MARKET REPORTS Category
The monthly real estate figures are in for October and we are seeing that interest in real estate in South Lake Tahoe remains high but a few of the monthly figures did show a slight change. South Lake Tahoe Home Sales Figures The median price of homes sold in the South Lake Tahoe area rose again in October to $261,250, up 4.5% from October of 2011 and the highest the area has seen since August 2011. The number of homes for sale continues...Continue Reading!
In Lake Tahoe real estate, each month brings better news than the month before. When comparing September to the month and year before there were more closed sales, fewer homes on the market, fewer new listings, and a new category - increasing median sales price! Lake Tahoe Median Sales Price on the Rise Even when the real estate market was showing recovery in the number of homes sold and number of homes for sale, median sales prices weren't recovering. That may have...Continue Reading!
The median home prices of California homes sold reached a 4 year high in August according to the California Association of Realtors (C.A.R.) . In their August sales report released this week, C.A.R. reports that home sales fell off slightly for the month but are maintaining a strong pace with 5 straight months of year over year sales gains. They also reported that inventory of homes for sale continues to be an issue with inventory at a 6 year low....Continue Reading!
8 homes closed escrow in South Lake Tahoe, NV during the week of September 11-17, 2012. Interest in Lake Tahoe homes for sale remains strong! South Lake Tahoe, NV Homes Sold Here is a list of all homes that sold this week along with their selling prices and asking price (in parenthesis): 610 Jerry Drive, Zephyr Heights Neighborhood, $202,000 ($225,000) - Short Sale 225 Sadie Lane, Cave Rock Neighborhood, $235,000 ($249,900) - Short Sale 607 Jerry Drive, Zephyr Heights Neighborhood, $315,000 ($285,000) 658 Jeff Lane, Kingsbury Neighborhood, $315,000...Continue Reading!
Twenty homes closed escrow in South Lake Tahoe during the week of September 4-11, 2012. Homes are continuing to sell at a very rapid pace! The selling prices ranged from $131,500 for a 3 bedroom home in Sierra Tract to $1,700,000 for a beachfront property in Camp Richardson. South Lake Tahoe Homes Sold Here is a list of all homes that sold this week along with their selling prices and asking price (in parenthesis): 2613 Osborne Avenue, Sierra Tract Neighborhood, $131,500 ($138,500) 1032 Cellador...Continue Reading!
The August real estate figures are in for South Lake Tahoe and there are no surprises. We continue to see increased sales, decreased new listings and decreased number of homes on the market. The only thing that really isn't following the expected pattern is the median home price of homes sold in the area. Increased Sales of Tahoe Homes There was a 37.5% increase of homes sold in August 2012 over August of 2011. If you look at the whole year ending...Continue Reading!
The National Association of Realtors (NAR) released their monthly report, and the national news is much as it is in Lake Tahoe: "Sales of existing homes rose in July even with constraints of affordable inventory." Their report stated that monthly sales rose in every region but the West, where inventory is very tight. Low Inventory of Homes in Lake Tahoe Inventory of homes for sale in South Lake Tahoe is indeed very tight but sales have still been very strong. Home sales...Continue Reading!
Perhaps we're starting to sound like a broken record since each month's Lake Tahoe real estate sales figures continue to outshine the figures from the month before. Closed Home Sales Rise Once again, closed sales figures for the year ending July, 2012 saw an increase over the same period the year before. Between August 2011 and July of 2012 there were 730 home sales in South Lake Tahoe. The same period the year before had 651 sales, resulting in an increase of...Continue Reading!
New listings of foreclosed homes for sale in Lake Tahoe continue to drop though this isn't the case across the United States. The number of U.S. homes entering the foreclosure process for the first time increased for the second month in a row according to RealtyTrac Inc. Increase in Foreclosure Starts in U.S. The increase in foreclosure starts as banks are making up for time lost last year when the mortgage industry was trying to figure out what to do amidst allegations...Continue Reading!
Closed Home Sales on the Rise It appears that the South Lake Tahoe real estate recovery trend is continuing, based on figures just in for the month of June. Closed home sales saw a dramatic increase, both over last year's sales figures as well as those from last month. In June of 2012 there were 81 closed home sales, the highest figure in over 6 years! If you break apart the figures and look at sales in the different price ranges,...Continue Reading!