Lake Tahoe Weekly Real Estate Market Update for East Shore in Nevada 4/27/12

April 27, 2012

What you are looking at below are charts and numbers derived from the Northern Nevada Regional Multiple Listing Service for Single Family Homes and Condos for the East Shore. I just started tracking condos with homes as of October 28th, 2009 which will be give different results from previous market reports. The reason that I use this segment of the market is that it has the most influence on the general value trends.

The Nevada market isn’t experiencing the rush of buyers as most homes are priced above $350,000.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had dipped from 19.1% to 18.7% of the inventory which are pending sales.  This is the result of the number of Active listings remaining the same as the Pending sales decreased by 1.  The distress sales (Short sales and Bank Owned Foreclosures) now represents 8.9% of the available inventory and 61.1% of the Pending sales.

There were 3 new sales this past week for a YTD total of 36 sales.  The sales were on Kingsbury Grade for $262,500, The Back Rd in Glenbrook for $1,293,500 and Old Highway 50 for $887,000.  This increased the 6 month average sales price by 7.7% to $586,702.  The average days on market are 185 days.

South Lake Tahoe Weekly Real Estate Market Update 4/26/12

April 27, 2012

As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.

There are signs that the local market is turning!  Low inventory and increase buyer demand for homes under $300,000 is creating a very competitive market for buyers.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had increased from 34.3% to 36.9% of the total inventory is now pending in escrow. This is the result of the Active listings decreasing by 7 as the Pending sales increased by 12.  The distress sales (Short sales and Bank Owned Foreclosures) now represents 19.6% of the available inventory and 61% of the pending sales. 

This past week there were 11 new sales for a YTD total of 175 sales.  These sales ranged from a low of $35,000 to a not so high $332,000.  Despite the low sales, the 6 month average managed to creep up by .1% to $305,634.  The average days on market are 161 days.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

 

Area Market Survey
Summary

Listings as of 04/27/12 at 8:35am
Active
Listing Price Range Quantity Average DOM
$50,000 thru $59,999 1 224
$70,000 thru $79,999 1 3
$80,000 thru $89,999 1 4
$90,000 thru $99,999 1 258
$100,000 thru $119,999 4 265
$120,000 thru $139,999 7 111
$140,000 thru $159,999 7 107
$160,000 thru $179,999 10 324
$180,000 thru $199,999 12 70
$200,000 thru $249,999 22 180
$250,000 thru $299,999 32 205
$300,000 thru $349,999 20 130
$350,000 thru $399,999 21 112
$400,000 thru $449,999 10 246
$450,000 thru $499,999 19 272
$500,000 thru $549,999 11 174
$550,000 thru $599,999 14 262
$600,000 thru $649,999 6 63
$650,000 thru $699,999 11 81
$700,000 thru $749,999 1 350
$800,000 thru $849,999 4 179
$850,000 thru $899,999 7 162
$950,000 thru $999,999 3 517
$1,250,000 thru $1,499,999 10 286
$1,500,000 thru $1,749,999 1 217
$1,750,000 thru $1,999,999 1 753
$2,000,000 thru $2,249,999 3 530
$2,250,000 thru $2,499,999 1 758
$2,500,000 thru $2,749,999 2 758
$2,750,000 thru $2,999,999 2 43
$3,250,000 thru $3,499,999 1 212
$4,250,000 thru $4,499,999 1 475
$10,000,000 or More 1 842
  248 202
 
