31st there were 497 single family homes and condos listed on the South Tahoe MLS. Out of the 497 property listings, 85 were in escrow and 412 were active.  Short sales accounted for 81 of the listings and foreclosures accounted for 63 of the listings. Although the Median sales price seemed to have leveled off from October through March, it began to slip again this summer. The Median sales price of the homes sold has gone down 10.9% from what it was in July 2010.

Distress sales accounted for 55% of the properties that were sold in July. There were 15 foreclosures that were sold and 8 short sales that were sold. The foreclosures had an average sales price per square foot of $150, the short sales had an average price per square foot of $199 and the non-distress sales had an average price per square foot of  $199. All of the properties together had an average sales price per square foot of $182.

July 2011 South Lake Tahoe Real Estate Statistics

  • The median sales price of the properties in South Lake Tahoe that were sold in July 2011 was $291,000, down from $298,250 in June.
  • The average sales price of the properties that were sold in South Lake Tahoe was $301,743, down from $394,809 in June.
  • The average price per square foot was $182, down from $191 in June.
  • The average days on the market was 133 and the median days on the market was only 77.
  • There were 15 foreclosures in South Lake Tahoe that were sold in July, there were 16 foreclosures that were sold in June.
  • There were 8 short sales in South Lake Tahoe that were sold in July, there were 11 short sales that were sold in June.

 

There was more activity on Lots in South Lake Tahoe last month than there has been in a long time. There were 5 lots reported as sold on the South Lake Tahoe MLS, but there were 6 that were actually sold. The prices ranged from $25,000 all the way up to $200,000.  Currently there are 162 lots listed on the MLS and only 9 of them are in escrow.

Tahoe Keys Condos accounted for 3 of the 5 condos that were sold in July. The least expensive Keys condo was a 3 bedroom, 2 bath condo with a boat dock that sold for $250,000. There are currently 63 condo listings on the South Tahoe MLS. There are 6 condos that are in escrow and 57 that are active.