South Lake Tahoe Weekly Real Estate Market Update 9/30/11

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.

September has always proved to be a strong month for sales and this year is not a disappointment!  To measure the most current buyer activity on the market, I use the Market Activity Ratio, which is the relationship between Active listings and Pending sales.  This past week the market activity ratio improved slightly from 22% to 22.7%.  This is the result of the Active listings decreasing by 7 as the Pending sales increased by 3.  We should continue to see a decline in the inventory as we approach winter but it will be interesting to see how the continued flow of foreclosures will impact that.  The distress sales (short sales and bank owned foreclosures) now represents 20.1% of the active inventory and 59.1% of the pending sales.

There were 17 new sales this past week for a YTD of 413 sales.  These sales ranged from $163,000 to $915,000.  The majority of the sales were below $300,000 with 6 sales above that which were on Meadow Crest for $460,224, Venice Dr for $470,000, Wagon Train Tr for $500,000, Bernice Ln for $512,500, Elk Point Dr for $536,800 and Beach Ln for $915,000.  This decreased the 6 month average sales price by .6% to $329,664.  The average days on market are 153 days.

Listings per Status

Area Market Survey Listings as of 09/30/11 at 8:35am   Active Listing Price Range Quantity Average DOM   $60,000 thru $69,999 1 14   $80,000 thru $89,999 1 196   $100,000 thru $119,999 6 95   $120,000 thru $139,999 16 144   $140,000 thru $159,999 11 113   $160,000 thru $179,999 18 149   $180,000 thru $199,999 27 168   $200,000 thru $249,999 46 247   $250,000 thru $299,999 44 180   $300,000 thru $349,999 38 166   $350,000 thru $399,999 35 101   $400,000 thru $449,999 27 211   $450,000 thru $499,999 40 179   $500,000 thru $549,999 13 159   $550,000 thru $599,999 16 158   $600,000 thru $649,999 15 213   $650,000 thru $699,999 16 89   $700,000 thru $749,999 6 159   $750,000 thru $799,999 7 186   $800,000 thru $849,999 4 305   $850,000 thru $899,999 4 121   $900,000 thru $949,999 3 226   $950,000 thru $999,999 4 423   $1,000,000 thru $1,249,999 1 430   $1,250,000 thru $1,499,999 11 160   $1,500,000 thru $1,749,999 7 254   $1,750,000 thru $1,999,999 2 392   $2,000,000 thru $2,249,999 4 372   $2,250,000 thru $2,499,999 1 568   $2,500,000 thru $2,749,999 2 568   $3,250,000 thru $3,499,999 2 37   $3,750,000 thru $3,999,999 1 3   $4,250,000 thru $4,499,999 2 289   $10,000,000 or more 1 652     432 181     Summary Price Information Minimum $65,000 Maximum $12,900,000 Average $538,895 Median $369,000   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 09/30/11 at 8:35am   Pending Listing Price Range Quantity Average DOM   $40,000 thru $49,999 1 239   $70,000 thru $79,999 1 22   $80,000 thru $89,999 1 104   $90,000 thru $99,999 2 146   $100,000 thru $119,999 4 84   $120,000 thru $139,999 4 91   $140,000 thru $159,999 9 141   $160,000 thru $179,999 14 97   $180,000 thru $199,999 12 114   $200,000 thru $249,999 23 130   $250,000 thru $299,999 15 191   $300,000 thru $349,999 11 97   $350,000 thru $399,999 6 178   $400,000 thru $449,999 6 80   $450,000 thru $499,999 6 181   $500,000 thru $549,999 2 97   $550,000 thru $599,999 1 401   $600,000 thru $649,999 1 199   $650,000 thru $699,999 1 102   $800,000 thru $849,999 2 117   $1,000,000 thru $1,249,999 1 106   $1,500,000 thru $1,749,999 1 1061   $3,500,000 thru $3,749,999 1 238   $3,750,000 thru $3,999,999 1 116   $4,000,000 thru $4,249,999 1 139     127 139     Summary Price Information Minimum $45,000 Maximum $4,200,000 Average $373,228 Median $237,500   Sold Selling Price Range Quantity Average DOM   $60,000 thru $69,999 2 106   $70,000 thru $79,999 3 83   $80,000 thru $89,999 1 159   $90,000 thru $99,999 7 111   $100,000 thru $119,999 5 159   $120,000 thru $139,999 9 113   $140,000 thru $159,999 17 188   $160,000 thru $179,999 22 105   $180,000 thru $199,999 20 160   $200,000 thru $249,999 49 137   $250,000 thru $299,999 30 165   $300,000 thru $349,999 33 144   $350,000 thru $399,999 17 97   $400,000 thru $449,999 17 171   $450,000 thru $499,999 12 166   $500,000 thru $549,999 13 118   $550,000 thru $599,999 11 227   $600,000 thru $649,999 6 224   $650,000 thru $699,999 1 119   $700,000 thru $749,999 4 165   $750,000 thru $799,999 4 66   $800,000 thru $849,999 3 192   $900,000 thru $949,999 2 265   $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     292 153     Summary Price Information Minimum $65,000 Maximum $2,630,000 Average $329,664 Median $270,500   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 ©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.