Summary Price Information
Minimum $55,000 Maximum $12,900,000
Average $584,050 Median $361,450
Pending
Listing Price Range Quantity Average DOM
$60,000 thru $69,999 1 285
$90,000 thru $99,999 2 95
$100,000 thru $119,999 4 90
$120,000 thru $139,999 7 124
$140,000 thru $159,999 12 92
$160,000 thru $179,999 14 153
$180,000 thru $199,999 12 194
$200,000 thru $249,999 24 119
$250,000 thru $299,999 14 205
$300,000 thru $349,999 10 145
$350,000 thru $399,999 13 137
$400,000 thru $449,999 9 162
$450,000 thru $499,999 7 116
$500,000 thru $549,999 2 187
$550,000 thru $599,999 3 291
$600,000 thru $649,999 3 198
$750,000 thru $799,999 1 359
$850,000 thru $899,999 1 49
$900,000 thru $949,999 2 406
$1,000,000 thru $1,249,999 1 167
$1,250,000 thru $1,499,999 1 234
$1,500,000 thru $1,749,999 2 77
$3,250,000 thru $3,499,999 1 448
  146 154
 
Summary Price Information
Minimum $60,000 Maximum $3,395,000
Average $344,251 Median $247,000
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 ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Lake Tahoe Weekly Real Estate Market Update for East Shore Nevada 4/20/12

April 20, 2012

What you are looking at below are charts and numbers derived from the Northern Nevada Regional Multiple Listing Service for Single Family Homes and Condos for the East Shore. I just started tracking condos with homes as of October 28th, 2009 which will be give different results from previous market reports. The reason that I use this segment of the market is that it has the most influence on the general value trends.

Buyers are finding it hard to find the incredible values as the available distress sales remain low.  to measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had slightly decreased from 19.6% to 19.1%.  As limited as it is the distress sales continue to be the focus with most buyers although it only represents 7.6% of the available inventory and 62.2% of pending sales.

This past week there were 2 new sales for a YTD total of 33 sales.  The sales were on Highway 50 for $240,000 and Power House Rd in Glenbrook for $1,950,000.  This pushed the 6 month averages sales price up by 4.1% to $544,698.  The average days on market are 183 days.

South Lake Tahoe Weekly Real Estate Market Update 4/20/12

April 20, 2012

As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.

Inventories are down nationwide and South Lake Tahoe is no exception.  This is the result of less foreclosures replenishing the market as the buying demand remains constant.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had remained unchanged with 34.3% of the inventory pending in escrow.  This is the result of the Active listings increasing by 6 as the Pending sales increased by 3.  The distress sales (short sales and bank owned foreclosures) continues to impact the market as it now represents 19.1% of the Available inventory and 66.4% of the Pending sales.

This past week there were 16 new sales for a YTD of 164 sales.  The sales ranged from a low of $150,000 to a high of $1,385,000.  Even though most of the sales were below $350,000 there were 5 sales above that.  These sales were on Crystal Air Dr for $482,000, Jacarillo Tr for $550,000, Aloha Rd for $641,000, Balboa in the Tahoe Keys for $925,000 and Aloha Dr for $1,385,000.  This increased the 6 month average sales price by 2.8% to $305,235.  The average days on market are 160 days. 

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 04/20/12 at 8:32am
Active
Listing Price Range Quantity Average DOM
$50,000 thru $59,999 1 217
$100,000 thru $119,999 4 258
$120,000 thru $139,999 6 124
$140,000 thru $159,999 10 116
$160,000 thru $179,999 12 272
$180,000 thru $199,999 11 37
$200,000 thru $249,999 25 163
$250,000 thru $299,999 36 212
$300,000 thru $349,999 18 141
$350,000 thru $399,999 22 120
$400,000 thru $449,999 8 293
$450,000 thru $499,999 23 265
$500,000 thru $549,999 11 187
$550,000 thru $599,999 13 273
$600,000 thru $649,999 8 75
$650,000 thru $699,999 9 91
$700,000 thru $749,999 1 343
$800,000 thru $849,999 3 231
$850,000 thru $899,999 8 189
$950,000 thru $999,999 3 510
$1,250,000 thru $1,499,999 11 274
$1,500,000 thru $1,749,999 2 609
$1,750,000 thru $1,999,999 1 746
$2,000,000 thru $2,249,999 3 523
$2,250,000 thru $2,499,999 1 751
$2,500,000 thru $2,749,999 2 751
$2,750,000 thru $2,999,999 2 36
$3,250,000 thru $3,499,999 1 205
$4,250,000 thru $4,499,999 1 468
$10,000,000 or More 1 835
  257 209
 
