Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 6/15/12

June 15, 2012

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 buyer demand is remaining consistent as the number of distress sales available on the market continue to diminish.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pendind sales.  This past week the Market Activity Ratio had slightly dropped from 17.3% to 17.1%.  This is the result of the Active listings increasing by 4 as the Pending sales remained the same.  The distress sales continue to impact the market as it now represents only 3.5% if the available inventory yet 71.4% of the Pending sales.

This past week there were 4 new sales for a YTD total of 60 sales.  These sales were a condo on Tina Ct for $150,000, condo on Lake Village Dr for $351,645, Elk Point for $310,000 and Kent Way for $415,000.  This decreased the 6 month average sales price by .5% to $569,697.  The average days on market are 204 days.

 

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