Even though the seasons in Lake Tahoe changed in April, the home sale’s figures didn’t change too much from those in the prior month. We’re seeing a stabilization of closed sales, median sales price and many other metrics that I analyze. When compared to the prior year, we’re seeing more signs of a continuing recovery of the housing market in South Lake Tahoe.
Median Sales Price and Closed Sales of Homes Sold in South Lake Tahoe
There were 57 closed sales in April which is up slightly from last month but down from the prior year. Over the last 12 months, 732 homes were sold which is down 6% from the prior year. As I’ve been mentioning in previous articles, this was expected when we have a reduction in inventory of homes for sale
The median sales price of single family homes sold in April was $350,000 while condos had a higher selling price with their median at $371,500. When looking at figures from the past 12 months (which gives a clearer picture), the median rose over 20% for both homes and condos.
New Listings and Inventory of Homes for Sale
South Lake Tahoe actually had a slight increase in the number of homes for sale over the past 12 months. Between May of 2012 and April 2013 there were 339 homes for sale. During that same period this year there were 348 homes for sale.
There were 99 homes listed for sale in April which brought the figure of home’s listed for the year to 1,064 which is an increase of 17% over the previous year.
It may seem strange that so many homes are listed, yet our inventory stays so low. This is due to the strong sales and that keep numbers down.
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