South Lake Tahoe Weekly Real Estate Market Update for 12/30/11
December 30, 2011
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.
It’s a good ending to a good year for sales! 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 27.1% to 23.9%. This is the result of the Active listings increasing by 4 as the Pending sales decreased by 6. The distress sales (short sales and bank owned foreclosures) continue to impact the market it now represents 26.8% of the Active listings and 77.1% of the Pending sales.
There were 12 new sales this past week for a YTD of 582 sales. The sales ranged from $158,000 to $1,450,000. Most of the sales were below $375,000 with 4 sales above that. These sales were on Julie Ln for $475,000, Alice Lake Rd for $540,000, Emerald Dr for $719,000 and Ski Run Blvd for $1,450,000. Despite the higher sales, the 6 month average sales price decreased by 1.9% to $329,770. The average days on market are 150 days. Compared to 2010, the units sold has increased by approximately 3.6% or 20 more units sold. However, the values continue to drop. When you compare the 6 month average sales price the difference from a year ago is approximately 10%.
South Lake Tahoe Weekly Real Estate Market Update 12/16/11
December 16, 2011
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.
We are still lacking snow in Tahoe but the real estate sales remain strong! 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 has decreased from 38% to 27.1%. This is the result of the Active listings increasing by 2 as the Pending sales decreased by 2. The distress sales ( short sales and bank owned foreclosures) continue to impact our market which represents 27.8% of the Active inventory and 72.3% of the Pending inventory.
This past week there were 12 new sales for a YTD total of 552 sales. These sales ranged from $124,600 to $600,000. Half of the sales were above $400,000 which were on Colusa for $414,000, Marconi Way for $445,000, Wedeln Ct for $455,000, Sierra House Tr for $525,000, Oglala for $560,000 and Sherman Way for $600,000. This helped to maintain the 6 month average sales price which decreased slightly by .1% to $336,125. The average days on market are 156 days.
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South Lake Tahoe Weekly Real Estate Market Update 12/9/11
December 9, 2011
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 lack of snow may not be good for the ski resorts but it’s golden for the real estate sales. To measure the most current buyer activity, I use the Marke Activity Ratio which is the relationship between Active listings and Pending sales. This past week the market activity ratio increased from 27.2% to 38%. I have not seen the ratio go beyond 30% since I started tracking it since the market boom. This is the result of the Active listings decreasing by 12 as the Pending sales decreased by 4. There are 46 less homes for sale than last year at this time. The distress sales (short sales and bank owned foreclosures) continue to impact our market as it represents 26% of the active inventory and 71.9% of the pending sales.
This past week there were 15 new sales for a YTD of 540. These sales ranged from as low as $110,000 to as high as $1,100,000. Most of the sales were below $375,000 with 2 sales above that for $645,000 on Bonanza and $1,100,000 on Aloha. The 6 month average sales price continued to decrease by .1% to $335,635. The average days on market are 151 days. I compared my notes to last year and we are now ahead of last years sales with 19 more units sold but the average sales price dropped by approximately 8.6%.
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South Lake Tahoe Weekly Real Estate Market Update 11/18/11
November 18, 2011
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 Fourth Quarter started with a surge and it’s maintaining. As the inventory decreases which is typical for this time of year the buyer activity is increasing. 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 had increased again from 25.8% to 27.2%. This is the result of the Pending sales increasing by 4 as the Active inventory dropped by 12. The distress sales (Short sales and Bank Owned foreclosures) continues to impact the market which now represents 25% of the active inventory and 68.6% of the pending sales.
There were 9 new sales this past week for a YTD of 506 sales. These sales ranged from as low as $100,000 to $525,000. The two sales above $322,000 were High meadow Tr for $519,000 and Sundown Tr for $525,000. This decreased the 6 month average sales price by 1.1% to $336,107. The average days on market are 151 days.
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South Lake Tahoe Weekly Real Estate Market Update 11/11/11
November 11, 2011
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 buying activity remains strong since a surge in the early 4th quarter. 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 had increased from 24.6% to 25.8%. This is the result of the Active listings decreasing by 5 as the Pending sales increased by 6. The distress sales (short sales and bank owned foreclosures) are impacting the market more as it now represents 25.6% of the active inventory and 68.4% of the pending sales.
This past week there were 11 new sales for a YTD of 497 sales. These sales ranged from a low of $122,000 to a high of $650,000. All of the sales were below $330,000 except for one sale on Panka for $650,000. This decreased the 6 month average sales price slightly by .2% to $380,734. The average days on market are 150 days.
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