Lake Tahoe Weekly Real Estate Market Update for East Shore Nevada

July 26, 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.

Home Sales on the east shore of Lake Tahoe are consistent but not on fire!  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 increased by 2.3%.  It shows that 16.1% of the available homes on the market are now pending sales in escrow.  This is the result of the number of available homes for sale decreasing by 6 as the pending sales increased by 4.  There are no bank owned foreclosures and only 2 short sales on the market.

This past week there was 4 completed home sale transactions for a YTD total of 136 home sales.  The home sales were on Benjamin Dr for 356,000, Andria Dr for $399,000, Lakeview Dr for $525,000 and Meadow Dr for $1,145,000.  This had decreased the 6 month average sales price by .7% to $976,470.  The average days on market are 179 days.

South Lake Tahoe Weekly Real Estate Market Update for 5/30/13

May 30, 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.

The new listings in The South Lake Tahoe real estate market have outpaced the new pending sales again this past week.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available on the market and the pending sales in escrow.  This past week the market activity ratio showed that 34.6% of the homes on the market are now pending sales in escrow which is down from the previous week by 1.2%.  This is the result of the number of homes on the market increasing by 12 as the pending sales increased by 1.  There are now only 4 bank owned foreclosures and 1 short sale available on the market for sale.  The distress sales now only represents 2.5% of the available homes for sale and 26% of the pending sales in escrow.

This past week there were 21 completed sales transactions for a YTD total of 263 sales.  The sales ranged from a low of $75,000 to a high of $4,500,000.  Most of the sales were below $390,000.  The top three sales were on Piute for $410,500, Lassen Dr for $510,000 and Stateline Ave which was a lake front home for $4,500,000.  The lake front home sale had dramatically increased the 6 month average sales price by 2.3% to $373,394.  The average days on market are 138 days.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 05/30/13 at 4:07pm
Active
Listing Price Range Quantity Average DOM
$60,000 thru $69,999 1 34
$140,000 thru $159,999 4 212
$160,000 thru $179,999 4 56
$180,000 thru $199,999 6 217
$200,000 thru $249,999 11 104
$250,000 thru $299,999 26 96
$300,000 thru $349,999 15 46
$350,000 thru $399,999 24 75
$400,000 thru $449,999 13 110
$450,000 thru $499,999 12 189
$500,000 thru $549,999 10 84
$550,000 thru $599,999 12 59
$600,000 thru $649,999 7 81
$650,000 thru $699,999 5 118
$700,000 thru $749,999 1 105
$750,000 thru $799,999 5 30
$800,000 thru $849,999 3 82
$850,000 thru $899,999 6 321
$900,000 thru $949,999 4 86
$950,000 thru $999,999 4 550
$1,000,000 thru $1,249,999 6 58
$1,250,000 thru $1,499,999 8 262
$1,500,000 thru $1,749,999 3 45
$1,750,000 thru $1,999,999 2 169
$2,000,000 thru $2,249,999 1 55
$2,250,000 thru $2,499,999 1 58
$2,750,000 thru $2,999,999 1 433
$4,500,000 thru $4,749,999 2 166
  197 120
 
Summary Price Information
Minimum $69,900 Maximum $4,700,000
Average $611,355 Median $438,900
Pending
Listing Price Range Quantity Average DOM
$120,000 thru $139,999 1 1660
$140,000 thru $159,999 4 70
$160,000 thru $179,999 6 76
$180,000 thru $199,999 4 53
$200,000 thru $249,999 20 57
$250,000 thru $299,999 16 54
$300,000 thru $349,999 13 81
$350,000 thru $399,999 11 76
$400,000 thru $449,999 9 178
$450,000 thru $499,999 3 17
$500,000 thru $549,999 5 110
$550,000 thru $599,999 2 344
$600,000 thru $649,999 2 70
$650,000 thru $699,999 1 809
$700,000 thru $749,999 1 73
$800,000 thru $849,999 3 156
$850,000 thru $899,999 2 64
$1,000,000 thru $1,249,999 1 70
  104 107
 
