South Lake Tahoe Weekly Real Estate Market Statistics

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 trends.

Despite the wild swings in the DOW Jones, our local real estate market is amazingly stable.  To track the most current buyer activity, I like to use the Market Activity Ratio, which is the relationship between Active Listings and Pending Sales.  This past week the Market Activity Ratio remained the same at 22.2%.  This is the result of the Active Listings increasing by 3 as the Pending sales decreased by 1.  It’s interesting to note that the number of Pending REOs is 19 and the number of Short Sales is 51 which represents 60.9% of the Pending Sales.  This is a drop from the previous quarter when the percentage of pending distress sales was closer to 70%.

There were a whopping 15 New Sales this past week which brings our YTD to 191 sales.  The majority of the sales occurred below $400,000, but there were 5 sales above $500,000 with a lake view sale near Heavenly Ski resort that sold for $1,060,000.  The 6 month Average Sales price moved slightly down by .4% to $403,304.  The average days on market for these sales is 154 days.

Listings per Status