Foreclosures in South Lake Tahoe

June South Lake Tahoe Real Estate Statistics

Prices in the South Lake Tahoe Real Estate market have continued to steadily rise throughout the spring and into the summer season. The median sales price for residential single family homes was up 20.9% in June from the previous year. The median price rose from $235,000 in June of 2012 to $284,000 in June of 2013. The price per square foot of the single family and condo/townhouses also had a significant jump

Bass — Taking a quick summer break from Real Estate for some catch and release!

during the same 12 month period. The average price per square foot was up to $222 in June 2013 from $177 in the previous year.

South Lake Tahoe Real Estate Statistics for June 2013

There were 54 single family homes and condos that were sold in South Lake Tahoe in June, down from 75 in May and down from 77 in June 2012.
The median sales price in South Lake Tahoe was $284,000, up from $270,000 in May and up from $235,000 in June 2012.
The average sales price was $389,611, up from $385,508 in May and up from $279,311 in June 2012
The average price per square foot was $222, up from $177 in June 2012.
The average days on the market was 95 and the median days on the market was 54.

There were only 3 foreclosures in South Lake Tahoe that were sold in the month of June on the MLS. In June of 2012 there were 18 foreclosures that had sold. There are currently only 11 foreclosures listed on the South Tahoe MLS and 2 of the foreclosures are in escrow. It seems as if the banks are pricing the foreclosures much higher than they were over the last few years and that the foreclosure listings have a longer days on the market than they did in the past.

Short Sales in South Lake Tahoe

There are currently 20 short sale listings on the South Tahoe MLS. 12 of the short sales are currently in escrow and 8 of the short sales are active.
There were 6 short sales that were sold in June, down from 8 short sales in May and down from 12 short sales in June 2012.
The average sales price of the short sales was $323,333.
The median sales price of the short sales was $337,500.
The average sales price per square foot wwas $160.
The average days on the market was 123 and the medain days on the market was 212.

The number of homes and condos for sale in South Lake Tahoe is up slightly from May but seems to have leveled off. There are currently 387 houses listed on the mls, 107 of the homes are in escrow and 280 are still active. This is up from 374 listings last month with 106 in escrow and 268 active listings.

For more information about the South Lake Tahoe Real Estate market please call Brent Johnson today!

Mini-Estate Foreclosure Listing in South Lake Tahoe!

1290 Angora Lake Road

Offered at $1,295,000!

Do not miss out on this foreclosure located just minutes from the sandy shores of the worlds most beautiful lake and the slopes of Heavenly Valley Ski Resort. Located on two separate lushly landscaped parcels this mini estate is one of the most unique and custom properties in the South Shore. The main house has 4 bedrooms, 2.5 baths, and a 3 car garage. Newly constructed in 2012, the adjacent parcel has a studio guest house above a 4 car garage and a large basement that would make a perfect gym, wine cellar, or the ultimate man cave! This property has brand new appliances, carpet, and paint and the rustic oak hardwood has just been refinished. This home has top of the line surround sound speakers, and a security system with cameras, and is pre-wired for HD flat screen TV’s. The stunning park like landscaping includes a built in gas fire pit, giant boulders, and meandering paving stone walk ways. This estate would make a perfect vacation rental, second home, or corporate retreat!

Two Homes on Two Lots
Enough Garage Space for 7 Cars
Mother In Law Unit Constructed in 2012
Huge Basement Perfect for a Man Cave or Wine Cellar
Bright and Open Living Space
Perfect Opportunity for a Vacation Rental (keep the mother in law unit to use anytime!)
Stunning Landscaping
Boat and RV Parking
Fully Fenced Back Yard
Much Much More!!!

For more information about this great foreclosure opportunity call Brent Johnson at (530) 416-2625 today!

February South Tahoe Real Estate Statistics

My monthly South Lake Tahoe real estate statistic updates are beginning to sound like a broken record, prices are going up and inventory is going down… The median and average sales price of the homes in South Lake Tahoe that were sold in February were up from January 2013 and up from February 2012. The inventory of condo/townhomes and single family homes for sale on the South Lake Tahoe MLS has fallen from 141 active listings to only 112 active listings in the City and County areas. The current inventory is now less than half of what was for sale this time last year. Distress sale inventory is also at the lowest level it has been in years. There are currently only 3 active single family short sale listings and only 5 active foreclosure listings on the mls.

