South Lake Tahoe MLS

New South Lake Tahoe MLS Listing 680 Seneca

Brent and Jill Johnson have just listed a very cozy chalet style house for sale on the South Lake Tahoe mls located at 680 Seneca Drive.

Come and see this warm and cozy Tahoe chalet with Forest Service lots both in front and behind. Located on a large 11,000 square foot fenced lot, this home would make a wonderful vacation getaway or a primary residence. Some of this special homes features include two fireplaces, formal dining room, laundry room, and a library/ study. The walk through room to the Master could be used as a third bedroom.

Click Here for the Virtual Tour!

3 Bedrooms, 2 Baths, and a 1 Car Garage
1766 Square Foot Lot
Quiet County Neighborhood Just Minutes From Town
National Forest Service Lots in Front and Behind
10,646 Square Foot Lot
Much More!

For more information regarding Brent and Jills new listing at 680 Seneca, please call us at (530) 416-2625. If you have any questions regarding any listings on the South Lake Tahoe mls contact us today!

South Lake Tahoe Real Estate Market Update

June is starting off to be a great month for the South Lake Tahoe real estate market. Although the weather has been hit or miss, the South Shores home sales have been stable. So far this month there have been 26 single family homes in South Lake Tahoe that have gone into escrow, and 15 homes that have sold.

With the 26 new houses in escrow this month, the total number of single family homes on the South Lake Tahoe mls now in escrow is up to 96. There are 498 total single family listings on the mls, and with 96 of them in escrow, 19% of the current inventory is in escrow.

The statistics for the houses that have gone into escrow so far this month are as follows:

The median list price for the new escrows is $365,423
The median days on the market was 58
The median square footage is 1,739
The average price per square foot is $255
5 of the new escrows were bank owned foreclosure listings
4 of the new escrows were short sales

In June of 2008 the median sales price for single family homes in South Lake Tahoe was $415,000

In June of 2007 the median sales price for single family homes in South Lake Tahoe was $465,000

In June of 2006 the median sales price for single family homes in South Lake Tahoe was $485,000

In June of 2005 the median sales price for single family homes in South Lake Tahoe was $425,000

In June of 2004 the median sales price for single family homes in South Lake Tahoe was $340,000

The South Lake Tahoe real estate market is on track to match or exceed the sales and escrows that were reported in May. I will post the end of the month South Lake Tahoe real estate review on the first of July, and I am looking forward to another great month!

Newer Homes in South Lake Tahoe Selling now Selling at $226 Per Square Foot!

Newer homes in South Lake Tahoe are now selling for an average of $226 per square foot. That is just about the price that contractors were charging to build custom homes back in 2005 and 2006, not including the cost of land, permits, and plans!

House for sale in South Lake Tahoe — 840 Boulder Mountain

The recent sale of two of my newer home listings prompted me to look further into newer home prices compared to previous years.

I just sold a custom home built in 2006 for $565,000. 840 Boulder Mountain was a 2671 square foot 4 bedroom, 2.5 bath, 2 car garage home that sold for $211.53 a square foot. Located in the Angora Fire area of North Upper Truckee, this home has great views, but was a tough sale due to the fire damage to the surrounding landscape.

New house for sale in South Lake Tahoe — 1140 Sioux

1140 Sioux is a listing that I was just able to get into escrow. Sioux is one of the nicest quality newer houses for sale in South Lake Tahoe. With 4 bedrooms, 3 full bath rooms, and a 2 car garage, this 2828 square foot home is gorgeous. There is a National Forest lot on each side and across the street, giving this home a very private setting. The only thing holding this home back was that it was located in the Meyers area where there is not a lot of newer homes. With a list price of $579,000, this house had a list price per square foot of only $205!

So far this year there have been 14 houses sold in South Lake Tahoe that that are less than 4 years old. According to the South Lake Tahoe mls, the average price per square foot for the sold newer homes was $226. The Median sales price was $575,000 and the median square footage was 2,646. It seems like when a new or newer large house was reduced to under $600,000, it would sell quickly.

When you look at the newer houses that sold in 2006, the numbers are quite different. In 2006 the average price per square foot for the sold newer homes was $328! The median sales price was $800,000 and the median square footage of the sold homes was 2,584. The average price per square foot has declined over 31% and the median sales price has declined 28% on newer homes since 2006.

As of today, there are 68 newer homes for sale in South Lake Tahoe that are less than 4 years old. The average list price per square foot is $299, and the median list price is $793,500. It is the newer homes that are priced less than the competition, or have had major price reductions are the homes that are now selling. Location has also been very important. Newer homes in more reputable areas, with views, or near open land are also selling much more quickly than the average locations.

Once the current inventory of newer houses for sale in South Lake Tahoe decreases, we may see a need for spec home builders to get back into the market. Right now, with the large selection of newer homes on the market, it is till too tough for builders to compete with the current prices.

Foreclosures have not really affected the new home market as much as they have other areas of the market. There has only been two newer bank owned foreclosures in South Lake Tahoe that have been for sale on the mls. 1818 Jack Bell Ct. was a 4 bedroom, 2622 square foot foreclosure that was built in 2006 which sold for $500,000. 581 Gardner is a 4 bedroom, 4028 square foot bank owned foreclosure that is currently in escrow. The asking price for 581 Gardner was $629,900.

For a list of the new houses for sale in South Lake Tahoe, please call Brent and Jill Johnson today!

