What a difference a year makes! The housing inventory in South Lake Tahoe is substantially lower than what it was last year at this time. Typically the housing inventory is at its highest level in South Tahoe during the Spring and early Summer. Sellers that have taken their homes off of the market for the winter time and sellers that have waited for the snow to melt feel that the spring time is the time to sell. This year not as many sellers are listing their homes and there are not as many bank owned foreclosures on the market.

Last year at this time there were 503 total single family and condo listings in the city and county areas of South Lake Tahoe. This year there are only 419 total listings (this includes both active listings and listings that are in escrow).

There are currently only 249 active single family and condo listings on the South Lake Tahoe MLS. Last year there were 414 active listings. With 165 less active listings to choose from and more buyer activity, home buyers are required to be more aggressive in their offerand bidding stratigies.

Out of the 249 current active listings on the market, only 17 are short sales and 14 are bank owned foreclosures. Distress sales account for 12.4% of the current active inventory.  Last year there were 52 active short sales and 34 active bank owned foreclosures which was 20.8% of the active inventory.

Currently there are 170 single family homes and condos that are in escrow on the South Lake Tahoe MLS which is 40.6% of our inventory. Last year there were only 90 properties that were in escrow which accounted for only 17.9% of the inventory.

Distress sales account for 55.3% of the current listings that are in escrow. There are 65 short sales and 29 bank owned foreclosures that are in escrow. Last year distress sales accounted for 65.6% of the properties that were in escrow. There were 36 short sales and 23 bank owned properties that were in escrow.

So far this year there have been 271 total home/condo sales in South Lake Tahoe. During the same period last year there were 237 total closings. There have been 98 bank owned foreclosure sales (36.2% of closings) and 46 short sale closings (17% of closings). Last year there were 74 bank owned foreclosure sales (31.2% of closings) and 43 short sale closings (18.1% of closings).

Here is a breakdown by price range of the current escrows and the escrows in 2011 for the same period

• Under $200,000             61 properties  (25 in 2011)
• $201- $300,000             52 properties (25 in 2011)
• $301-$400,000              22 properties (15 in 2011)
• $401-$500,000              19 properties (13 in 2011)
• $501-$600,000               7 properties (2 in 2011)
• $601-$700,000               2 properties (4 in 2011)
• $701-$800,000               0 properties (3 in 2011)
• $801- $999,000               3 properties (1 in 2011)
•  Over $1,000,000            4 properties (2 in 2011)

For more information about houses for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625!