South Tahoe Real Estate for July 2011
As of July 31st there were 497 single family homes and condos listed on the South Tahoe MLS. Out of the 497 property listings, 85 were in escrow and 412 were active. Short sales accounted for 81 of the listings and foreclosures accounted for 63 of the listings. Although the Median sales price seemed to have leveled off from October through March, it began to slip again this summer. The Median sales price of the homes sold has gone down 10.9% from what it was in July 2010.
Distress sales accounted for 55% of the properties that were sold in July. There were 15 foreclosures that were sold and 8 short sales that were sold. The foreclosures had an average sales price
per square foot of $150, the short sales had an average price per square foot of $199 and the non-distress sales had an average price per square foot of $199. All of the properties together had an average sales price per square foot of $182.
July 2011 South Lake Tahoe Real Estate Statistics
- The median sales price of the properties in South Lake Tahoe that were sold in July 2011 was $291,000, down from $298,250 in June.
- The average sales price of the properties that were sold in South Lake Tahoe was $301,743, down from $394,809 in June.
- The average price per square foot was $182, down from $191 in June.
- The average days on the market was 133 and the median days on the market was only 77.
- There were 15 foreclosures in South Lake Tahoe that were sold in July, there were 16 foreclosures that were sold in June.
- There were 8 short sales in South Lake Tahoe that were sold in July, there were 11 short sales that were sold in June.
There was more activity on Lots in South Lake Tahoe last month than there has been in a long time. There were 5 lots reported as sold on the South Lake Tahoe MLS, but there were 6 that were actually sold. The prices ranged from $25,000 all the way up to $200,000. Currently there are 162 lots listed on the MLS and only 9 of them are in escrow.
Tahoe Keys Condos accounted for 3 of the 5 condos that were sold in July. The least expensive Keys condo was a 3 bedroom, 2 bath condo with a boat dock that sold for $250,000. There are currently 63 condo listings on the South Tahoe MLS. There are 6 condos that are in escrow and 57 that are active.
