January South Tahoe Real Estate Statistics

I work with a lot of home buyers here in South Lake Tahoe and their biggest complaint seems to be the lack of current inventory. There are currently only 22 single family homes listed in the city and county areas of South Lake Tahoe under $300,000. There are only 3  houses under $300,000 that have at least 3 bedrooms, 2 bathrooms, and a 2 car garage.  There are a total of 218 single family condo and single family listings on the mls, 77 are in escrow and 141 are active.

The second complaint that I have been hearing is that prices seem to be going up! Rising prices are great for sellers but not so great for buyers. In January the median price, average sales price, and the sold price per square foot was up from December 2012 and up from what it was in January of 2012.

South Lake Tahoe MLS Statistics

• There were 44 single family homes and condos on the South Lake Tahoe MLS that were sold in January, down from 49 in December and the same as January 2012.
• The median sales price of the houses in South Lake Tahoe that were sold in January was $275,000, up from $242,000 in December,  and up from $222,500 in January 2012.
• The average sales price was $334,531, up from $309,849 in December, and up from $257,174 in January 2012.
• The average price per square foot was $198, up from $188 in December, and up from $160 in January 2012.
• The average days on the market was 149 and the median days on the market was 110.

The distress sale inventory has continued to decline as well. There are now only17 foreclosure listings in South Lake Tahoe on the MLS. Out of the 17 foreclosure listings only 5 are available and 12 are currently in escrow. There were only 5 foreclosures that were sold on the mls in January which is down from 9 foreclosure sales in December and down from 21 foreclosure sales in January 2012.

Foreclosures in South Lake Tahoe

• There are currently 17 (5 active) foreclosure listings on the South Lake Tahoe MLS.
• There were 5 foreclosure sales in South Lake Tahoe in January, down from 9 in December and down from 21 in January 2012.
• The average sales price was $244,340, up from $196,650 in January 2012.
• The median sales price was $215,000, up from $168,500 in January 2012.
• The average price per square foot was $164, up from $135 in January 2012.

There are currently only 20 short sales on the South Lake Tahoe MLS and only 3 of the short sales are still active. There were 8 short sales that closed escrow in January.

Short Sale Listings in South Lake Tahoe

• There were 8 short sales that were sold in January, up from 7 short sales in December, and down from 9 short sales in January 2012.
• The average sales price of the short sales was $145,550, down from $232,567 in December, and down from $348,556 in January 2012.
• The median sales price of the short sales was $148,650, down from $192,500 in December, and down from $279,000 in January 2012.
• The average price per square foot was $139, down from $159 in December , and down from $183 in January 2012.
• The average days on the market was 248 and the median days on the market was 198.

 Tahoe Keys Real Estate

The Tahoe Keys Real Estate market had a great start to 2012 as well. There were 6 houses in the Tahoe Keys that were sold in January. There were 4 homes sold that were on the water with lake access and two houses that did not have lake access. The average sales price of the Keys homes was $628,917 and the median sales price was $670,000. The average price per square foot was $301. With currently only 20 houses for sale in the Tahoe Keys and spring quickly approaching, inventory shortage and rising prices are coming.