Lake Tahoe Weekly Real Estate Market Statistics For East Shore Nevada
July 29, 2010
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.
There is a rise in the Buyer activity on the Nevada side of Lake Tahoe. To track the most current Buyer activity, I like to use the Market Activity Ratio which is the relationship between Active listings and Pending Sales. This past week we saw the Buyer activity increase from 10.3% to 12.3%. This is a result of the Active Listings decreasing by 1 as the Pending Sales increased by 5. The number of short sales in escrow remains the same at 11. It is also interesting to note that the foreclosure shadow inventory is now trickling on the market. The number of Bank Owned properties is now at 6 which is higher than the average of 4. This will continue to put downward pressure on pricing. The buyers may be disappointed to see that the prices will not drop off a cliff as it did in the previous years rather it will be a smaller adjustment. The largest adjustments are still being seen in the higher price brackets above $500,000.
There was 1 new sale for a YTD of 67 sales. This sale was a lake view home in Zephyr Heights and it sold for $650,000. This did increase the 6 month Average Sales price by .7% to $740,381. The average days on market are 250 days.
| Status | Class | Type | Area | No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM |
|---|---|---|---|---|---|---|---|---|
| Active Listings | 184 | $106,825,907 | $580,576 | $499,900 | 206 | |||
| Listings Under Contract | 4 | $2,154,800 | $538,700 | $514,950 | 68 | |||
| Listings Sold 2010 | 62 | $30,238,350 | $487,715 | $447,625 | 215 | |||
| ACTIVE | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 31 | $9,298,650 | $299,956 | $259,900 | 306 | |||
| Upper Kingsbury | 10 | $5,395,400 | $539,540 | $542,500 | 148 | |||
| Mid Kingsbury | 16 | $10,102,400 | $631,400 | $558,500 | 104 | |||
| Lower Kingsbury | 3 | $2,593,000 | $864,333 | $959,000 | 199 | |||
| Kahle Park | 1 | $354,999 | $354,999 | $354,999 | 84 | |||
| Lake Village | 16 | $7,059,500 | $441,219 | $417,500 | 124 | |||
| Round Hill | 16 | $10,276,499 | $642,281 | $637,500 | 243 | |||
| Pinewild/Marla | 10 | $7,507,000 | $750,700 | $622,000 | 163 | |||
| Zephyr Heights/Knolls | 16 | $13,536,000 | $846,000 | $719,000 | 158 | |||
| Zephyr Cove | 1 | $1,100,000 | $1,100,000 | $1,100,000 | 385 | |||
| Skyland/Tall Pn/Snug Harbor | 8 | $6,258,000 | $782,250 | $647,000 | 206 | |||
| Hidden Woods | 2 | $1,925,000 | $962,500 | $962,500 | 327 | |||
| Upper & Lower Lakeridge - LT | 4 | $3,618,999 | $904,750 | $924,500 | 382 | |||
| Cave Rock | 7 | $3,677,000 | $525,286 | $372,000 | 122 | |||
| Glenbrk/Uppaway | 6 | $7,627,000 | $1,271,167 | $1,292,000 | 190 | |||
| Sub Total | 147 | $90,329,447 | $614,486 | $588,000 | 201 | |||
| New | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 2 | $354,000 | $177,000 | $177,000 | 3 | |||
| Upper Kingsbury | 2 | $1,095,510 | $547,755 | $547,755 | 4 | |||
| Round Hill | 1 | $550,000 | $550,000 | $550,000 | 3 | |||
| Zephyr Heights/Knolls | 1 | $172,900 | $172,900 | $172,900 | 126 | |||
| Logan/Cedarbrok | 1 | $782,900 | $782,900 | $782,900 | 5 | |||
| Sub Total | 7 | $2,955,310 | $422,187 | $345,510 | 21 | |||
| Extended | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 2 | $298,650 | $149,325 | $149,325 | 712 | |||
| Upper Kingsbury | 1 | $1,195,000 | $1,195,000 | $1,195,000 | 72 | |||
