Vacant Lots in South Lake Tahoe

The South Lake Tahoe real estate market has been much better than the weather! There are now has 95 single family homes in escrow. There have not been that many homes in escrow since the peak of the market in July of 2005!

Vacant lots in South Lake Tahoe are also starting to sell. There are now 5 lots that are in escrow. Although that may not seem like a lot of escrows, there are more lots now in escrow than there has been in the last year!

Here is a list of the lots in South Lake Tahoe that are currently in escrow:

1. 881 Julie Lane- 6600 square foot lot in the Gardner Mountain area. The asking price was $67,500. This lot was only on the for a few days, and had multiple offers!
2. 782 Lookout Point- 10,890 square foot lot with allocation in the Angora burn area of North Upper Truckee. The asking price of this lot was $189,000. This lot was on the market for 417 days.
3. 1988 Venice Drive- 7000 square foot lot in the Tahoe Keys with plans, permits, and allocation. This is one of the few remaining lots in the Tahoe Keys area. The asking price was $204,000. This lot was on the market for 401 days.
4. 1992 Venice Drive- 8100 square foot lot in the Tahoe Keys. The asking price was $214,000 and included plans, permits, and allocation.  This lot was also on the market for 401 days.
5. 922 Cone Road- 10,858 square foot lot in the Angora fire area of North Upper Truckee. This lot is being sold as a short sale and the asking price was $110,000. This lot has been on the market for 264 days.

There have been only 7 lots that have been sold on the South Lake Tahoe mls so far this year. There were three lots that sold in the month of May, which was the most closings out of any month so far this year.  The average sales price of the lots sold this year was $128,367 and the median sales price was $90,000.

Here is a list of the lots in South Lake Tahoe that have sold so far this year.

1. 963 San Jose- Vacant 5,000 square foot lot. Sales price $70,000
2. 860 Nahane- Vacant 6,000 square foot lot. Sales price $60,000
3. 3708 Verdon- Vacant 11,892 square foot lot. Sales price $90,000
4. 1313 Knoll- Vacant 14,000 square foot lot with allocation. Sales price $400,000
5. 1069 San Diego- Vacant 10,300 square foot lot. Sales price $69,000
6. 1545 Arapahoe- Vacant 35,719 square foot lot. Sales price $109,500
7. 764 Elk Point- Vacant 11,761 square foot lot with allocation. Sales price $100,000

With the median sales price of lots in South Lake Tahoe now under $100,000, they are finally starting to sell again. Although permit costs are still the same, building costs, labor, and materials are down. There are a lot of quality contractors looking for work. Now may be one of best times to buy a lot and build your dream house in Lake Tahoe!

Make sure to keep up on the local South Lake Tahoe real estate market conditions by reading my South Lake Tahoe real estate blog!