Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 5/17/13
May 17, 2013
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.
Higher interest rates and low inventory is not affecting the homes sales on the Nevada East Shore of Lake Tahoe! To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between the number of available homes on the market and the pending sales. This past week the Market Activity Ratio showed that 28.8% of the available homes sales are now pending sales in escrow which is 1.1% higher than the previous week. This is the result of the number of available homes for sale increasing by 1 as the number of pending sales increased by 3. The distress sales (foreclosures and short sales) are no longer available for sale but it still represents 34.7% of the pending sales that have not yet closed.
There were 4 new sales completed this past week for a YTD total of 80 sales. One sale was a townhome on Quacking Aspen for $245,000 and the other three sales were homes on Cottonwood Dr for $299,000, The Back Rd for $2,800,000 and Glenbrook Inn for $3,100,000. The high end sales had sharply increased the 6 month average sales price by 10.5% to $1,189,458. The average days on market are 191 days.
South Lake Tahoe Weekly Real Estate Market Update for 5/17/13
May 17, 2013
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.
Home sales in South Lake Tahoe seem to have fallen off a little which could be more of a reflection on the lack of inventory. Interest rates are on the rise which could impact buyer decisions as well. To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between the number of homes available on the market and the pending sales. This past week the Market Activity Ratio showed that 40.9% of the available homes for sale are now pending sales in escrow which is 1.8% lower than the previous week. This is the result of the available homes on the market increasing by 4 as the pending sales decreased by 6. The distress sales (short sales and bank owned foreclosures) are impacting the market far less than the previous year as it now only represents 4.2% of the available homes on the market and 24.6% of the pending sale.
This past week there were 19 completed sales transactions for a YTD total of 228 sales. The sales ranged from a low of $140,000 to a high of $1,700,000. The majority of the sales were under $375,000. The top three sales were on Kokanee Way for $772,500, Lucerne Way for $775,000 and White Sands Dr for $1,700,000. Despite the high end sales the 6 month average sales price did drop by 3.6% to $362,073. The average days on market are 140 days.
Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 5/10/13
May 10, 2013
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.
The buyers are showing an unquenchable thirst for the high end homes on the Nevada east shore of Lake Tahoe. To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available on the market and the pending sales. This past week the Market Activity Ratio is now showing that 27.7% of the available homes are now pending sales which is up by 1.2%. This is the result of the number of homes available on the market increasing by 5 as the pending sales increased by 1. The distress sales (short sales and bank owned foreclosures) are not impacting the market much as it now only represents 1.7% of the available inventory and 32.6% of the pending sales.
This past week there were 7 new sales for a YTD total of 76 sales. The sales ranged from a low of $234,125 to a high of $4,150,000. The top three sales were on Lincoln Hwy for $1,150,000, Hidden Woods for $2,750,000 and Yellow Jacket for $4,150,000. This had increased the 6 month average sales price by 3.7% to $1,076,903. The average days on market are 199 days.
South Lake Tahoe Weekly Real Estate Market Update for 5/10/13
May 10, 2013
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.
Good news for Buyers! We are finally seeing a rise in the inventory this past week with South Lake Tahoe homes for sale! To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available for sale and the pending sales. This past week the Market Activity Ratio showed that 42.7% of the homes on the market are now pending sales which is slightly down from the previous week by 1%. This is the result of the number of available homes for sale increasing by 13 as the pending sales increased by 5. The distress sales (short sales and bank owned foreclosures) are continue to have a low impact on the market is it now only represents 5% of the available homes for sale and 24.2% of the pending sales.
This past week there were 12 new sales for a YTD total of 209 sales. The sales ranged from a low of $105,000 to a high of $772,500. Most of the sales were above $305,000. The top three sales were on Lamor Ct for $430,000, Wagon Train Tr for $450,000 and Kokanee Way for $772,500. This had increased the 6 month average sales price by .3% to $375,488. The average days on market are 145 days.
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U.S. Patent 6,910,045
Area Market Survey
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Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 5/3/13
May 3, 2013
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 Stateline, Nevada real estate market is showing just a little dip in sales this past week. To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available on the market and the pending sales. This past week the Market Activity Ratio had decreased by 2% and it’s now showing that 26.5% of the available homes for sale are now pending sales in escrow. This is the result of the number of available homes for sale decreasing by 1 as the pending sales decreased by 4. The distress sales (short sales and bank owned foreclosures) are impacting the market very little as it now represents 2.4% of the available homes for sale and 26.7% of the pending sales.
This past week there were 5 new sales for a YTD total of 69 sales. The sales ranged from a low of $172,000 to a high of $4,000,000. The top three sales were a couple townhomes on Quaking Aspen for 279,000, Angora Ct for $287,000 and a Lake Front Home on Skyland Ct for $4,000,000. This had decreased the 6 month average sales price by 2.4% to $1,131,561. The average days on market are 200 days.
