South Lake Tahoe Weekly Real Estate Market Update 7/15/11

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 Buyers are Buzzing!  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 increased from 16.3% to 17.5%.  This is the result of the Active listings increasing by 4 as the Pending sales increased by 7.  It’s interesting to note that the percentage of distress sales (short sales and bank owned properties) is lower with Active listing inventory representing 17.2% and Pending sales inventory representing 57.3%.

There were 15 new sales this past week for a YTD of 283 sales.  These sales ranged from $175,000 to $523,500.  Most of the sales were below $365,000 with 3 sales above that for $458,000 on Cherry Hills, $470,000 on Southern Pines and $523,500 on Genevieve Ct.  This did decrease the 6 month average sales price by .8% to $346,628.  The average days on market are 171 days.

Listings per Status

Area Market Survey

Listings as of 07/15/11 at 11:05am

Active Listing Price Range Quantity Average DOM $40,000 thru $49,999 1 162 $80,000 thru $89,999 1 119 $90,000 thru $99,999 5 85 $100,000 thru $119,999 3 71 $120,000 thru $139,999 9 101 $140,000 thru $159,999 15 79 $160,000 thru $179,999 28 119 $180,000 thru $199,999 26 143 $200,000 thru $249,999 61 189 $250,000 thru $299,999 52 182 $300,000 thru $349,999 37 132 $350,000 thru $399,999 24 122 $400,000 thru $449,999 26 183 $450,000 thru $499,999 38 170 $500,000 thru $549,999 18 132 $550,000 thru $599,999 14 140 $600,000 thru $649,999 15 114 $650,000 thru $699,999 16 159 $700,000 thru $749,999 5 22 $750,000 thru $799,999 8 126 $800,000 thru $849,999 5 207 $850,000 thru $899,999 3 116 $900,000 thru $949,999 3 356 $950,000 thru $999,999 6 511 $1,000,000 thru $1,249,999 1 353 $1,250,000 thru $1,499,999 9 184 $1,500,000 thru $1,749,999 7 383 $1,750,000 thru $1,999,999 2 315 $2,000,000 thru $2,249,999 4 295 $2,250,000 thru $2,499,999 1 491 $2,500,000 thru $2,749,999 2 491 $3,250,000 thru $3,499,999 1 311 $3,500,000 thru $3,749,999 2 373 $4,000,000 thru $4,249,999 1 62 $4,250,000 thru $4,499,999 3 154 $10,000,000 or more 1 575 453 166

Summary Price Information Minimum $45,000 Maximum $12,900,000 Average $537,818 Median $339,000

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 ©2011 Rapattoni Corporation. All rights reserved. U.S. Patent 6,910,045

Area Market Survey

Listings as of 07/15/11 at 11:05am

Pending Listing Price Range Quantity Average DOM $70,000 thru $79,999 1 125 $90,000 thru $99,999 2 50 $100,000 thru $119,999 2 51 $120,000 thru $139,999 4 64 $140,000 thru $159,999 5 57 $160,000 thru $179,999 5 120 $180,000 thru $199,999 5 192 $200,000 thru $249,999 13 106 $250,000 thru $299,999 15 170 $300,000 thru $349,999 8 85 $350,000 thru $399,999 4 48 $400,000 thru $449,999 8 125 $450,000 thru $499,999 8 208 $500,000 thru $549,999 3 79 $550,000 thru $599,999 1 324 $600,000 thru $649,999 3 295 $650,000 thru $699,999 4 157 $750,000 thru $799,999 3 79 $1,000,000 thru $1,249,999 2 228 96 132

Summary Price Information Minimum $75,000 Maximum $1,179,900 Average $350,532 Median $299,000

Sold Selling Price Range Quantity Average DOM $60,000 thru $69,999 2 106 $70,000 thru $79,999 1 50 $90,000 thru $99,999 5 132 $100,000 thru $119,999 5 177 $120,000 thru $139,999 6 108 $140,000 thru $159,999 14 193 $160,000 thru $179,999 17 125 $180,000 thru $199,999 17 157 $200,000 thru $249,999 45 152 $250,000 thru $299,999 36 160 $300,000 thru $349,999 29 181 $350,000 thru $399,999 15 93 $400,000 thru $449,999 13 141 $450,000 thru $499,999 12 214 $500,000 thru $549,999 11 144 $550,000 thru $599,999 14 222 $600,000 thru $649,999 3 206 $650,000 thru $699,999 4 345 $700,000 thru $749,999 4 333 $750,000 thru $799,999 3 92 $800,000 thru $849,999 3 192 $950,000 thru $999,999 2 424 $1,000,000 thru $1,249,999 1 94 $1,250,000 thru $1,499,999 2 583 $1,500,000 thru $1,749,999 1 585 $2,500,000 thru $2,749,999 1 445 266 171

Summary Price Information Minimum $65,000 Maximum $2,630,000 Average $346,628 Median $281,750

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 ©2011 Rapattoni Corporation. All rights reserved. U.S. Patent 6,910,045

CA Bank Owned Foreclosures as of January 21st, 2012

Please click for List One, List Two.  Click for Multi Residential.

Bank Owned properties are forclosures in which title ownership has been transferred to the bank and/or investor.  The banks will typically list these properties with real estate agents to place on the open market.  They will often price these properties aggressively in hopes of creating a quick sale.  Consequently, you will notice that they will sell within 90 days if they are priced appropriately.