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

The Market Activity Ratio is up dramatically from 21.2% to 23.4% this past week.  The Market Activity Ratio is the relationship between Active Listings (Inventory) and Pending Sales (Escrows) which gives a more current trend of the buyer activity on the market.  The result of the increase this past week is a dramatic decrease in Active listings by 25 and a slight increase in Pending Sales by 6.  The price brackets effected the most by the drop in inventory is between $300K to $350K and $550K to $600K.  Selection in these prices brackets are a little short now but the lower price brackets continue to be re supplied by the forclosures and short sales influencing our market.  We are also experiencing the number of short sales piling up due to lengthy escrows which is now up to 43 escrows.  Short Sales and Bank Owned properties now represent 62.7% of the pending sales in our market.  This is still lower than the larger metro areas.  For the most part of this year it hovered at about 50%.

Sales for the past week are up by 5 for a YTD of 416.  The sale prices are $155K, $193K, $379K, $400K, $1.23 million.  This pushed the Median Sales Price (Price where most sales occur) way down by a 3% to $310,000 yet the Average Sales Price had slightly increased by .1% to $385,347 which is thanks to the million dollar sale in the Tahoe Keys.

Listings per Status