South Lake Tahoe Weekly Real Estate Market Update for 5/17/13
May 17, 2013
As of 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.
Home sales in South Lake Tahoe seem to have fallen off a little which could be more of a reflection on the lack of inventory. Interest rates are on the rise which could impact buyer decisions as well. To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between the number of homes available on the market and the pending sales. This past week the Market Activity Ratio showed that 40.9% of the available homes for sale are now pending sales in escrow which is 1.8% lower than the previous week. This is the result of the available homes on the market increasing by 4 as the pending sales decreased by 6. The distress sales (short sales and bank owned foreclosures) are impacting the market far less than the previous year as it now only represents 4.2% of the available homes on the market and 24.6% of the pending sale.
This past week there were 19 completed sales transactions for a YTD total of 228 sales. The sales ranged from a low of $140,000 to a high of $1,700,000. The majority of the sales were under $375,000. The top three sales were on Kokanee Way for $772,500, Lucerne Way for $775,000 and White Sands Dr for $1,700,000. Despite the high end sales the 6 month average sales price did drop by 3.6% to $362,073. The average days on market are 140 days.
South Lake Tahoe Weekly Real Estate Market Update for 5/10/13
May 10, 2013
As of 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.
Good news for Buyers! We are finally seeing a rise in the inventory this past week with South Lake Tahoe homes for sale! To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available for sale and the pending sales. This past week the Market Activity Ratio showed that 42.7% of the homes on the market are now pending sales which is slightly down from the previous week by 1%. This is the result of the number of available homes for sale increasing by 13 as the pending sales increased by 5. The distress sales (short sales and bank owned foreclosures) are continue to have a low impact on the market is it now only represents 5% of the available homes for sale and 24.2% of the pending sales.
This past week there were 12 new sales for a YTD total of 209 sales. The sales ranged from a low of $105,000 to a high of $772,500. Most of the sales were above $305,000. The top three sales were on Lamor Ct for $430,000, Wagon Train Tr for $450,000 and Kokanee Way for $772,500. This had increased the 6 month average sales price by .3% to $375,488. The average days on market are 145 days.
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Copyright ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Area Market Survey
Summary
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South Lake Tahoe Real Estate Market Update for 5/3/13
May 3, 2013
As of 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 South Lake Tahoe real estate sales continue to show consistency with both the supply and demand. To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between the number of homes available on the market and the pending sales. This past week the Market Activity Ratio showed us that 43.7% of the available homes on the market are now pending sales in escrow which is an increase of .9% from the previous week. This is due to the number of available homes decreasing by 3 as the Pending sales increased by 2. The distress sales (short sales and bank owned foreclosures) are impacting the market very little as it now only represents 4.7% of the available homes for sale and 24.3% of the pending sales in escrow.
This past week there were 14 new sales for a YTD total of 197 sales. The sales ranged from a low of $236,000 and a high of $1,760,000. Half of the sales were above $400,000 with the top three sales on Herbert Ave for $690,000, Alice Lake Rd for $707,500 and White Sands Dr for $1,760,000. This had increased the 6 month average sales price by 1.7% to $374,386. The average days on market are 144 days.
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Area Market Survey
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Copyright ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Area Market Survey
Summary
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South Lake Tahoe Weekly Real Estate Market Update for 4/26/13
April 26, 2013
As of 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.
Pending homes sales in South Lake Tahoe are back up after a dip from the previous week and the inventory is still flat! To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of available homes for sale and the pending sales. This past week the Market Activity Ratio had increased by 2% and it is now showing that 42.8% of the available homes for sale are now pending sales in escrow. The number of homes available for sale is down by 5 as the pending sales increased by 13. The distress sales (short sales and bank owned foreclosures)are now only represents 6% of the available homes for sales and 23.9% of the pending sales.
There were 11 new sales this past week for a YTD total of 183 sales. The sales ranged from a low of $158,000 to a high of $690,000. Half of the sales were above $400,000 with the top three sales on Kickapoo for $510,000, Marconi Way for $685,000 and Herbert Ave for $690,000. This was enough to increase the 6 month average sales price by .6% to $368,044. The average days on market are 145 days.
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Copyright ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Area Market Survey
Summary
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South Lake Tahoe Weekly Real Estate Market Update 4/18/13
April 18, 2013
As of 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.
There is a noticeable lag in new escrows opening after a sharp spike in prices within the last 3 months. To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available on the market and the pending sales. This past week the market activity ratio had showed us that 39.1% of the homes available are now pending sales in escrow. This is a drop from 42.6% just 2 weeks ago. This is the result of the number of homes available on the market increasing by 5 as the pending sales decreased by 12. The distress sales (short sales and bank owned foreclosures) now only represents 6.4% of the available homes for sale and 26% of the pending sales.
There were 22 sales this past week for a total of 172 sales YTD. The sales ranged from a low of $145,000 to a high of $655,000. The top three sales were on Divot Ct for $550,000, Cathedral Ct for $615,000 and Christie Dr for $655,000. This had significantly increased the 6 month average sales price by 1.7% to $365,735. The average days on market are 142 days.
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Copyright ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
Area Market Survey
Summary
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