Menu
Menu
You are here: Home / Archives for South Lake Tahoe MLS

South Lake Tahoe MLS

South Lake Tahoe MLS Statistics

South Lake Tahoe Home buyers looking for properties priced under $300,000 are finding that there is not much to choose from. Currently there are only 11 single family 3 bedroom, 2 bath, 2 car garage homes priced under $300,000 on the South Lake Tahoe MLS. There are 78 total single family listings under $300,000 including properties with less than 3 bedrooms, 2 bathrooms, and without garages.

The following statistics are for residential (single family and Condo/Townhouses) located in the City and County areas on the South Lake Tahoe MLS:

  • Total listings: 416
  • Active listings: 250
  • Listings in Escrow: 166

The 166 listings that are in escrow represent 39.9% of the total single family inventory in South Lake Tahoe.

Breakdown by price range of the 166 escrows:

  • Under $200,000    56 properties  33.7% of the inventory in escrow is under $200,000
  • $201-$300,000     47 properties  62% of the inventory in escrow is under $300,000
  • $301-$400,000     29 properties  79.5% of the inventory in escrow is under $400,000
  • $401-$500,000     16 properties
  • $501-$600,000       7 properties
  • $601-$700,000       3 properties
  • $701-$800,000       1 property
  • $801-$999,000       3 properties
  • Over 1 Million           4 properties

So far this year there have been 207 single family properties sold on the South Lake Tahoe MLS. Out of the 207 sales, 84 were bank owned foreclosures (40.5%) and 36 were short sales (17.4%).

South Tahoe Real Estate Stats for February

The South Lake Tahoe real estate market is still revolving around Short Sales and Foreclosures. In February, 25 of the 38 single family homes and condos that were sold were either short sales or foreclosures. There were 17 foreclosures, 8 short sales, and 13 equity sales that closed escrow on the South Lake Tahoe MLS. The percentage of distress sales in February was very close to what it was in January.  Distress sales accounted for 66% of the homes sold in February and 68% in January.

February South Tahoe Real Estate Statistics

  • There were 38 single family homes and condos that were sold on the South Lake Tahoe MLS  in February, down from 44 in January.
  • The average sales price for the homes that were sold was $246,326, down from $257,174 in January.
  • The median sales price was $201,000, down from $250,000 in January and down from $315,500 in February 2011.
  • The average price per square foot was $161, up from $160 in January and down from $195 in February 2011.
  • The average days on the market was 157 days and the median days on the market was 121 days.
  • There were 33 houses and 5 condos that were sold.

South Lake Tahoe Foreclosures

  • There were 17 bank owned foreclosures that were sold in February, down from 21 in January.
  • The average sales price of the foreclosures was $185,812, down from $196,650 in January.
  • The median sales price for the foreclosures was $185,000, up from $168,500 in January.
  • The average price per square foot in February was $138, up from $135 in January.
  • The average days on the market was 95 and the median days on the market was 81.

South Lake Tahoe Short Sales

  • There were 8 short sales in South Lake Tahoe that were sold on the South Lake Tahoe MLS in February.
  • The average sales price for the short sales was $212,763, down from $348,556.
  • The median sales price for the short sales was $181,000, down from $279,000.
  • The average price per square foot was $159,000, down from $183,000.
  • The average days on the market was 229 and the median days on the market was 180.

Current Inventory on the South Lake Tahoe MLS

The current inventory on the South Lake Tahoe MLS remains low, even for March. There are currently only 222 active single family listings avalible on the mls. There are 332 total single family listings and 110 of them are in escrow.  With 33% of the single family housing inventory being in escrow, our market is very active. Out of the four offers that I had written in the last 10 days on foreclosure listings, each one had multiple offers and sold over asking price.

Short sales and foreclosures account for 125 of the 332 total single family listings (38%) and account for 74 of the 110 listings that are in escrow (67%).

There are currently 78 short sale listings on the South Lake Tahoe MLS and 52 of the short sales are in escrow. There are 47 foreclosure listings on the MLS and 22 of the foreclosures are in escrow.

Please call Brent Johnson for more information regarding the South Lake Tahoe real estate market, or to set up an appointment to see some of the short sales and foreclosures that currently on the market.