The lack of distress sale listings as well as the lack of lower end listings is causing both the median and average sales prices in South Lake Tahoe to rise. In February the median sales price of the single family homes and condos was $277,600, up from $275,000 in January, and up from $205,000 in February of 2012. That is a $70,000 increase in the median sales price in just one year! The average sales price in February was $346,837, up from 334,531 in January, and up from $257,361 in February of 2012.

February South Lake Tahoe MLS Statistics

There were 38 homes and condos on the South Lake Tahoe MLS that were sold in February, down from 44 in January and up from 33 in February 2012.
The median sales price was $277,600, up from $275,000 in January and up from $205,000 in February 2012.
The average sales price was $$346,837, up from $334,531 in January and up from $257,361 in February 2012.
The average price per square foot was $198, the same as it was in January, and up from $163 in February 2012.
The average days on the market was 130 and the median days on the market was 107. In February 2012 the average days on the market was 150 and the median was 117.

The foreclosure inventory shrank from 17 total foreclosure listings to only 10 foreclosure listings. Out of the 10 foreclosure listings, 5 are currently active and 5 are in escrow.

Foreclosures in South Lake Tahoe

There are 10 total foreclosure listings for single family homes and condos on the South Tahoe MLS, 5 are active and 5 are in escrow. At the end of January there were 17 total foreclosure listings and 5 of them were active.
There were 10 foreclosures in South Lake Tahoe that were sold on the mls in February, up from 5 in January and down from 15 in February 2012.
The average sales price of the foreclosure sales was $310,740, up from $244,350 in January and up from $185,283 in February 2012.
The median sales price of the foreclosures was $270,100, up from $215,000 in January and up from $170,000 in February 2012.
The average price per square foot was $178, up from $164 in January and up from $138 in February 2012.

The current inventory of short sale listings in South Lake Tahoe did not change much from what it was in January and remains low compared to what it has been the in the last few years. There are now only 23 total short sale listings for single family and condo/townhomes in South Lake Tahoe. Out of the 23 total short sale listings, 19 are in escrow and only 3 are still active.

Short Sales in South Lake Tahoe

There are currently 23 single family and condo short sale listings on the South Lake Tahoe MLS. Only 3 of the short sale listings are still active. In January there were 24 short sale listings and only 3 were active.
There were 6 short sales that were sold in February, down from 8 in January and up from 5 in February 2012.
The average sales price of the short sales was $296,780, up from $145,55o in January and up from $242,920 in February 2012.
The median sales price of the short sales was $323,900, up from $148,650 in January and up from $200,000 in February 2012.
The average price per square foot was $176, up from $139 in January and up from $161 in February.

With only 200 total single family and condo/townhouses currently listed in the City and County areas of South Lake Tahoe and 88 of them in escrow I am hoping that we will see some new listings this spring. My best advice for buyers that are searching for a property in South Lake Tahoe is to keep in touch with your agent and make sure to look at the new listings on a daily basis. If a listing that interests you comes on the market, chances are that this listing will interest other buyers as well. Make sure that you are pre-approved so that you are ready to make an offer on the next listing that you have been waiting for before someone else does.

Lake Tahoe Real Estate Market Booms in September!

South Lake Tahoe home buyers continued to snatch up properties at bargain prices and with historically low interest rates this fall. According to the South Lake Tahoe MLS there were 82 single family homes and condo/townhomes that were sold in September. The number of homes sold in South Tahoe last month was up from 76 sales in August and up from 70 sales in July. Also up in September was the median sales price and the average sales price of the properties that were sold.

The continuing buyer activity and lack of distress sales coming on the market is now causing a shortage of inventory here in Tahoe. There are currently only 351 single family and condo/townhome listings on the South Lake Tahoe MLS. There are 124 properties that are currently in escrow and only 227 active listings. The distress sale inventory is even lower. There are only 14 bank owned properties currently listed and 7 of them are in escrow. There are still 48 short sale listings on the mls but 36 of the short sales are in escrow and only 12 are still available.

South Lake Tahoe MLS Statistics for September

There were 82 single family homes and condo/townhomes sold in September, up from 76 sales in August.
The median sales price for the properties that were sold was $255,000, up from $235,000 in August.
The average sales price was $298,807. up from $294,090 in August.
The average price per square foot was $183, down from $188 in August.
The average days on the market was 128 and the median days on the market was 93.

