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!