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

January 25, 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.

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

January 11, 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.

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.

Lake Tahoe Weekly Real Estate Market Update for East Shore Nevada 12/13/12

December 13, 2012

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 high end buyers are more active in Nevada.  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 shows that 19.4% of the homes on the market are pending sales which is about a full tick lower than the previous week.  This is the result of the available homes on the market dropping by 2 as the Pending sales dropped by 3.  The distress sales (Short sales and Bank Owned Foreclosures) is impacting the market less as it now represents only 4.1% of the available homes on the market yet 60% of the pending sales.

This past week there were 5 new sales for a YTD total of 156 sales.  The lowest sale was a condo on Tina Ct for $340,000 and the highest sale was in Glenbrook on The Back Road for $2,235,000.  The other two sales were on Alma Way for $281,228 and Lark Cr. for $590,000.  The higher sales did raise the 6 month average sales price by 4.6% to $657,084.  The average days on market are 226 days.

South Lake Tahoe Weekly Real Estate Market Update 12/13/12

December 13, 2012

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.

There are less Foreclosures, less Short Sales and less homes available for sale.  Inventory hasn’t been this low since the peak of the market.  If you have been thinking about selling this is good news!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes available for sale and the number of Pending sales.  This past week the Market Activity Ratio had dropped as 35.5% of the available homes are pending sales.  This is the result of the number of available homes for sale dropping by 2 as the number of Pending sales dropped by 6.  The buyer demand continues to be strong for this time of year.  The distress sales (Short Sales and Bank Owned Foreclosures) are shrinking from the market place as it now only represents 6.7% of the available homes for sale and 46.2% of the pending sales.

This past week there were 11 new sales for a YTD Total of 702 sales.  The sales ranged from a low of $75,700 to a high of $705,000.  All but 3 sales were below $342,000.  The top three sales were on Osage Cr for $410,000, Minniconjou Dr for $490,000 and Acoma Cr for $705,000.  This was enough to increase the 6 month average sales price by .3% to $324,062.  The average days on market are 143 days.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 12/13/12 at 3:26pm
Active
Listing Price Range Quantity Average DOM
$120,000 thru $139,999 1 66
$140,000 thru $159,999 4 111
$160,000 thru $179,999 2 242
$180,000 thru $199,999 7 171
$200,000 thru $249,999 7 205
$250,000 thru $299,999 17 195
$300,000 thru $349,999 13 162
$350,000 thru $399,999 16 190
$400,000 thru $449,999 20 183
$450,000 thru $499,999 5 697
$500,000 thru $549,999 11 198
$550,000 thru $599,999 9 156
$600,000 thru $649,999 7 168
$650,000 thru $699,999 6 201
$700,000 thru $749,999 2 38
$750,000 thru $799,999 1 48
$800,000 thru $849,999 4 301
$850,000 thru $899,999 3 356
$900,000 thru $949,999 2 117
$950,000 thru $999,999 5 579
$1,000,000 thru $1,249,999 3 262
$1,250,000 thru $1,499,999 9 293
$1,500,000 thru $1,749,999 1 41
$1,750,000 thru $1,999,999 4 333
$2,000,000 thru $2,249,999 1 305
$2,500,000 thru $2,749,999 1 103
$2,750,000 thru $2,999,999 1 265
$4,250,000 thru $4,499,999 1 705
$4,500,000 thru $4,749,999 1 28
$4,750,000 thru $4,999,999 1 202
  165 225
 
Summary Price Information
Minimum $139,000 Maximum $4,950,000
Average $673,503 Median $439,800
Pending
Listing Price Range Quantity Average DOM
$60,000 thru $69,999 1 21
$80,000 thru $89,999 1 211
$90,000 thru $99,999 2 341
$100,000 thru $119,999 2 764
$120,000 thru $139,999 4 203
$140,000 thru $159,999 5 227
$160,000 thru $179,999 7 90
$180,000 thru $199,999 10 107
$200,000 thru $249,999 11 69
$250,000 thru $299,999 11 107
$300,000 thru $349,999 8 92
$350,000 thru $399,999 9 121
$400,000 thru $449,999 4 313
$450,000 thru $499,999 4 62
$500,000 thru $549,999 3 64
$550,000 thru $599,999 1 64
$600,000 thru $649,999 1 110
$650,000 thru $699,999 1 250
$750,000 thru $799,999 2 74
$850,000 thru $899,999 2 238
$1,000,000 thru $1,249,999 1 162
$1,500,000 thru $1,749,999 1 97
  91 141
 
Summary Price Information
Minimum $65,900 Maximum $1,700,000
Average $328,871 Median $259,900
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 12/13/12 at 3:26pm
Sold
Selling Price Range Quantity Average DOM
$40,000 thru $49,999 1 55
$50,000 thru $59,999 1 66
$60,000 thru $69,999 2 128
$70,000 thru $79,999 2 82
$80,000 thru $89,999 3 81
$90,000 thru $99,999 3 286
$100,000 thru $119,999 11 203
$120,000 thru $139,999 23 197
$140,000 thru $159,999 30 128
$160,000 thru $179,999 31 136
$180,000 thru $199,999 32 145
$200,000 thru $249,999 78 118
$250,000 thru $299,999 49 127
$300,000 thru $349,999 40 140
$350,000 thru $399,999 23 124
$400,000 thru $449,999 24 178
$450,000 thru $499,999 14 232
$500,000 thru $549,999 15 160
$550,000 thru $599,999 12 105
$600,000 thru $649,999 6 45
$650,000 thru $699,999 2 139
$700,000 thru $749,999 5 78
$750,000 thru $799,999 5 57
$800,000 thru $849,999 2 109
$850,000 thru $899,999 2 275
$900,000 thru $949,999 2 186
$950,000 thru $999,999 1 70
$1,000,000 thru $1,249,999 2 214
$1,250,000 thru $1,499,999 5 277
$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
  429 143
 
Summary Price Information
Minimum $48,250 Maximum $3,175,000
Average $324,062 Median $249,000
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 ©2012 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Lake Tahoe Real Estate Market Update for Nevada East Shore 11/8/12

November 8, 2012

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 Nevada market is showing no signs of slowing down.  To measure the most current buyer activity, I use the Market Activity Ratio.  This is the relationship between the number of available homes on the market and the pending sales.  There was a slight increase this past week and now 22.3% of the available homes on the market are pending sales.  This is the result of the number of available homes dropping by 5 as the pending sales remained the same.  The distress sales (Short sales and Bank Owned Foreclosures) now only represents 5.3% yet 51.2% of the pending sales.

This past week there were 7 new sales for a YTD total of 133 sales.  There was on condo sale in Lake Village which was on Lake Village Dr for $395,000.  The home sales include Aspen Way for $325,000, Martin for $725,000, Sugar Pine for $800,000, The Back Road for $1,515,000 and a bank owned lake front on Pittman Terrace for $1,975,000.  The high end sales were enough to increase the 6 month average sales price by $6.9% to $671,897.  The average days on market are 235 days.

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