South Lake Tahoe Foreclosure Statistics

There are currently only 14 bank owned foreclosures listed on the South Lake Tahoe MLS. 7 of the foreclosure listings are in escrow and 7 are still active. Last month there were 15 total foreclosure listings.
There were 8 bank owned foreclosure listings that were sold in September, down from 19 foreclosure sales in August.
The average foreclosure sale price was $284,063, up from $214,576 in August.
The median foreclosure sale price was $184,000, up from $175,000 in August.
The average sales price per square foot was $149, up from $143 in August.
The average days on the market was 97 and the median days on the market was 69.

Short Sales in South Lake Tahoe

There are currently 48 short sales listed on the South Lake Tahoe MLS. 36 of the short sale listings are in escrow and only 12 are active. There were 56 short sales on the market in August.
There were 18 short sales that closed escrow in September, up from only 6 sales in August.
The median sales price of the short sales was $272,500, up from $220,000 in August.
The average sales price of the short sales was $266,709, up from $211,667 in August.
The average price per square foot was $166,
The average days on the market was 192 and the median days on the market was 136.

If the number of distress sales continues to decrease and the inventory of homes for sale in South Lake Tahoe remains low, the housing market should also continue to stabilize and prices may increase as well. For more information about the South Lake Tahoe real estate market please call Brent Johnson at (530) 416-2625!

August South Tahoe Real Estate Update

August ended up being another great month for sales of single family homes and condos in South Lake Tahoe. There were 76 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. Although buyer traffic was heavy and the inventory of available homes was low, the median price and average price per square foot remained steady.

August Single Family and Condo Statistics

There were 76 single family homes and condos sold in August, up from 70 in July.
The average price per square foot was $188, down from $193 in July.
The median sales price was $235,000, down from $236,500 in July.
The average sales price was $294,090, down from $337,956 in July.
The average days on the market was 147 and the median days on the market was 85

The inventory of homes for sale in South Lake Tahoe remained low. There are currently 388 total single family home and condo listings on the MLS and 143 of them are in escrow. With 37% of the inventory in escrow, many buyers are getting involved in multiple offer situations, especially on properties priced under $300,000. One of the reasons that our inventory is so low is that we are not seeing many distress sales coming on the market. Currently there are only 6 active foreclosures and 14 active short sales listed on the South Lake Tahoe MLS.

Foreclosures in South Lake Tahoe

There are currently 15 foreclosure listings on the MLS, 6 of the foreclosures are active and 9 of the foreclosures are in escrow.
There were 19 bank owned foreclosures that were sold on the MLS in August, up from 11 foreclosure sales in July.
The median sales price of the foreclosures was $175,000, down from $220,000 in July.
The average sales price was $214,576, down from 228,023 in July.
The average price per square foot was $143, up from $138 in July.
The median days om the market was 84.

Short sales in South Lake Tahoe

There are currently 56 total short sales on the South Lake Tahoe MLS
43 of the short sales are in escrow and only 14 are still active.
There were 6 short sales that closed escrow in August, down from 13 in July.
The median sales price of the short sales was $220,000, up from $165,000.
The average sales price of the short sales was $211,667, up from $177,596 in July.
The average days on the market was 218 and the median days on the market was 216.

For more information about South Lake Tahoe Real Estate please call Brent Johnson at (530) 416-2625!

My Recent Property Sales in South Lake Tahoe!

I wanted to take some time to thank all of my clients that have recently purchased a property in South Lake Tahoe with me. It has been a busy year and I have been able to make some great friends along the way. Over the last year and a half I have sold 59 properties in South Lake Tahoe. Bank owned foreclosures have accounted for 19 of my sales and 10 of the properties were short sales. Selling this many properties in this amount of time has added to my knowledge of the area and how to handle distress sales. I have now been a top producing real estate agent for 8 years, and I am looking forward to many many more years of selling properties here in South Lake Tahoe.

