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

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

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

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

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.

Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 1/25/13

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.

The big sales are still happening on the Nevada side of Lake Tahoe.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of available homes on the market and the pending sales.  This past week the Market Activity Ratio had showed that 20.4% of the homes are pending sales.  This is the result of the number of available homes decreasing by 1 as the pending sales increased by 1.  The distress sales (short sales and bank owned foreclosures) now only represent 4.5% of the available homes on the market and 52.9% of the pending sales. 

This past week there were 2 new sales for a YTD total of 7 sales.  The sales were a townhome on Tramway for $98,000 and a home on Glenbrook Rd for $1,400,000.  This was enough to decrease the 6 month average sales price by .4% to $784,702.  The average days on market are 211 days.

Lake Tahoe Weekly Real Estate Update for East Shore Nevada 1/11/13

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.

This past week there was a pause after a strong year end push!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available and the pending sales.  This past week the Market Activity Ratio showed that 18.7% of the available homes are now pending sales in escrow.  The distress sales (Short Sales and Bank Owned Foreclosures) now only represents 3.7% of the available homes on the market yet 54.8% of the pending sales.

This past week there were 2 new sales.  For the year of 2012 there were 167 sales which means that on average there was one home sold every 2.18 days.  The sales this past week were on Andria Dr for $455,000 and Chimney Rock for $373,000.  Due to the strong year end surge in sales with high end properties, the 6 month average sales price rose significantly by 19.8% to $781,099.  The average days on market are 221 days.

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