South Lake Tahoe Market Update August 2010
South Lake Tahoe
Real Estate Market Update
Currently there are 509 Active listings (single family and condo) and 118 Active Pending (in escrow) listings in South Lake Tahoe.
There were 38 properties that sold in the city and county neighborhoods of South Lake Tahoe July 1-31. 17 (44%) of the sales comprised of REO (bank owned) or short sales. The Statistics are as follows.
Avg. List Price $373,279
Avg. Sold Price $349,418
Avg. DOM(Days on Market) 154
Avg. SF (Sq. feet) 1556
% of Sold Price to List Price-
1-30 DOM- 98.75%
31-60 DOM- 101.88%
61-90 DOM- 96.31%
91-120 DOM- 95.84%
120+days- 88.79%
The median sales price in July for Single Family residences was $326,500, the same as June and a slight increase from January-May of this year. Currently the median home price is equal to where it was in January 2004.
There were 30 single family homes sold in July. Are you including sales other than single family homes in your mix to get to your reported 38 sales? If so, one might qualify that.
Or are you including homes that are not usually associated as being part of South Lake Tahoe, like those in the Strawberry corridor area?
Of the 30 sales, 13 of them were distressed.
Hi Richard,
Thanks for your comments. Yes, I did include Condos in the Sales. My first paragraphs discusses the Actives and Active Pendings, and I clearly stated- single family and condos. I included the City and County neighborhoods that are specified in the So. Tahoe Assoc. of Realtors MLS.
Hope is all well with you. Here’s to great Summer and Fall selling season!