January South Tahoe Real Estate Statistics

Distress sales accounted for a large portion of the South Lake Tahoe real estate market during the first month of the New Year. There were 44 single family homes and condos that were reported as sold on the South Lake Tahoe MLS, 30 of the sales were distress sales. With 68% of the home sales in South Tahoe being distress sales,  prices were negativily affected. The average price per square foot, median sales price, and the average sales price were down sharply in January from what they were in December.

January South Lake Tahoe Real Estate Statistics

  • There were 44 single family homes and condos that were sold on the South Lake Tahoe MLS in January 2012, down from 63 in December 2011.
  • There were 30 distress sales which accounted for 68% of the January sales, there were 34 distress sales in December which accounted for 54% of the sales that month.
  • The average sales price of the South Tahoe homes sold was $257,174, down from $379,393 in December.
  • The median sales price was $250,000, down from $265,000 in December and down from $319,500 (21.8%) from what it was in January 2011.
  • The average price per square foot was $160, down from $189 in December.
  • The average days on the market including the escrow period was 140 and the median days on the market was 135.

Foreclosures in South Lake Tahoe

  • There were 21 bank owned foreclosures in South Lake Tahoe that were sold in January, up from 20 in December.
  • The average price per square foot for the foreclosures that were sold on the South Lake Tahoe MLS was $135, down from $163 in December.
  • The average sales price of the foreclosures was $196,650, down from $235,370 in December.
  • The median sales price of the foreclosures was $168,500, down from $169,000 in December.
  • The average days on the market for the foreclosures was 123 and the median days on the market was 119

Short Sales in South Lake Tahoe

  • There were 9 short sales in South Lake Tahoe  that were sold in January, down from 14 in December.
  • The average price per square foot for the short sales was $183, up from $181 in December.
  • The average sales price of the short sales was $348,556, up from $316,311 in December.
  • The median sales price of the short sales was $279,000, up from $225,500 in December.
  • The average days on the market for the short sales was 153 and the median days on the market was 273.

The current inventory of single family homes and condos on the South Lake Tahoe MLS is very low. The inventory is actually lower than it has been since January of 2006. There are currently only 372 single family homes and condos listed on the MLS.

Out of the 372 listings, 103 of them are in escrow and 269 are still available. Included in the current inventory are 57 bank owned foreclosures. Out of the 57 bank owned listings, 23 are in escrow, and 34 are still available.

There are now 78 short sales listed on the South Tahoe MLS. Of the 78 short sale listings, 44 are in escrow and 34 are still available.

For more information regarding real estate in South Lake Tahoe, or to set up an appointment to view any of the properties that are for sale, please contact me by email at BjJohnson@ChaseInternational.com or on my cell phone at (530) 416-2625.

December South Tahoe Real Estate Statistics

The South Lake Tahoe real estate market ended 2011 with a bang! There were 63 single family properties sold on the South Lake Tahoe MLS and the median sales price, average sales price, and price per square foot were up from what they were in November. Out of the 63 single family properties that were sold, 62 were free standing homes and only one was a condo. The condo that was sold was an end unit bank owned foreclosure by Heavenly Valley Ski resort which I had the buyer for. There were 34 distress sales last month which accounted for 54% of the December sales. There were 20 bank owned foreclosures that were sold and 14 short sales that were sold.

December South Tahoe Real Estate Statistics

  • There were 63 single family homes and condos that were sold in December, up from 43 in November.
  • The average price per square foot for the homes sold was $189, up from $163 in November.
  • The average sales price of the single family homes that were sold was $379,393, up from $258,806 in November.
  • The median sales price of the sold homes was $231,000, up from $228,800 in November.
  • There were 20 bank owned foreclosures in South Lake Tahoe that were sold, up from 16 in November.
  • There were 14 short sales in South Lake Tahoe that were sold, up from 10 in November.

South Lake Tahoe Foreclosure Statistics

  • There were 20 bank owned foreclosures sold in December.
  • The average price per square foot of the foreclosures that were sold was $163, up from $152 in November.
  • The average sales price of the foreclosures was $235,370, down from $274,594 in November.
  • The median sales price of the foreclosures was $169,000, down from $189,000 in November.
  • The average days on the market for the foreclosures was 101 days.

South Lake Tahoe Short Sale Statistics

  • There were 14 short sales in South Lake Tahoe that were sold in December on the South Lake Tahoe MLS.
  • The average price per square foot for the short sales was $181, up from $146 in November.
  • The average sales price  was $316,311, up from $222,787 in November.
  • The median sales price of the short sales was $225,500,  up from $204,936 in November.
  • The average days on the market was 224 days and the median days on the market was 204 days.

