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.