Lake Tahoe Weekly Home Sale Report for Nevada East Shore 10/4/13

October 4, 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 in the Stateline area of Lake Tahoe did dip along with the supply of homes available on the market.  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. This past week the Market Activity Ratio had decreased by 1.8% and it now shows that 14% of the available homes are now pending sales in escrow.  This is the result of the supply of homes in Stateline, Nevada decreasing by 7 as the Pending sales decreased by 5.  There is one bank owned foreclosure on the market and 3 short sales.  The distress sales now only represent 2.6% of the available supply of homes and 24% of the pending sales. 

There were 7 completed sales for a YTD total of 181 sales.  The sales ranged from a low of $125,000 to a high of $1,440,000.  The top three sales were a couple on Pray Meadow for $825,000 and $1,440,000 and Logan Creek Dr for $959,000.  The sales had decreased the 6 month average sales price by 1.5% to $752,345.  The average days on market are 197 days.

Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 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 home inventory in the Stateline, NV area this past week has been growing as it outpaces the pending sales.  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 pending sales in escrow.  This past week the Market Activity showed that  23.8% of the available homes for sale are now pending sales in escrow which is down from the previous week by 3.8%.  This is the result of the available homes on the market increasing by 12 as the pending sales decreased by 5.  There are now only 2 short sales available on the market for sale  and no bank owned foreclosures.  The distress sales now represent 1.4% of the available homes for sale and 30.2% of the pending sales.

There were 5 new completed sales transactions this past week for a YTD total of 89 sales.  Two of the sales were townhomes in Lake Village for $260,000 and $264,750.  The other 3 sales were homes on Cottonwood for $350,000, Cedar Ridge for $575,000 and Jack Cr for $1,675,000.  This was enough to increase the 6 month average sales price by .8% to $1,186,713.  The average days on market are 190 days.

Lake Tahoe Weekly Market Update Nevada East Shore 5/25/12

May 25, 2012

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.

Buyer demand is increasing in Nevada as the number of distress sales diminishes.  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 had increased to 18.3% of the inventory to pending in escrow.  This is the result of the Active listings decreased by 1 as the pending sales increased by 3.  The distress sales (short sales and bank owned foreclosures) continue to impact the market as it only represents 4.5% of the Active inventory and 74.3% of the pending sales

This past week there were 4 new sales for a YTD total of 53 sales.  The sales were on Juniper Dr for $328,500, condo on McFaul Way for $145,000, Freel for $790,000 and Lyons Ave for $275,250.  This increased the 6 month average sales price by .4% to $625,572.  The average days on market are 209 days.

Lake Tahoe Weekly Real Estate Market Update for Nevada East Shore 5/4/12

May 4, 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 inventory remains low on the Nevada side and the buyers may be on the side lines.  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 had slightly dipped from 18.7% to 18.4% of the inventory in pending in escrow.  The distress (short sales and bank owned foreclosures) sales continue to impact the market as it now represents 8.4% of the Inventory and 60% of the Pending sales.

There were 4 new sales this past week for a YTD total of 41 sales.  These sales were all on top of Kingsbury Grade which are Barrett Dr for $350,000, two on Andria Dr for $510,000 and $310,000 and Jeff Ln for $400,000.  The 6 month average sales price dropped by .7% to $582,680.  The average days on market are 191 days.

Lake Tahoe Weekly Real Estate Market Report for the East Shore in Nevada 3/2/12

March 2, 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 activity level took a little dip as it continues to fluctuate.  To measure the most current buyer activity, I use the Market Activity Ration which is the relationship between Active listings and Pending sales.  This past week the Market Activity Ratio had decreased from 19.1% to 16.8%.  This is the result of the Active listings increasing by 9 as the Pending sales decreased by 3.  The distress sales (Short sales and Bank Owned Foreclosures) continue to have an impact as it now represents 14.1% of the Active inventory and 76.7% of the Pending sales.

It was a good week for sales with 4 closings to increase the YTD total to 17.  There were 3 condo sales on North Bowl for $400,000, Tramway for $155,100 and Lake Village for $240,000.  The 4th sale was a home on Riven Rock for $295,000.  This decreased the 6 month average sales price by 2.5% to $699,334.  The average days on market are 184 days.

 

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