Currently there are 382 single family condos and  houses listed for sale in South Lake Tahoe on the MLS.  Out of the 382 listings, 105 are in escrow and 277 are still active. There are 63 Bank owned foreclosures on the MLS and 26 of the foreclosures are in escrow. Short sales account for 79 of the current listings and 50 of the short sales are currently in escrow.

South Tahoe Real Estate Inventory

The number of available homes for sale on the South Lake Tahoe MLS continues to decrease as buyer activity remains steady.  The inventory of available homes for sale in South Tahoe usually declines this time of year as many sellers take their homes off of the market for the winter. This season seems to be a little different. With 116 single family homes currently in escrow, the buyers are the ones that are decreasing the inventory.

There are currently 444 total single family listings on the South Lake Tahoe MLS including both houses and condos. Out of the 444 listings, 116 are in escrow and 328 are available active listings. The 116 properties in escrow represent 26.1% of the total inventory in escrow.  Distress sales account for 68.1% of the properties that are currently in escrow. There are 25 bank owned foreclosures and 54 short sales that are in escrow. Distress sales only account for 25.9% of the active listings. There are 43 bank owned foreclosures and 42 short sales that are currently active on the MLS (not in escrow).

Here is a breakdown by price range of the 116 escrows:

  • 38 properties under $200,000
  • 29 properties  from $201-$300,000
  • 22 properties from $310-$400,000
  • 13 properties from $401-$500,000
  • 6 properties from $501-$600,000
  • 2 properties from $601-700,000
  • 2 properties from $701-800,000
  • 0 properties from $801-900,000
  • 4 properties over 1 million

So far this year there have been 504 single family homes and condos that have been sold in the city and county areas of South Lake Tahoe on the South Tahoe MLS. Bank owned foreclosures have accounted for 158 (31.3%) of the closings and short sales have accounted for 81 (16.1%) of the closings.

October South Lake Tahoe Real Estate Statistics

Buyer activity remained strong in October with 61 single family properties reported as sold on the South Lake Tahoe MLS. There were 62 single family properties that were sold in September, only one more than October. Of the 61 single family properties that were sold, 54 were detached single family homes and 7 were condos.

Distress sales accounted for 20 of the properties in South Lake Tahoe that were sold in October. There were 14 bank owned foreclosures and 6 short sales that were sold last month. This is down from 27 distress sales in September when 17 foreclosures and 10 short sales were sold.

There were two lakefront sales, one for $3,700,000 and one for $4,200,000 that really skewed the average price per square foot and average sales price. Using the lakefront sales the average price per square foot was $227, without the lakefront sales the average price per square foot was $188. For the following statistics I have excluded the lakefront sales.

October South Tahoe Real Estate Statistics

  • There were 61 single family homes in South Lake Tahoe that were sold in October, down from 62 in September.
  • The average price per square foot of the home sold was $188, up from $183 in September.
  • The average sales price was $293,666, down from $306,721 in September. The average sales price was $415,938 including the two lakefront sales.
  • The median sales price was $229,000, down from $233,250.
  • There were 14 foreclosures in South Lake Tahoe that were sold on the South Lake Tahoe mls, down from 17 in September.
  • There were 6 short sales in South Lake Tahoe that were sold, down from 10 in September.
  • The average days on the market was 155 and the median days on the market was 114.

October Statistics for Foreclosures in South Lake Tahoe

  • There were 14 bank owned foreclosures that were sold on the South Lake Tahoe MLS in October, down from 17 in September.
  • The average price per square foot was $162, up from $145 in September.
  • The average sales price was $243,457, down from $$258,292 in September.
  • The median sales price was $178,750, down from $213,357 in September,
  • The average days on the market was 84 and the median days on the market was 83.

October Statistics for Short Sales in South Lake Tahoe

  • There were 6 short sales in South Lake Tahoe that were reported as sold on the South Lake Tahoe MLS, down from 10 in September.
  • The average price per square foot was $154, down from 193 in September.
  • The average sales price for the short sales was $276,833, down from $331,252 in September.
  • The median sales price for the short sales was $$272,500, up from $215,000 in September.
  • The average days on the market was 223 and the median days on the market was 204.

With current mortgage interest rates at all time lows and 110 properties currently in escrow on the South Lake Tahoe MLS we should another great month of closings in November!