Summary Price Information
Minimum $129,700 Maximum $1,195,000
Average $359,785 Median $312,500
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 ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
 

Area Market Survey
Summary

Listings as of 05/30/13 at 4:07pm
Sold
Selling Price Range Quantity Average DOM
$50,000 thru $59,999 1 646
$70,000 thru $79,999 3 156
$80,000 thru $89,999 1 38
$100,000 thru $119,999 5 122
$120,000 thru $139,999 10 198
$140,000 thru $159,999 14 184
$160,000 thru $179,999 12 88
$180,000 thru $199,999 20 79
$200,000 thru $249,999 45 113
$250,000 thru $299,999 46 90
$300,000 thru $349,999 37 155
$350,000 thru $399,999 24 223
$400,000 thru $449,999 28 168
$450,000 thru $499,999 15 113
$500,000 thru $549,999 15 167
$550,000 thru $599,999 11 131
$600,000 thru $649,999 6 123
$650,000 thru $699,999 6 84
$700,000 thru $749,999 4 56
$750,000 thru $799,999 4 113
$800,000 thru $849,999 3 208
$850,000 thru $899,999 2 112
$900,000 thru $949,999 1 170
$1,000,000 thru $1,249,999 5 256
$1,250,000 thru $1,499,999 1 137
$1,500,000 thru $1,749,999 1 249
$1,750,000 thru $1,999,999 1 30
$4,500,000 thru $4,749,999 1 364
  322 138
 
Summary Price Information
Minimum $52,000 Maximum $4,500,000
Average $373,394 Median $309,950
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 ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

South Lake Tahoe Weekly Real Estate Market Update for 3/1/13

March 1, 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.

With the inventory of homes for sale in South Lake Tahoe at it’s lowest point since the boom years & higher prices, the buyers are not being deterred.   To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes for sale and the pending sales.  This past week the market activity ratio had slightly decreased and it’s showing that 41.7% of the homes are now pending sales in escrow.  This is the result of the active listings decreasing by 5 as the pending sales increased by 11.  The distress sales (Short sales and Bank Owned Foreclosures) are impacting the far less than the past as it now only represents 7.9% of the available homes for sale and 24% of the pending sales.

This past week there were 14 new sales for a YTD total of 80 sales.  The sales ranged from a low of $107,000 to a high of $570,000.  The top 3 sales were on Skyline Dr for $520,000, Grizzly Mountain Dr for $557,000 and Mount Diablo Cr for $570,000.  This was enough to increase the 6 month average sales price by 1.5% to $335,915.  The average days on market are 136 days.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 03/01/13 at 1:06pm
Active
Listing Price Range Quantity Average DOM
$80,000 thru $89,999 1 289
$90,000 thru $99,999 1 24
$140,000 thru $159,999 4 150
$160,000 thru $179,999 5 163
$180,000 thru $199,999 3 197
$200,000 thru $249,999 13 147
$250,000 thru $299,999 13 148
$300,000 thru $349,999 16 153
$350,000 thru $399,999 15 187
$400,000 thru $449,999 11 156
$450,000 thru $499,999 6 297
$500,000 thru $549,999 7 52
$550,000 thru $599,999 5 189
$600,000 thru $649,999 3 231
$650,000 thru $699,999 6 115
$700,000 thru $749,999 1 15
$750,000 thru $799,999 2 13
$800,000 thru $849,999 2 215
$850,000 thru $899,999 4 332
$900,000 thru $949,999 1 95
$950,000 thru $999,999 3 773
$1,000,000 thru $1,249,999 6 116
$1,250,000 thru $1,499,999 6 306
$1,500,000 thru $1,749,999 1 8
$1,750,000 thru $1,999,999 3 481
$2,750,000 thru $2,999,999 1 343
$4,500,000 thru $4,749,999 2 76
$4,750,000 thru $4,999,999 1 280
  142 187
 
