November 8th, 2008 Weekly Statistics

Area Market Survey

Listings as of 11/08/08 at 12:24pm

Pending Listing Price Range  Quantity      Average DOM   $200,000 thru $249,999 5 61   $250,000 thru $299,999 7 154   $300,000 thru $349,999 10 148   $350,000 thru $399,999 3 197   $400,000 thru $449,999 8 287   $450,000 thru $499,999 2 82   $500,000 thru $549,999 4 457   $550,000 thru $599,999 2 89   $600,000 thru $649,999 3 378   $650,000 thru $699,999 1 17   $750,000 thru $799,999 3 236   $800,000 thru $849,999 3 257   $850,000 thru $899,999 1 437   $950,000 thru $999,999 3 303   $1,000,000 thru $1,249,999 1 44   $1,750,000 thru $1,999,999 1 220     57 213

Summary Price Information Minimum  $229,000 Maximum  $1,890,000 Average  $521,940 Median  $429,000

Equal Opportunity Housing * All information deemed reliable, but not guaranteed.

Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved.

Area Market Survey

Listings as of 11/08/08 at 12:25pm

Active Listing Price Range  Quantity      Average DOM   $160,000 thru $179,999 2 168   $180,000 thru $199,999 3 35   $200,000 thru $249,999 8 100   $250,000 thru $299,999 25 190   $300,000 thru $349,999 36 119   $350,000 thru $399,999 55 150   $400,000 thru $449,999 36 151   $450,000 thru $499,999 33 204   $500,000 thru $549,999 17 237   $550,000 thru $599,999 26 212   $600,000 thru $649,999 15 235   $650,000 thru $699,999 26 140   $700,000 thru $749,999 10 141   $750,000 thru $799,999 12 125   $800,000 thru $849,999 7 140   $850,000 thru $899,999 17 288   $900,000 thru $949,999 6 153   $950,000 thru $999,999 15 204   $1,000,000 thru $1,249,999 15 201   $1,250,000 thru $1,499,999 15 224   $1,500,000 thru $1,749,999 10 234   $1,750,000 thru $1,999,999 4 201   $2,000,000 thru $2,249,999 3 353   $2,250,000 thru $2,499,999 3 126   $2,500,000 thru $2,749,999 3 50   $2,750,000 thru $2,999,999 1 671   $3,000,000 thru $3,249,999 1 58   $3,250,000 thru $3,499,999 1 171   $3,750,000 thru $3,999,999 1 150   $5,000,000 thru $5,999,999 1 102   $7,000,000 thru $7,999,999 2 510     409 180

Summary Price Information Minimum  $169,000 Maximum  $7,950,000 Average  $735,137 Median  $529,000

Equal Opportunity Housing * All information deemed reliable, but not guaranteed.

Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved.

 

 

The statistics above were generated by the South Tahoe Association Of Realtors Multiple Listing Service (MLS) as of November 8th, 2008.  The numbers are based on a search of single family homes in South Lake Tahoe, CA. area.  You’ll noticed that it is all formatted by a price band. 

By looking at the Chart of Active Listings, you will be able to see the number of homes that are actively listed on the market by price band.  The total number of active homes as of this date is 409 single family homes.

By looking at the chart with Pending Sales, you will be able to see the number of homes that are in escrow as of this date.  Again it is formatted by a price band.  The total of number of escrows is 57. 

What is the relevance?  Well, if you track these statistics on a weekly basis you will begin to notice a pattern.  There are price bands that sell better and others with inventory sitting longer on the market.  I like to divide the pending sales by the active sales to give me a percentage of the market movement which currently represents about 12.2%.  When I compare this to last year at this time, I have noticed that the market is more active this year than last year which was about 8%.  The number of Active listings was at 427 and the pendings were at 38. 

The charts will also show you the average Days On Market (DOM) which could indicate the length of time homes have been sitting on the market before selling.  Last year at this time the Active listings averaged 146 days and the Pendings averaged 199 days.  Homes are sitting longer on the market this year which could indicate that there is an overlap of inventory from the previous year whereas the previous year did not experience a similiar overlap.

In conclusion our market seems to be declining from the peak as of September and October sales which is based on previous weekly statistics.  It is typical to see sales drop off for this time of year.  The overall significance is that we are seeing a market trend that is showing signs of more life than a year ago.  For questions or comments, please post it here on the site or call me anytime at the office 800-776-2120.

Lake Tahoe 3rd Quarter Real Estate Sales Statistics

Please click on the green link below to view Third Quarter statistics for the year 2008, 2008thirdquarterstatstahoe .

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