The South Lake Tahoe real estate market ended 2011 with a bang! There were 63 single family properties sold on the South Lake Tahoe MLS and the median sales price, average sales price, and price per square foot were up from what they were in November. Out of the 63 single family properties that were sold, 62 were free standing homes and only one was a condo. The condo that was sold was an end unit bank owned foreclosure by Heavenly Valley Ski resort which I had the buyer for. There were 34 distress sales last month which accounted for 54% of the December sales. There were 20 bank owned foreclosures that were sold and 14 short sales that were sold.

December South Tahoe Real Estate Statistics

• There were 63 single family homes and condos that were sold in December, up from 43 in November.
• The average price per square foot for the homes sold was $189, up from $163 in November.
• The average sales price of the single family homes that were sold was $379,393, up from $258,806 in November.
• The median sales price of the sold homes was $231,000, up from $228,800 in November.
• There were 20 bank owned foreclosures in South Lake Tahoe that were sold, up from 16 in November.
• There were 14 short sales in South Lake Tahoe that were sold, up from 10 in November.

South Lake Tahoe Foreclosure Statistics

• There were 20 bank owned foreclosures sold in December.
• The average price per square foot of the foreclosures that were sold was $163, up from $152 in November.
• The average sales price of the foreclosures was $235,370, down from $274,594 in November.
• The median sales price of the foreclosures was $169,000, down from $189,000 in November.
• The average days on the market for the foreclosures was 101 days.

South Lake Tahoe Short Sale Statistics

• There were 14 short sales in South Lake Tahoe that were sold in December on the South Lake Tahoe MLS.
• The average price per square foot for the short sales was $181, up from $146 in November.
• The average sales price  was $316,311, up from $222,787 in November.
• The median sales price of the short sales was $225,500,  up from $204,936 in November.
• The average days on the market was 224 days and the median days on the market was 204 days.

Currently there are 382 single family condos and  houses listed for sale in South Lake Tahoe on the MLS.  Out of the 382 listings, 105 are in escrow and 277 are still active. There are 63 Bank owned foreclosures on the MLS and 26 of the foreclosures are in escrow. Short sales account for 79 of the current listings and 50 of the short sales are currently in escrow.