South Lake Tahoe Weekly Real Estate Market Update 5/25/12

May 25, 2012

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.

Buyer Demand remains high as the Inventory remains 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 remained the same with 39.1% of the inventory pending in escrow.  This is the result with the number of Active and Pending listings remaining unchanged from last week with 254 homes and condos available and 163 pending sales.  The distress sales (short sales and bank owned foreclosures) continue to impact our market as it now represents 17.3% of the Active inventory and 59.5% of the Pending sales.

There were 18 new sales this past week for a YTD total of 228 sales.  The sales ranged from a low of $135,000 to a high of $3,125,000.  The majority of the sales were under $335,000 with 4 sales above that which were on Apalachee Dr for $450,000, Susie Lake Rd for $540,000, Monterey Dr for $740,000 and a lake front in the Tahoe Keys on Lighthouse Shores for $3,125,000.  The lakefront sale substantially increased the 6 month average sales price by 3.4% to $317,490.  This is the second consecutive week that we saw a rise in the 6 month average sales price.  The average days on market are 162 days.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 05/25/12 at 8:57am
Active
Listing Price Range Quantity Average DOM
$60,000 thru $69,999 1 16
$80,000 thru $89,999 1 32
$90,000 thru $99,999 1 27
$100,000 thru $119,999 4 310
$120,000 thru $139,999 6 104
$140,000 thru $159,999 13 93
$160,000 thru $179,999 15 237
$180,000 thru $199,999 11 79
$200,000 thru $249,999 19 159
$250,000 thru $299,999 31 207
$300,000 thru $349,999 13 183
$350,000 thru $399,999 27 86
$400,000 thru $449,999 21 219
$450,000 thru $499,999 18 300
$500,000 thru $549,999 11 94
$550,000 thru $599,999 12 160
$600,000 thru $649,999 4 109
$650,000 thru $699,999 12 97
$700,000 thru $749,999 1 378
$750,000 thru $799,999 4 28
$800,000 thru $849,999 1 644
$850,000 thru $899,999 6 191
$900,000 thru $949,999 1 15
$950,000 thru $999,999 3 545
$1,000,000 thru $1,249,999 1 14
$1,250,000 thru $1,499,999 10 314
$1,500,000 thru $1,749,999 1 245
$1,750,000 thru $1,999,999 1 781
$2,000,000 thru $2,249,999 1 103
$2,750,000 thru $2,999,999 2 71
$3,250,000 thru $3,499,999 1 240
$4,250,000 thru $4,499,999 1 503
  254 179
 
Summary Price Information
Minimum $65,000 Maximum $4,350,000
Average $490,841 Median $369,000
Pending
Listing Price Range Quantity Average DOM
$30,000 thru $39,999 1 8
$60,000 thru $69,999 1 43
$70,000 thru $79,999 1 31
$90,000 thru $99,999 1 286
$100,000 thru $119,999 9 101
$120,000 thru $139,999 7 104
$140,000 thru $159,999 6 143
$160,000 thru $179,999 14 143
$180,000 thru $199,999 21 112
$200,000 thru $249,999 28 119
$250,000 thru $299,999 18 149
$300,000 thru $349,999 11 135
$350,000 thru $399,999 13 175
$400,000 thru $449,999 10 143
$450,000 thru $499,999 5 54
$500,000 thru $549,999 3 187
$550,000 thru $599,999 3 269
$600,000 thru $649,999 2 139
$650,000 thru $699,999 1 22
$800,000 thru $849,999 1 102
$850,000 thru $899,999 2 34
$900,000 thru $949,999 2 434
$1,000,000 thru $1,249,999 1 187
$1,250,000 thru $1,499,999 1 262
$1,500,000 thru $1,749,999 1 165
  163 135
 
Summary Price Information
Minimum $39,000 Maximum $1,648,000
Average $306,675 Median $244,900
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
 

Area Market Survey
Summary

Listings as of 05/25/12 at 8:57am
Sold
Selling Price Range Quantity Average DOM
$30,000 thru $39,999 1 181
$40,000 thru $49,999 1 30
$50,000 thru $59,999 3 198
$70,000 thru $79,999 1 41
$80,000 thru $89,999 4 152
$90,000 thru $99,999 5 163
$100,000 thru $119,999 11 148
$120,000 thru $139,999 22 118
$140,000 thru $159,999 24 136
$160,000 thru $179,999 25 186
$180,000 thru $199,999 18 160
$200,000 thru $249,999 50 141
$250,000 thru $299,999 29 166
$300,000 thru $349,999 23 163
$350,000 thru $399,999 22 139
$400,000 thru $449,999 18 183
$450,000 thru $499,999 11 164
$500,000 thru $549,999 6 277
$550,000 thru $599,999 7 125
$600,000 thru $649,999 6 363
$650,000 thru $699,999 1 146
$700,000 thru $749,999 2 246
$750,000 thru $799,999 1 385
$800,000 thru $849,999 1 161
$900,000 thru $949,999 2 136
$950,000 thru $999,999 1 199
$1,000,000 thru $1,249,999 2 161
$1,250,000 thru $1,499,999 2 199
$1,500,000 thru $1,749,999 1 30
$2,500,000 thru $2,749,999 2 212
$3,000,000 thru $3,249,999 1 473
  303 162
 
Summary Price Information
Minimum $35,000 Maximum $3,125,000
Average $317,490 Median $228,800
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

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