South Lake Tahoe Real Estate Review for May 2009

For the third month in a row, the number of new escrows for single family homes on the South Lake Tahoe mls has increased. In May there were 56 single family houses in South Lake Tahoe that went into escrow, this was up from 43 in April, and up from 38 in March. The total number of houses in South Lake Tahoe that are in escrow is now up to 96. With 20% of our current single family housing inventory in escrow, the South Lake Tahoe real estate market seems to be stabilizing.

Distress sales are still accounting for about half of our current escrows. Out of the 96 houses that are in escrow, 19 are bank owned foreclosures, and 31 are short sales. Out of the 56 new May escrows, 11 are bank owned foreclosures, and 14 are short sales.

The listing prices of the houses that went into escrow in May were also up from the escrows in April. Both the average list price per square foot and median list price of the new escrows was up slightly.

Statistics for the Pending May Single Family Homes in South Lake Tahoe for May

There were 56 new single family houses in South Lake Tahoe that went into escrow in May (up from 43 in April)
The median list price for the homes was $369,700 (up 5% from $349,900 in April)
The average list price per square foot was $253 (up 3% from $246 in April)
The median days on the market was 75 (down from 129 in April)
11 of the new escrows were bank owned foreclosures (13 foreclosure escrows in April)
14 of the new escrows were short sales (15 new short sale escrows in April)

The foreclosure listings in South Lake Tahoe that went into escrow in May were priced much lower than the non-foreclosure listings. The average price per square foot for the foreclosures in South Lake Tahoe was only $177. The median list price for the foreclosure listings was $295,000 and the average list price was $296,405. Many of the foreclosure listings had multiple offers on them and went into escrow within just a few days of being listed. There are now currently 19 foreclosures in South Lake Tahoe that are in escrow.

The new short sales in South Lake Tahoe that went into escrow had a much higher list price per square foot at $249. The median list price for the short sale listings was $479,000 and the average list price was $481,600. The short sales also took longer to sell, the average days on the market was 146.

The number of houses in South Lake Tahoe that actually sold in May was 26, up one home from April. There should be a lot more closed escrows in June from the pending sales from April and May. Escrows are now taking from 45 to 60+ days due to the fact that lenders are now taking longer to push loans through. The average sales price, median sales price, and average price per square foot were all up in May compared to April.

Statistics for the Sold Single Family Homes in South Lake Tahoe for May

There were 26 houses in South Lake Tahoe that sold in May
11 of the sold houses were bank owned foreclosures
The average sales price was $360,169 (up 13% from April when it was $334,696)
The median sales price was $315,000 (up 8% from April when it was $291,000)
The average sales price per square foot was $222 (up 5% from April when it was $210)
The average days on the market was 125
None of the 26 houses sold in May were reported as short sales!

With 31 short sales in South Lake Tahoe currently in escrow, and none that closed escrow in May, short sales are still a bit of a challenge to say the least.

The 11 foreclosures in South Lake Tahoe that sold in May had an average sales price of $187, a median sales price of $240,000, and an average sales price of $261,682. The median days on the market for the sold foreclosures was 69, including the escrow period.

The South Lake Tahoe real estate market is definitely showing signs that the bottom is either near or has passed. The amount of pending sales continues to rise and the median and average sales price has increased over the past month.

Make sure to keep reading Brent and Jills South Lake Tahoe real estate blog for the latest statistics for real estate in South Lake Tahoe!

Bank Owned Properties in South Lake Tahoe

Another bank owned foreclosure has been listed on the South Lake Tahoe mls. 1181 Nottaway has just been listed for $207,000. This house is 936 square feet and has a listing price per square foot of $221.15. The average listing price per square foot for the foreclosures in South Lake Tahoe that are currently on the market is $194 per square foot. This new foreclosure listing brings the total amount of foreclosures on the South Lake Tahoe mls to 25 and 21 of them are in escrow.

Great opportunity to earn some sweat equity with this bank owned foreclosure listing in the Tahoe Paradise area of South Lake Tahoe. Located on a flat and sunny 6534 square foot lot in a quiet neighborhood, this would make a great first home or a vacation home. This house is 936 square feet and has 2 bedrooms, 1 bath, and a 1 car garage.

There are other houses for sale in South Lake Tahoe other than foreclosures that are also good deals. If you would like a list of homes for sale in South Lake Tahoe that I think are priced well in a certain price range, please call Brent Johnson today!

New Bank Owned Listing in South Lake Tahoe

This new bank owned foreclosure listing in South Lake Tahoe is priced to sell! At only $154.09 per square foot, this foreclosure is priced well below the competition.

897 Tahoe Keys Blvd. Offered at $290,000!

Built in 1991, this bank owned home has a bright and open floor plan. This 3 bedroom, 2 bath, 2 car garage 1882 square foot home is centrally located on Tahoe Keys Blvd., and would make a great vacation home. There has been a remodel that was started, but not completed. This house needs flooring, baseboard, some miscellaneous window and door trim, and some other odds and ends. There has also been some landscaping work that has been started and was not finished. This foreclosure listing in South Lake Tahoe would make a great project for someone looking to earn some quick sweat equity!

Other features include:

Upstairs Living
Extensive decorative rock work
6148 square foot lot
1882 square feet
Tahoe Island Park location
Ask about loan incentives!

Do not miss out on this great opportunity, this home will sell fast so call Brent and Jill Johnson today! For more information about other bank owned properties in South Lake Tahoe and how to be notified instantly when bank owned properties hit the market, call Brent Johnson at (530) 416-2625.