Blog
Vacant Lot For Sale in South Lake Tahoe
1089 Carson Ave.
Just Listed for $45,000!
This is a great opportunity to purchase property in South Lake Tahoe for under $50,000! This buildable lot is centrally located in a flat sunny area close to all of Lake Tahoe’s famous activities and attractions. It is a great time to purchase properties in South Lake Tahoe at just a fraction of what it was selling for just a few years ago. 1089 Carson is a 5000 square foot lot with 30% coverage and an IPES score of 869. This lot has enough coverage to build a large two story home with a two car garage. For more information regarding this lot, please call South Lake Tahoe Real Estate agent Brent Johnson today!
South Tahoe Real Estate Review for May
After a very long winter here in Lake Tahoe the weather is finally warming up and Highway 50 is busy with visitors looking to escape the heat of the valley. The South Lake Tahoe Real Estate market should heat up this summer as well now that home prices are the lowest that they have been in years.
In May there were 35 homes in South Lake Tahoe that were sold on the South Tahoe MLS. Distress sales accounted for 22 of the 35 home sales. Short sales accounted for 8
of the distress sales and foreclosures accounted for the other 14.
Both the average sales price and the median sales prices were down sharply last month. The average price per square foot was only down slightly.
South Lake Tahoe Real Estate Statistics
- The average price per square foot of the sold houses in South Lake Tahoe in May was $183 per square foot, down from $186 per square foot in April.
- The average sales price was $316,777, down from $342,063 in April.
- The median sales price was $285,000, down from $314,500.
- The average days on the market was 163 and the median days on the market was 114.
- There were 8 short sales in South Lake Tahoe that were sold in May, the same number of short sales that were sold in April.
- There were 14 foreclosures in South Lake Tahoe that were sold in May, the same number of foreclosures that were sold in April.
The foreclosures in South Lake Tahoe that were sold in May had an average price per square foot of $153 and the short sales had an average price per square foot of $173. The non distress sale properties that sold had an average price per square foot of $221. The average sales price of the foreclosures was $262,193 vs $400,963 for the non distress sales. The median sales price of the foreclosures in South Lake Tahoe that were sold was $$205,000 vs $360,000 for the non distress sales.
The short sales in South Lake Tahoe that were sold had an average price per square foot of $173, a median sales price of $244,000 and an average sales price of $275,000.
As you can see, the distress sales continue to bring down the average sales price, median sales price, and average price per square foot of the home sales in South Lake Tahoe.
Tahoe Keys Real Estate
Spring is the time of year when the homes in the Tahoe Keys begin to sell as well. This year the lake is almost full and the water levels in the Tahoe Keys look Great! There were 6 Tahoe Keys properties that were sold in May. There were 2 Tahoe Keys condos that were sold and 4 homes that were sold. Two of the homes that sold were foreclosures and one was a short sale.
South Tahoe Real Estate Statistics
The following statistics are for residential (both single family and condo/town homes) located in the City and County areas of South Lake Tahoe. Currently there are 440 total listings on the South Lake Tahoe MLS
. 348 of the listings are active and 92 of the listings are in escrow. Short sales in South Lake Tahoe account for 81 of the current MLS listings. Out of the 81 short sales, 42 of the short sales are active and 39 of the short sales are currently in escrow. 49 of the current MLS listings are Bank Owned Foreclosures. Out of the 49 foreclosures, 31 are active and 18 are in escrow.
Distress sales account for 21% of the active inventory of residential listings (42 short sales and 31 foreclosures).
Distress sales account for 62% of the residential inventory that is in escrow (39 short sales and 18 foreclosures).
The 92 homes and condos that are in escrow represent 20.9% of our inventory. Chase International is representing 33 of the 92 current escrows.
Breakdown by price range of the 92 escrows:
- Under $200,000 26
- $210 t0 $300,000 28
- $301 to $400,000 17
- $401 to $500,000 8
- $501 to $500,000 5
- $601 to $700,000 3
- $701 to $800,000 2
- $801 to $999,000 2
- Over 1 Million 2
So far this year there have been 182 single family homes and condo/town houses that have been sold on the South Lake Tahoe MLS. Bank owned foreclosures have accounted for 58 (31.9%) of those closings. Short sales have accounted for 30 (16.5%) of the closings so far this year.
The South Tahoe Real Estate market continues to be very active in the lower price ranges, especially under $300,000. Short sales and Foreclosures in South Tahoe also continue to attract the attention of buyers and investors looking to take advantage of the low prices and interest rates that are currently available.
New Lot Listing in South Tahoe
Lot # 17 in Christmas Valley offered at $99,000!
Great mountain views from this large 14,028 square foot lot in Christmas Valley. This lot is located near the end of South Upper Truckee Road on the corner of Panorama offering a quiet and desirable setting. This lot is within walking distance to the Upper Truckee river and miles of U.S. Forest Service land. With plenty of sun and a Forest Service lot across the street, this lot would make a great location to build a large vacation home or primary residence. This lot has an IPES score of 823 and 23% coverage. There is no physical address for this property yet and the tax assessor shows this property as lot #17 in River Park Estates. This lot has paved access, utilities, and city water and sewer.
Please contact South Lake Tahoe real estate agent Brent Johnson for any additional information regarding this property!
Pioneer Trail
The Pioneer Trail area is located off of Pioneer Trail in between Montgomery Estates and Country Club Estates in the county area of South Lake Tahoe. The Pioneer Trail area is centrally located and has quick access the ski resorts, beaches, and casinos.
The homes in the Pioneer Trail area are located on forested and gently sloping lots. Many of the homes back up to National Forest land or are located near Forest Service or Conservancy lots. The homes in the area range from older chalet style cabins, to newly constructed large custom homes. Home prices in the area are generally less than what they are in the neighboring Montgomery Estates area making it a great option for many buyers.
The Pioneer Trail area gives you the feeling of being in the mountains of Tahoe, yet it is just minutes from the lake. The mature pine trees, mountain views, and larger lots make this area a wonderful place to own real estate in South Lake Tahoe. Outdoor enthusiasts will love the access to many popular hiking, mountain biking, and snowshoeing trails. Make sure to include the Pioneer Trail area in your search for Real Estate in South Lake Tahoe if you are looking for a quiet place to escape that is not too far away from the action!