| Sub Total | 3 | $1,493,650 | $497,883 | $169,500 | 498 | |||
| Price Reduced | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 1 | $187,500 | $187,500 | $187,500 | 69 | |||
| Kahle Park | 1 | $230,000 | $230,000 | $230,000 | 516 | |||
| Zephyr Heights/Knolls | 1 | $345,000 | $345,000 | $345,000 | 41 | |||
| Zephyr Cove | 1 | $499,900 | $499,900 | $499,900 | 99 | |||
| Sub Total | 4 | $1,262,400 | $315,600 | $287,500 | 181 | |||
| Active/Pending-Call | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 4 | $1,528,900 | $382,225 | $432,000 | 272 | |||
| Mid Kingsbury | 1 | $1,095,000 | $1,095,000 | $1,095,000 | 35 | |||
| Lower Kingsbury | 2 | $498,500 | $249,250 | $249,250 | 180 | |||
| Round Hill | 1 | $499,900 | $499,900 | $499,900 | 36 | |||
| Skyland/Tall Pn/Snug Harbor | 1 | $995,000 | $995,000 | $995,000 | 746 | |||
| Sub Total | 9 | $4,617,300 | $513,033 | $499,900 | 251 | |||
| Active/Pending-Loan | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 2 | $604,000 | $302,000 | $302,000 | 136 | |||
| Upper Kingsbury | 1 | $399,000 | $399,000 | $399,000 | 54 | |||
| Mid Kingsbury | 1 | $1,095,000 | $1,095,000 | $1,095,000 | 117 | |||
| Pinewild/Marla | 1 | $450,000 | $450,000 | $450,000 | 215 | |||
| Sub Total | 5 | $2,548,000 | $509,600 | $399,000 | 132 | |||
| Active/Pending-Short Sale | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 3 | $502,400 | $167,467 | $122,500 | 162 | |||
| Lower Kingsbury | 1 | $485,000 | $485,000 | $485,000 | 7 | |||
| Lake Village | 2 | $599,400 | $299,700 | $299,700 | 724 | |||
| Round Hill | 1 | $249,000 | $249,000 | $249,000 | 53 | |||
| Zephyr Heights/Knolls | 1 | $419,000 | $419,000 | $419,000 | 600 | |||
| Cave Rock | 1 | $1,365,000 | $1,365,000 | $1,365,000 | 428 | |||
| Sub Total | 9 | $3,619,800 | $402,200 | $270,000 | 336 | |||
| SOLD | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 10 | $2,029,500 | $202,950 | $184,500 | 247 | |||
| Upper Kingsbury | 9 | $3,380,800 | $375,644 | $395,000 | 134 | |||
| Mid Kingsbury | 6 | $2,685,000 | $447,500 | $453,000 | 187 | |||
| Lower Kingsbury | 2 | $786,000 | $393,000 | $393,000 | 93 | |||
| Lincoln Park | 1 | $450,000 | $450,000 | $450,000 | 174 | |||
| Lake Village | 7 | $1,823,400 | $260,486 | $265,000 | 105 | |||
| Round Hill | 6 | $3,525,250 | $587,542 | $447,625 | 126 | |||
| Pinewild/Marla | 1 | $475,000 | $475,000 | $475,000 | 401 | |||
| Zephyr Heights/Knolls | 7 | $4,809,000 | $687,000 | $725,000 | 347 | |||
| Zephyr Cove | 1 | $730,000 | $730,000 | $730,000 | 939 | |||
| Skyland/Tall Pn/Snug Harbor | 4 | $2,200,900 | $550,225 | $565,000 | 73 | |||
| Upper & Lower Lakeridge - LT | 4 | $3,386,000 | $846,500 | $808,000 | 235 | |||
| Cave Rock | 1 | $372,500 | $372,500 | $372,500 | 59 | |||
| Logan/Cedarbrok | 1 | $1,060,000 | $1,060,000 | $1,060,000 | 957 | |||
| Glenbrk/Uppaway | 2 | $2,525,000 | $1,262,500 | $1,262,500 | 344 | |||
| Sub Total | 62 | $30,238,350 | $487,715 | $447,625 | 215 | |||
| PENDING-No Show | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| Summit/Tahoe VL | 1 | $775,900 | $775,900 | $775,900 | 53 | |||
| Lake Village | 1 | $349,000 | $349,000 | $349,000 | 96 | |||
| Round Hill | 1 | $529,900 | $529,900 | $529,900 | 69 | |||
| Glenbrk/Uppaway | 1 | $500,000 | $500,000 | $500,000 | 54 | |||
| Sub Total | 4 | $2,154,800 | $538,700 | $514,950 | 68 | |||
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