April 23, 2013
We did see a sharp rise in prices this past quarter as the supply decreased and the demand remained high. The foreclosures and short sales that supplied the market had abruptly slowed down to a trickle thus creating a supply shortage. The statistics for Lake Tahoe home sales show that the number of units sold is down. However the sales volume is up which reflects higher home prices and homes sold in higher price brackets. To view the stats click on the link, Lakewide 1st Quarter.
November 4, 2012
If you are wondering if the market is turning, this may give you the information that you are looking for. Please click the link for the statistics 2012 3rd Quarter Stats LT TOTALS. What it shows is that the sales volume and sales units are up. It also shows that the Median and Average sales prices are down which is a comparison to the same quarter of the previous year. If you compare this with the 2nd quarter statistics, 2012 Mid-Year Stats LT TOTALS you’ll notice that the Median and Average sales price are much lower for the 2nd quarter than the 3 rd quarter.
What it doesn’t show is the rise in prices from the bottom of the market nor the scarcity of inventory and declining months supply of homes on the market. If you take the difference of the two quarters, that will give you the difference of the Median and Average sales prices which shows a positive trend up. This is a tell tale for the 4th quarter or year end statistics. At the end of the 4th quarter, it should reveal a higher Median and Average sales price whicch we are currently experiencing. There has been a bounce up in prices. To believe it, you’ll have to try and buy a house now or wait for the year end statistics. To buy at the bottom of the market, you have to be prepared to compete against other bidders. Finding a desirable property is very competitive.
For fast facts in the real estate market place of South Lake Tahoe, go to my home page and find the media player www.HotWireToTahoe.com. Listen to my interview with two of Chase International’s top brokers, Larry Finkel and Sue Lowe. The interview was done on KTHO radio on November 2nd. They describe the real estate market conditions as they are now for both the South and East shore of Lake Tahoe.
April 8, 2011
Click on the link for charts, 2011 1stQ Stats LT TOTALS
October 12, 2010
Please click on the link for information 2010-third-quarter-stats-lt
April 7, 2010
Please click on the link, 2010-first-quarter-stats-lt