Here is a list of my recent property sales here in South Lake Tahoe:

2091 12th Street sold for $265,000 in Tahoe Island Drive. I represented both sides in this transaction.
761 Modesto Ave. sold for $176,500 in Al Tahoe (short sale)
3047 Sacramento Ave. sold for $195,000 in Al Tahoe (foreclosure)
844 Merced Ave. sold for $395,000 in Al Tahoe (foreclosure)
3804 Alder Ave. sold for $108,800 in Stateline (foreclosure)
3610 Forest Ave. sold for $128,000 in Bijou (foreclosure)
1606 Glenwood Way sold for $285,000 in Bijou (short sale)
3689 Spruce Ave. sold for $285,000 in Bijou (short sale)
1623 Andy Jo Circle sold for $298,000 in Bijou (foreclosure)
1103 Long Valley sold for $125,000 in Bijou Pines
2231 Cornelian Drive sold for $248,000 in Meyers (foreclosure)
3445 E. River Park Drive sold for $460,000 in Christmas Valley
748 Roger Ave. sold for $197,000 in Gardner Mountain
729 Sand Harbor sold for $424,000 in Gardner Mountain (foreclosure)
1410 Ski Run Blvd. unit #23 sold for $158,000 in Heavenly Valley (foreclosure)
1439 Ski Run Blvd. unit #C4 sold for $189,900 in Heavenly Valley (foreclosure)
916 Sagewood Drive sold for $439,000 in Highland Woods (new construction)
1050 Crow Street sold for $157,500 in Meyers
1061 Golden Bear Trail sold for $335,000 in Montgomery Estates (short sale)
1843 High Meadow Trail sold for $439,999 in Montgomery Estates
3070 Jacarillo Trail sold for $450,000 in Montgomery Estates
1744 Delaware Street sold for $190,000 in the North Upper Truckee area
638 Grizzly Mountain sold for $201,000 in the North Upper Truckee area
560 Kiowa Drive sold for $239,000 in the North Upper Truckee area
1980 Tooch Street sold for $201,900 in the Pioneer Trail area (foreclosure)
1531 Pioneer Trail sold for $342,000 in the Pioneer Trail area (short sale)
1427 Bozeman Drive sold for $167,000 in Pioneer Village (short sale)
2530 Elwood Ave. sold for $65,500 in the Sierra Tract (duplex foreclosure)
1165 Martin Ave. sold for $105,000 in the Sierra Tract
2515 Armstrong Ave. sold for $140,500 in the Sierra Tract (foreclosure)
1087 Marjorie Street sold for $172,500 in the Sierra Tract (foreclosure)
875 Patricia Street sold for $237,000 in Tahoe Island Drive
561 Eloise Ave. sold for $335,000 in Tahoe Island Drive (short sale)
2360 Washington Ave. sold for $235,100 in Tahoe Island Park (foreclosure)
2319 Montana Ave. sold for $239,000 in Tahoe Island Park
2276 Colorado Ave. sold for $250,000 in Tahoe Island Park
1853 Venice Drive sold for $420,000 in the Tahoe Keys
2166 Inverness Drive sold for $580,000 in the Tahoe Keys
2182 Monterey Drive sold for $740,000 in the Tahoe Keys
1086 Cheyenne Drive sold for $145,000 in Meyers (foreclosure)
1603 Cree Street sold for $165,000 in Tahoe Paradise (foreclosure)
1572 Oglala Street sold for $172,000 in Tahoe Paradise
1646 Canienaga Street sold for $266,000 in Tahoe Paradise
1596 Sitka Street sold for $297,500 in Tahoe Paradise
1816 Hekpa Drive sold for $350,500 in Tahoe Paradise (foreclosure)
1900 Delta Street sold for $110,100 in the Y Area (foreclosure)
1194 Margaret Ave. sold for $157,000 in the Y Area (short sale)
1897 Delta Street sold for $158,000 in the Y Area
1141 Margaret Ave. sold for $235,000 in the Y Area
802 San Francisco Ave. sold for $195,000 in Al Tahoe (duplex)
3688 Paradise Ave. sold for $300,000 in Bijou (short sale duplex)
734 Alameda Ave. sold for $80,000 in Al Tahoe (vacant lot)
17 Panorama sold for $78,000 in Christmas Valley (vacant lot)
1469 Bonita Road sold for $99,000 in the Heavenly Valley area (vacant lot)
2903 Lakewood Circle sold for $54,000 in Highland Woods (vacant lot)
1830 grizzly Mountain Drive sold for $92,000 in the North Upper Truckee area (vacant lot)
2028 13th Street sold for $49,000 in Tahoe Island Drive (vacant lot)
746 Eloise Ave. sold for $50,000 in Tahoe Island Drive (vacant lot)
3690 Primrose Road sold for $655,000 in Stateline (7 unit apartment building)