Paradise Real Estate

January Lake Tahoe Home Sale Report

My website has some great reports you can look at that will give you insight into the current South Lake Tahoe real estate market. You will see there that in the last 365 days there were 684 homes sold in the South Lake Tahoe, California area. The average listing price was $336,016 and the average selling price was $312,797.  The average home was on the market for 167 days.  While in this report you can click on any neighborhood and see details about each home that sold.

Overall, the prices of homes for sale in Lake Tahoe were at the lowest in a very long time.  January 2012′s average priced home for sale was $225,000 where January of 2011 was at $288,000 and January of 2010 was $317,500.  Closed home sales dropped in January of 2012 to 43 which was a 10% drop from the same time in 2011.  January of 2010 saw 41 closed sales.  The drop in January of this year came off of a huge December where there were 71 closed sales. Not to worry though, January is historically lower than December, which can be attributed to many reasons from the holidays, weather and rush for year end sales for tax purposes.

January also saw a drop in the number of homes for sale.  At the end of the month there were 534 homes for sale which is 7.2% fewer than January of 2011.  The month’s supply of homes for sale in South Lake Tahoe continues to drop as well.  What does this mean?  A month’s supply tells you how many months it would take for all of the current homes for sale on the market to sell, given a monthly sales volume.  4 to 5 months of supply is average so if the months supply is lower than this it is a seller’s market and higher is a buyers market (more sellers than buyers). With this number dropping from last year’s 11.4 months to this year’s 9.6 (and 2010′s 15.1) this means there are still more sellers than buyers but we’re getting closer to average and closer to it turning into a seller’s market.

With the multiple offers we’re seeing on South Lake Tahoe properties this is a great time to buy.  People want to get a piece of paradise in Lake Tahoe without having to pay the prices seen in the Tahoe market about 6-7 years ago.

A search on my website will give you all Tahoe homes for sale in South Lake Tahoe California and Nevada.  You can quickly sign up for email notifications.  You set the criteria of homes you are looking for and you’ll get a daily (or weekly, you set the timing) list of all homes that meet your specifications.  You will also be alerted to all prices changes as well.

Contact me any time and I’d love to help you with any Lake Tahoe real estate questions you may have.

Dan Spano
530-541-2465
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This entry was posted on Wednesday, February 8th, 2012 at 10:00 am and is filed under Lake Tahoe Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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