Summary Price Information
Minimum $89,000 Maximum $4,950,000
Average $637,652 Median $403,950
Pending
Listing Price Range Quantity Average DOM
$60,000 thru $69,999 1 63
$100,000 thru $119,999 1 1570
$120,000 thru $139,999 2 163
$140,000 thru $159,999 3 89
$160,000 thru $179,999 6 137
$180,000 thru $199,999 4 40
$200,000 thru $249,999 9 74
$250,000 thru $299,999 18 138
$300,000 thru $349,999 10 131
$350,000 thru $399,999 7 112
$400,000 thru $449,999 14 258
$450,000 thru $499,999 6 292
$500,000 thru $549,999 4 369
$550,000 thru $599,999 5 136
$650,000 thru $699,999 2 36
$700,000 thru $749,999 1 154
$800,000 thru $849,999 1 160
$850,000 thru $899,999 2 158
$950,000 thru $999,999 1 719
$1,250,000 thru $1,499,999 1 277
$1,500,000 thru $1,749,999 2 147
  100 180
 
Summary Price Information
Minimum $69,000 Maximum $1,700,000
Average $398,177 Median $335,000
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 ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045
 

Area Market Survey
Summary

Listings as of 03/01/13 at 1:06pm
Sold
Selling Price Range Quantity Average DOM
$50,000 thru $59,999 2 356
$60,000 thru $69,999 1 175
$70,000 thru $79,999 2 48
$80,000 thru $89,999 2 107
$90,000 thru $99,999 2 420
$100,000 thru $119,999 5 135
$120,000 thru $139,999 17 215
$140,000 thru $159,999 17 156
$160,000 thru $179,999 19 126
$180,000 thru $199,999 26 138
$200,000 thru $249,999 64 97
$250,000 thru $299,999 38 112
$300,000 thru $349,999 42 131
$350,000 thru $399,999 22 156
$400,000 thru $449,999 19 175
$450,000 thru $499,999 12 144
$500,000 thru $549,999 14 146
$550,000 thru $599,999 10 83
$600,000 thru $649,999 6 110
$650,000 thru $699,999 3 93
$700,000 thru $749,999 5 60
$750,000 thru $799,999 3 67
$800,000 thru $849,999 2 192
$850,000 thru $899,999 3 237
$900,000 thru $949,999 1 170
$1,000,000 thru $1,249,999 3 215
$1,250,000 thru $1,499,999 1 82
$1,500,000 thru $1,749,999 1 298
$2,250,000 thru $2,499,999 1 250
$3,000,000 thru $3,249,999 1 415
  344 136
 
Summary Price Information
Minimum $52,000 Maximum $3,175,000
Average $335,915 Median $265,000
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 ©2013 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Jumbo Loans Are Coming Back

February 2, 2013

If you are thinking about purchasing a home in South Lake Tahoe, this is a good time to do it!  The mortgage loans are changing which can be good and bad.  First the good news is that Jumbo Loans are making a come back in the market place.  This should help the portion of the market that is still dragging which is specifically the price bracket between $500,000 to a million.

Secondly, lenders may be tightening debt ratios soon due the Dodd Frank bill.  This means that if your debt is considered too high, you may not qualify for loan to get the house that you want.  This could further eliminate more buyers from the market because they just won’t qualify for a loan.  In Lake Tahoe this is a critical issue for locals as home prices already exceed income levels for most locals.  For more information, go to the media player on my home page www.HotWireToTahoe.com and listen to the Ron Yokotake interview, “Jumbo Loans Making a Come Back.”

Lake Tahoe Real Estate Update for East Shore Nevada 2/1/13

February 1, 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.

There are still buyers scouring the Nevada side and the better values disappear quickly.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes for sales and the pending sales.  This past week the Market Activity Ratio showed that 22% of the available homes are now pending sales which is up from 20.4% last week.  This is the result of the number of homes for sale decreasing by 2 as the Pending sales increased by 3.  The distress sales (Short sales and Foreclosures) is impacting the market less as it now only represents 2.3% of the available homes for sale and 51.4% of the pending sales.

There was 1 new sale for a YTD total of 9 sales this past week.  The sale was a home on Kingsbury Grade for $232,000.  This had decreased the 6 month average sales price by 9% to $777,561.  The averager days on market are 214 days.

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