South Lake Tahoe Weekly Real Estate Market Update 1/27/12

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 market is still buzzing and inventory is low.  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 decreased from 29.5% to 27%.  This is the result of Active listings increasing by 8 as the Pending sales decreased by 10.  The distress sales (Short sales and Bank Owned Foreclosures) continue to impact the market as it now represents 22.1% of the Active inventory and 79.4% of the Pending sales. 

This past week there were 13 new sales for a YTD total of 32 sales.  These sales ranged from a low of $58,000 to a high of $815,000.  Most of the sales were below 265,000 with 3 sales above that which were on Skyline for $350,000, Timber Ln for $445,000 and Mackedie for $815,000.  This increased the 6 month average sales price by 20% to $330,294.  The average days on market are 150 days.