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!
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