South Lake Tahoe real estate

South Lake Tahoe Real Estate Update for October, 2018

The South Lake Tahoe real estate market has continued to remain active has it has been since the bottom of the real estate bubble in late 2012/early 2013. The current median sales price for single family homes in South Lake Tahoe is holding steady at $470,000, a far cry from the rock bottom median sales price of $234,000 in August, 2012.

Although prices continue to trend upward, the number of homes currently in escrow and number of sales is down slightly year to date. South Lake Tahoe Real Estate There are currently 89 residential properties in escrow on the South Lake Tahoe MLS compared to 100 in October, 2017. This slight decrease in activity can be attributed to rising interest rates as well as the uncertainty of Measure T.

Measure T is a ballot measure designed to eliminate vacation rentals in residential areas located within the city limits of South Lake Tahoe. There are already 25 strict rules for vacation rentals that were just put into place for the only 1400 allowed vacation rentals within the city limits. We need to give those new rules a chance to work before loosing over $3,000,000 in TOT tax revenue, loosing over $100,000,000 in local business revenue, and loosing 100’s of jobs. I highly encourage anyone that is registered within the city limits to VOTE NO ON MEASURE T to maintain the current rules and limited number of rentals that we are allowed.

Here are the current South Lake Tahoe Real Estate Statistics broken down by the numbers:

There are currently 319 total residential listings on the South Lake Tahoe mls (both city and county areas) which is down from 344 total listings in October, 2017. 230 of the listings are active and 89 of the listings are active pending. The 89 escrows represent 27.9% of our total inventory in escrow.

Breakdown by price range of the 89 residential properties in escrow:

Under $200,000- 0 0%
$201,000 to $300,000- 7 7.92%
$301,000 to $400,000- 23 33.7%
$401,000 to $500,000- 20
$501,000 to $600,000- 8
$601,000 to $700,000- 8
$701,000 to $800,000- 9
$801,000 to $999,000- 3
Over $1 Million- 11

So far this year there have been 579 single family and condo/townhouses reported as sold on the South Lake Tahoe MLS, which is down slightly from 595 closings during the same period last year.

I do not expect Measure T to pass but regardless of the outcome, I expect to see more activity in the market after the results come out in early November. If Measure T does not pass many of the buyers that are currently on the fence about making offers will most likely decide to move forward with the offers. If Measure T does pass I would anticipate more homes to come on the market which will provide more options/inventory for home buyers.

For more information about the South Lake Tahoe Real Estate market please contact your local South Lake Tahoe Real Estate expert Brent Johnson at bjohnson@chaseinternational.com or (530) 416-2625 today!

South Lake Tahoe Real Estate Update as of 5/26

The following South Lake Tahoe Real Estate market update are for residential (single family and condo/townhouse) properties located in the City and County areas.

There are currently 386 total single family and condo/townhouse listings on the South Lake Tahoe MLS. This number is up from 300 year to date. Currently 301 of the listings are active and 85 are in escrow. In May, 2014 there were 228 active listings and 72 properties in escrow. As you can see, the inventory is currently higher and there are 13 more properties in escrow.

Distress sales only account for 2.3% of the current active inventory and 10.6% of the properties currently in escrow. There are 4 active short sale listings and 3 active bank owned foreclosure listings on the South Lake Tahoe MLS. There are 6 short sale listings and 3 bank owned foreclosures that are currently under contract.

The most active price range in South Lake Tahoe continues to be under $400,000. Almost half of the current pending properties are under $400,000. Below is a breakdown by price of the 85 escrows:

Price Number of Properties

Under $200,000 6

$201k-$300,000 16

$301k-$400,000 20

$401k-$500,000 14

$501k-$600,000 13

$601k-$700,000 6

$701k-$800,000 4

$801k-$999,000 2

Over 1 Million 4

So far this year there have been 193 total closings reported on the South Lake Tahoe MLS. Last year during the same period there were 194 sales reported. There have only been 8 bank owned foreclosures that have sold and 4 short sales that have sold this year accounting for 8% of the sales.

The average price per square foot for all single family homes sold in South Lake Tahoe has been $258 per square foot. The Median sales price is $355,000 which is up 7.3% from $330,750 in April 2014. The average days on the market for the single family homes was 121 days.

Properties continue to sell close to the asking price when selling within the first few months of being listed.

Properties that sold within the first 30 days of being listed sold for an average of 98.78% of the listing price.

Properties that sold between 31 and 60 days of being listed sold for an average of 97.91% of the listing price.

Properties that sold after 120 days of being listed sold for an average of 95.9% of the listing price.

If you would like more information about the South Lake Tahoe Real Estate market or details on the current South Lake Tahoe Real Estate statistics please call Brent Johnson at (530) 416-2625 today!

South Lake Tahoe Real Estate Snapshot for June 2014

The South Lake Tahoe Real Estate market was quite active in June with 56 single family homes and condo/townhouses sold on the South Lake Tahoe MLS. Although the market was quite active the median sales price remained the same as the previous month at $335,000. This is an 18% increase in the median sales price year to date.

