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Commercail Appraisers

Lake Tahoe Weekly Real Estate Market Update For Nevada East Shore 6/10/11

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.

Compared to the California side, Nevada looks dormant but when the fish bite, they bite Big!  To measure the most current buyer activity, I use the Market Acitivity Ratio, which is the relationship between Active listings and Pending sales.  This past week the market activity ratio increased from 6.6% to 7.1%.  This is the result of the Active listings remaining the same as the Pending sales increased by 1.  The distress sales with short sales and foreclosures still are impacting the Nevada market as well.  The distress sales represent only 9.3% of the active inventory but its 64.3% of the pending sales.

There were 4 new sales for a YTD of 60 sales.  These sales were on Andria for $475,000, Cave Rock condo for $225,000, Skyland lake front for $5,250,000 and Glenbrook lake front for $9.4 million.  The fish in Nevada may not be biting much, but they are biting big.  This raised the 6 month average sales price by 23.4% to $985,010.  The average days on market are 243 days.

Tahoe’s Best Kept Secret

Within the first five years of living in South Lake Tahoe, I thought that I was familiar with all of the neighborhoods.  For years I would drive up and down the thoroughfare which is Hwy 50 but I never suspected that there was a very nice neighborhood hidden from view within the center of town.  Tucked in behind a couple blocks from the highway is a neighborhood called Highland Woods.  The subdivision is adjacent to a meadow with the lake as a back drop.  Some of the homes that back to the meadow have nice lake views.

To my surprise it had a nice, clean look to it.  Maybe it was because of it’s wide streets and underground utilities.  There also seems to be a better continuity to the style and condition of the homes as well.  Despite the highway being nearby, you wouldn’t know it.  It is quiet and serene.  You feel like you are in Tahoe yet you are close to everything that the city has to offer. 

If you are curious, I do have a listing on 923 Creekwood.  Just at the end of the street is the meadow in which neighbors walk their dogs or get their exercise.  I use to live in the neighborhood myself.  In the winter time, I would cross country ski through the meadow to the lake.  I felt like I was far from the city as I viewed the lake and mountains around me.  To check out my listing, please click here.  For more information email me Jim@HotWireToTahoe.com.

Forclosure List As Of April 18th, 2010

foreclosureradar_export2010-04-181to see the current list of Trustee Sales.

Tahoe Keys Statistics As Of April 18th, 2010

Listings per Status

Minimum, Average, Maximum

Days On Market Analysis

Listing Price\Selling Price

Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2010 Rapattoni Corporation. All rights reserved. Generated: 4/18/10 11:08am

Area Market Survey

Listings as of 04/18/10 at 11:08am

 

Active Listing Price Range  Quantity      Average DOM   $200,000 thru $249,999 1 65   $350,000 thru $399,999 5 52   $400,000 thru $449,999 2 38   $450,000 thru $499,999 8 202   $550,000 thru $599,999 5 105   $600,000 thru $649,999 5 133   $650,000 thru $699,999 5 248   $700,000 thru $749,999 6 112   $750,000 thru $799,999 3 48   $800,000 thru $849,999 1 3   $850,000 thru $899,999 3 17   $900,000 thru $949,999 2 154   $950,000 thru $999,999 4 270   $1,000,000 thru $1,249,999 4 91   $1,250,000 thru $1,499,999 1 47   $1,500,000 thru $1,749,999 2 141   $1,750,000 thru $1,999,999 2 87   $2,000,000 thru $2,249,999 1 531   $2,250,000 thru $2,499,999 1 76   $4,000,000 thru $4,249,999 2 81   $4,250,000 thru $4,499,999 1 628   $5,000,000 thru $5,999,999 1 1376     65 159

Summary Price Information Minimum  $247,000 Maximum  $5,495,000 Average  $1,049,331 Median  $715,000

 

Pending Listing Price Range  Quantity      Average DOM   $250,000 thru $299,999 1 35   $550,000 thru $599,999 1 426   $650,000 thru $699,999 3 51   $850,000 thru $899,999 2 77   $950,000 thru $999,999 1 709   $1,000,000 thru $1,249,999 1 548   $4,250,000 thru $4,499,999 1 219     10 225

Summary Price Information Minimum  $297,000 Maximum  $4,250,000 Average  $1,117,500 Median  $787,000

 

Equal Opportunity Housing * All information deemed reliable, but not guaranteed.

Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2010 Rapattoni Corporation. All rights reserved.

Area Market Survey

Listings as of 04/18/10 at 11:08am

 

Sold Selling Price Range  Quantity      Average DOM   $250,000 thru $299,999 2 50   $300,000 thru $349,999 1 74   $350,000 thru $399,999 2 220   $500,000 thru $549,999 1 187   $550,000 thru $599,999 2 74   $600,000 thru $649,999 1 63   $650,000 thru $699,999 1 91   $700,000 thru $749,999 1 69   $750,000 thru $799,999 1 304   $800,000 thru $849,999 1 393   $850,000 thru $899,999 1 439   $900,000 thru $949,999 1 440   $1,000,000 thru $1,249,999 1 127     16 180

Summary Price Information Minimum  $273,500 Maximum  $1,225,000 Average  $618,063 Median  $595,000

 

Equal Opportunity Housing * All information deemed reliable, but not guaranteed.

Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2010 Rapattoni Corporation. All rights reserved.

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