Lake Tahoe Weekly Real Estate Market Update 8/26/11

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.  

 Nevada’s activity fell of slightly.  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 decreased from 11.3% to 11%.  This was the result of the Active listings decreasing by 1 as the Pending sales decreased by 1.  The distress sales (short sales and bank owned) continue to impact the market with 9.4% of the active inventory and 44% of the Pending sales. 

This past week was huge with 5 new sales for a YTD of 79 sales.  These sales were on Easy Street for $450,000, two on Holly Ln for $399K and $390K, Freel for $349,900 and on Foothill for $425,000.  This decreased the 6 month average sales price by 20.7% to $975,761.  The average days on market are 241 days.

Lake Tahoe Nevada Bank Owned Foreclosures as of January 21st, 2012

Click Here to view a current list of NV Banked Owned properties.