December 8, 2013
The South Lake Tahoe home sales aren’t as strong as it was only 3 months ago but the winter season has always been typically slow. The home in the photo went on the market only 3 days ago and it already has an accepted offer. What is amazing about this particular home is that it had attracted multiple offers on the first day. So how did that happen in a slow market?
The buyer demand for homes in South Lake Tahoe appears to be stronger than the available supply. An indicator of this is the month supply of homes on the market. This home was priced at $275,000. According to the statistics in the South Tahoe Association of Realtors Multiple Listing Service, homes have been selling at a rate of about 3 per month in the price bracket between $350,000 to $399,999. Currently there are about 12 homes available for sale. If you divide 12 by 3, it means that there is about a 4 month supply of homes in this price bracket. Assuming that the numbers remain consistent, you could reasonable expect a home to sell within 4 months.
What if you priced your home lowest of the 12 homes in the same price bracket, you might assume that yours would be the first to sell. Of course this assumes that all other variables are equal such as location, condition, size, etc.. What I’m driving at is that supply and demand will determine whether your home sells quickly regardless of the season. Given all other variables such as location, condition, size, etc.., you’ll need to price your home appropriately to anticipate a shorter time frame on the market. For more information, give me a call, 530-314-9008.
December 7, 2013
The three brothers had remodeled a vintage 1957 home from the studs for their own family. If there isn’t enough room around the fireplace, more people can enjoy the warmth of the woodstove heater in the family room. You definitely will be Wowed when you walk-in! It’s all nicely done with wood and tile floors, granite countertops, and several other nice features! You’ll be impressed with the like new condition!
December 6, 2013
This is a home for sale in South Lake Tahoe that is coming onto the market soon! The owner is a contractor and he had completely remodeled this 1957 vintage home after stripping it down to the studs. It is virtually an all new home with several nice features such as engineered wood floors with “Distress Hickory”, bathroom floor tiles and granite counter tops throughout.
The owners had designed it to accommodate their large family and friends! There are two living room areas and two dining areas which gives you plenty space for lounging and entertaining. With 4 bedrooms and 2.5 baths, there is plenty of beds for all of your guests. The bathrooms are strategically laid out & compartmentalized with pocket doors to allow for multiple uses at any given time. For more information or photos, contact me at email@example.com!
December 5, 2013
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.
The home sales in the Stateline, Nevada of Lake Tahoe are experiencing the holiday slows! To measure the most current buyer activity, I use the Market Activity Ratio, which is the relationship between the number of homes on the market and the pending sales. This past week the Market Activity Ratio had significantly decreased by 5.7% as the number of homes for sale dropped by 7 and the pending sales dropped by 2. It now shows us that only 7.7% of the available homes for sale are now pending sales in escrow. There is only 1 bank owned foreclosure and 5 short sales. The distress sales now only represent 4.7% of the available homes for sale and 31.6% of the pending sales.
There were 4 completed sales this past week for a YTD total of 209 sales. The sales were a townhome on Benjamin for $138,000, homes on Freel for $550,000, The Back Road for $5,200,000 and Yerington Circle for $1,895,000. This had pushed up the 6 month average sales price by 6.1% to $779,291. The average days on market are 220 days.
December 5, 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 continue to be lively for a typically slow time of year! As a result, we are seeing the home sale inventory dropping closer to the low levels that happened last year. 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 there was a slight rise by .7% as the number of homes for sale dropped by 11 and the pending sales dropped by 2. It now shows that 29.7% of the available home sales are now pending sales in escrow. There are only 6 bank owned foreclosures and 3 short sales available for sale. The distress sales now only represent 26.69% of the available inventory.
There were 15 completed sales this past week for a YTD total of 673 sales. The sales ranged from a low of $171,000 to a high of $2,000,000. The top three sales were on Muskwaki Dr for $865,000, White Sands Dr for $1,750,000 and Frontier Ct for $2,000,000. This had pushed up the 6 month average sales price by 1.8% to $393,118. The average days on market are 106 days.