South Lake Tahoe Real Estate Update for November 2012

The month of November was a solid month for the South Lake Tahoe Real Estate  market as well as the National Housing market. There were 71 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. This is a significant increase from the 57 properties that were sold in October and the 46 that were sold in November 2011. As well as the increase of units sold, the median sales price, average sales price, and the sales price per square foot was up from October.

The inventory of houses for sale in South Lake Tahoe continued a steady decline which is a factor causing prices to increase.  There are currently 264 total single family and condo listings on the South Lake Tahoe MLS in the city and county areas of South Tahoe.  Out of the 264 listings, 95 are in escrow and only 169 are still active.

 In October 2012 there were 317 total listings and 207 active listings.

In September 2012 there were 351 total listings and 234 active listings.

November South Lake Tahoe Real Estate Statistics

• There were 71 single family homes and condos that were sold in South Lake Tahoe in November, up from 57 in October and up from 46 in 2011.
• The median sales price for the properties is South Lake Tahoe that were sold was $285,000, up from $265,000 in October and up from $228,400 in 2011.
• The average sales price was $397,279, up from $350,336  in October and up from $256,558 in November 2011.
• The average price per square foot was $204, up from $189 in October and up from $165 in November 2011.
• The median days on the market was 113 and the average days on the market was 162.

The South Lake Tahoe foreclosure market has contributed to the change in the real estate market. There are currently only 19 single family and condo foreclosure listings on the South Lake Tahoe MLS. Out of the 19 foreclosure listings, 13 are in escrow and only 6 are active.  In October there were 22 foreclosure listings and 9 were active.

South Lake Tahoe Foreclosure Statistics

• There were 10 bank owned foreclosures on the South Lake Tahoe MLS that were sold in November, up from 3 that were sold in October.
• The median sales price for the foreclosures that were sold was $259,900, up from $176,000 in November.
• The average sales price was $298,527, up from $173,967 in October.
• The average days on the market was 82 and the median days on the market was 64.
• The average price per square foot was $169,  up from $143 in October.

Short Sales In South Lake Tahoe

• There are currently only 34 single family and condo short sale listings on the South Lake Tahoe MLS in the City and County areas and only 5 of the listings are active.
• There were 8 short sale listings that closed escrow in November, down from 12 in October.
• The median sales price of the short sale listings was $$245,050, up from $242,500.
• The average sales price was $335,875, up from $250,599 in October.
• The average price per square foot was $189, up from $155.
• The average days on the market for the short sales was 179 and the median days on the market was 180.

For more information regarding the South Lake Tahoe real estate market please call Brent Johnson at (530) 416-2625. To view a list of properties for sale in South Lake Tahoe, Foreclosures for sale in South Lake Tahoe, Short Sales for sale in South Lake Tahoe, or Tahoe Keys Real Estate for sale please click on the previous links.