May was a big month for closings on the South Lake Tahoe MLS. There were 75 single family homes and condos reported as sold on the MLS from May 1st to the 31st. Closings were up from 60  in April and up from 68  in May 2012. 

 The inventory of homes for sale is also on the rise which is great news for home buyers looking for more of a selection of homes to choose from.  Inventory levels are still historicaly low in South Lake Tahoe but have gone up about 19% over the last few months.  There are currently 374 single family homes and condos listed on the South Lake Tahoe MLS which is up from 302 in April. Out of the 374 listings, 268 are active and 106 are currently in escrow.

According to the South Tahoe Association of Realtors the median sales price for single family homes has not gone up for 10 months in a row. The median sales price for single family homes sold on the MLS was $270,000 which is up from $267,500 in April and up 13.1% from what it was in May 2012.

South Lake Tahoe Real Estate Statistics

• There were 75 single family homes and condos sold in May, up from 60 sales in April, and up from 68 sales in May 2012.
• The median sales price in May was $270,000, up from $267,500 in April, and up from $238,668 in May 2012.
• The average sales price in May was $385, 508, down from $443,983 in April, and up from $346,319 in May 2012.
• The average price per square foot in May was $239, up from $227 in April, and up from $189 in May 2012.
• The average days on the market was 133 and the median days on the market was only 62 including the escrow period.

Short Sales in South Lake Tahoe

• There are currently only 21 short sale listings on the South Lake Tahoe MLS. 17 of the short sales are in escrow and 4 are active.
• There were 8 short sales that closed escrow in May, up from 4 sales in April, and down from 14 sales in May 2012.
• The average price per square foot for the short sales was $187, up from $155 in April.
• The average sales price for the short sales was $237, 635, down from $361,4oo in April.
• The median sales price for the short sales was $227,500, down from $352,000 in April.

There were only 4 foreclosures that were sold in May which was down from 17 foreclosure sales in May 2012. The average sales price of the foreclosures sold was $188,475 and the median sales price was $194,450. The average price per square foot of the foreclosure sales was at $206.

For more information about the South Lake Tahoe real estate statistics and information about properties for sale in the Tahoe area please call Brent Johnson at (530) 416-2625 today!