Summary Price Information
Minimum $55,000 Maximum $12,900,000
Average $583,405 Median $359,900
Pending
Listing Price Range Quantity Average DOM
$50,000 thru $59,999 1 175
$60,000 thru $69,999 1 278
$90,000 thru $99,999 4 162
$100,000 thru $119,999 5 79
$120,000 thru $139,999 6 136
$140,000 thru $159,999 10 109
$160,000 thru $179,999 13 172
$180,000 thru $199,999 13 180
$200,000 thru $249,999 23 130
$250,000 thru $299,999 9 167
$300,000 thru $349,999 13 135
$350,000 thru $399,999 11 143
$400,000 thru $449,999 6 119
$450,000 thru $499,999 5 151
$500,000 thru $549,999 1 143
$550,000 thru $599,999 3 284
$600,000 thru $649,999 2 160
$750,000 thru $799,999 1 352
$850,000 thru $899,999 1 42
$900,000 thru $949,999 2 399
$1,000,000 thru $1,249,999 1 160
$1,500,000 thru $1,749,999 2 70
$3,250,000 thru $3,499,999 1 441
  134 153
 
Summary Price Information
Minimum $59,000 Maximum $3,395,000
Average $328,649 Median $234,450
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 ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
 

Area Market Survey
Summary

Listings as of 04/20/12 at 8:32am
Sold
Selling Price Range Quantity Average DOM
$40,000 thru $49,999 2 145
$50,000 thru $59,999 2 149
$70,000 thru $79,999 1 41
$80,000 thru $89,999 2 88
$90,000 thru $99,999 5 180
$100,000 thru $119,999 12 189
$120,000 thru $139,999 23 132
$140,000 thru $159,999 22 146
$160,000 thru $179,999 27 158
$180,000 thru $199,999 20 150
$200,000 thru $249,999 51 156
$250,000 thru $299,999 28 152
$300,000 thru $349,999 24 140
$350,000 thru $399,999 21 150
$400,000 thru $449,999 19 164
$450,000 thru $499,999 10 202
$500,000 thru $549,999 8 221
$550,000 thru $599,999 6 98
$600,000 thru $649,999 5 370
$650,000 thru $699,999 3 189
$700,000 thru $749,999 2 118
$750,000 thru $799,999 2 241
$800,000 thru $849,999 1 161
$900,000 thru $949,999 1 217
$950,000 thru $999,999 1 199
$1,000,000 thru $1,249,999 2 161
$1,250,000 thru $1,499,999 2 199
$2,500,000 thru $2,749,999 2 212
  304 160
 
Summary Price Information
Minimum $45,000 Maximum $2,720,000
Average $305,235 Median $229,400
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 ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Lake Tahoe Weekly Real Estate Market Update for East Shore Nevada 4/13/12

April 13, 2012

What you are looking at below are charts and numbers derived from the Northern Nevada Regional Multiple Listing Service for Single Family Homes and Condos for the East Shore. I just started tracking condos with homes as of October 28th, 2009 which will be give different results from previous market reports. The reason that I use this segment of the market is that it has the most influence on the general value trends.

An increase in activity is keeping inventory low!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had increased from 17.6% to 19.6%.  This is the result of the Active listings decreasing by 3 as the Pending sales increased by 4.  The distress sales (Short sales and Bank Owned Foreclosures)continue to impact the market as it now represents 7.7% of the Active listings and 65.8% of the Pending sales.

This past week there were no new sales and the YTD total remains at 31 sales.  The 6 month average sales price did shift by 1.4% upward to $523,238.  The average days on market are 185 days.

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