South Lake Tahoe Real Estate Statistics

There were 56 single family homes and condos sold in June, 2014, up from 49 in May and up from 54 in June, 2013.
The median sales price for the single family homes that were sold in June was $335,000, the same as May and up 18% from $284,000 in June, 2013.
The average sales price was $362,923, down from $370,318 in May and down from $389,611 in June, 2013.
The average price per square foot was $249, up from $242 in May and up from $222 in June, 2013.
The average days on the market was 88 and the median days on the market was only 62 including the escrow period.

There were five bank owned foreclosures that were sold in June and there were no short sales that closed escrow. In May there were 3 bank owned properties that were sold and 6 short sales that closed escrow.

The quicker the houses were selling the closer to asking price the sellers were able to obtain. There were 5 homes that sold within the first 30 days on the market and they sold for an average of 98.15% of the listing price. There were 22 homes that were sold from 31-60 days on the market and they sold for an average of 98.5% of the list price. The houses that sat on the market for over 120 days had more wiggle room and sold for an average of 92.56% of the listing price.

For more information about the South Lake Tahoe Real Estate market or to set up an appointment to view any of the homes for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625 today!

Immaculate and Upgraded Ski Cabin!

1507 Black Bart

Offered at $295,000!!!

Virtual tour and additional photos

Immaculate Tahoe Chalet located just minutes from Heavenly Valley Ski Resort and the shores of beautiful Lake Tahoe! This well kept cabin shows like new both inside and out. The mountain contemporary theme offers the perfect blend of pine T&G paneling, sheet rock, and log accents. The living area is sure to impress with rustic open beam ceilings, slate flooring, and a gas stove with a brick surround. The recently updated kitchen has custom hickory cabinetry, granite slab counter tops, a gorgeous tumbled travertine back-splash, and a gas stove. Exterior features include a metal roof, trex decking, vinyl frame double pane windows, a storage shed, and a hot tub. The oversize 10,019 square foot fully fenced lot is the perfect place for Tahoe outdoor living and has plenty room for boat and RV parking. This classic Tahoe Chalet is a must see!

Large level lot with boat/RV storage
Slate flooring
Open beam ceilings
Vinyl frame double pane windows
Metal roof
Hot tub
Much More!!!

For more information about this cabin for sale in South Lake Tahoe or the South Lake Tahoe Real Estate market please call Brent Johnson at (530) 416-2625 today!

Newer Home for sale in Al Tahoe

844 Merced Ave.

Offered at $529,000!

Virtual Tour and Additional Photos

Location, Location, Location!!! This newer and well maintained home is located only one block from the lake in the desirable Al Tahoe area. Perfect for entertaining, the spacious great room has vaulted ceilings, a gorgeous wood burning fireplace, and plenty of natural sun light. The kitchen includes stainless steel appliances, granite slab counter tops, and miles of counter space. The oversize master suite has a walk in closet and a master bathroom with dual sinks, a jetted jacuzzi tub, and custom tile work. The second living area downstairs offers easy access to the fully fenced rear yard for the pets and a game of horseshoes. Just steps from the shores of beautiful Lake Tahoe and only minutes from Heavenly Ski Resort, the Casinos, and the El Dorado Commons, this location is hard to beat. Currently a successful vacation rental and selling completely furnished from the cookware to the hot tub, this property is truly turn key! For more information about this listing and the South Lake Tahoe Real Estate Market please call Brent Johnson at (530) 416-2625 today!

Granite Counters
One Block From the Lake
Built in 2006
Open Floor Plan
Wood Burning Fireplace
Fully Furnished
Much More!

Newer Home With Mountain Views!

1260 Pyramid Circle

Offered at $629,000!

Virtual Tour and additional photos of this

custom home for sale in South Lake Tahoe

This is one of the cleanest custom homes for sale in South Lake Tahoe! Mint condition newer home with mountain views in all directions! This custom home has a spacious great room and an additional sitting area with a gorgeous rock fireplace and Brazilian acacia hardwood flooring. The kitchen offers rich stained alder cabinets with soft close doors and drawers, a commercial gas range, and granite slab counters. The luxurious master bathroom is trimmed with travertine tile and includes a steam shower, jetted tub, dual sinks and in floor heat. The covered rear deck overlooks the lushly landscaped boulder studded 11,326 square foot lot. The back yard is fully fenced and has gated boat/rv parking. The massive triple car garage is approximately 1,000 square feet with epoxy covered floors, a built in work bench, and a wash basin with hot water. Other great features include a large laundry room with built in cabinets, 9′ tall ceilings, storage under the front deck, and Azek decking. All of this and across from miles of hiking, biking, and snowmobiling trails! For more information about this custom home for sale in South Lake Tahoe please call Brent Johnson at (530) 416-2625 today!