South Lake Tahoe real estate update: Homes that closed escrow this week

real estate lake tahoeSouth Lake Tahoe real estate news for the week of November 29-December 5, 2012:  13 homes closed escrow in South Lake Tahoe. This is three times over last week’s number.  There were 72 closed escrows in November, up from 50 in November, 2011. To date, there have been 690 closed escrows in 2012 while there were 538 during the same period in 2011.

The selling prices of homes that closed this week ranged from $100,000 for a 2 bedroom cabin in the Sierra Tract neighborhood to $900,000 for a 4 bedroom waterfront home in the Tahoe Keys.

South Lake Tahoe Homes Sold

Here is a list of all homes that closed escrow this week along with their selling prices and asking price (in parenthesis):

2652 Pinter Avenue, Sierra Tract neighborhood, $100,000 ($110,000)  – Short Sale

1884 Delta Street, Y Area Neighborhood, $135,000 ($129,900) – Bank Owned

1284 Mountain Meadow Drive, Upper Truckee Neighborhood, $156,000 ($156,000)

556 Eloise Avenue, Tahoe Island Drive Neighborhood, $165,000 ($160,000)

824 Julie Lane, Gardner Mountain Neighborhood, $210,000 ($172,000) – Bank Owned

843 Placer Avenue, Al Tahoe Neighborhood, $249,000 ($249,900)

831 Placer Avenue, Al Tahoe Neighborhood, $265,000 ($279,000)

1295 Timber Lane, Heavenly Valley Neighborhood, $335,000 ($335,000)

1084 Sundown Trail, Montgomery Estates Neighborhood, $350,000 ($309,990) – Bank Owned

802 San Jose Avenue, Al Tahoe Neighborhood, $405,000 ($442,858)

1596 Glenwood Avenue, Bijou Neighborhood, $435,000 ($449,000)

432 Christie Drive, Tahoe Keys Neighborhood, $510,000 ($549,000) 

1771 Venice Drive, Tahoe Keys Neighborhood, $900,000  ($998,000 ) 

We are seeing some homes sell at, close to, or over their asking price, as was the case this week.  All 3 foreclosures sold for over their asking price.  I’ve told buyers that they need to look at these traditional sales as there have been some good deals and there just aren’t many short sales and foreclosed homes for sale in Lake Tahoe.

These numbers will paint a clear picture:

As I’ve been discussing recently, home sales have been up and inventory down, and these numbers show that sales are continuing to move at a strong pace. 85 South Lake Tahoe homes closed escrow in the month of September, 58 in October and 72 in November.  Since there are currently 94 South Lake Tahoe homes in the middle of escrow I believe we’ll continue to see strong closed sales.  View all sales in the last year. The final real estate figures for November were released and they show sales up, inventory down and now the median sales price rising. Foreclosures are also down throughout Lake Tahoe and the state of California.

Here are 3 ways to get the best deals in South Lake Tahoe real estate

You can see by the above figures that homes are selling.  This is a great time to purchase a home in Lake Tahoe.  If you are looking to buy and want to get a head start on the  good deals, I suggest you do the following:

  1. Sign up for email notifications of the Lake Tahoe MLS new home listings.  You will be notified of homes coming on the market the moment they are listed.  You will know as soon as the agents know.
  2. Another way to find out about the Lake Tahoe real estate market is to sign up to receive my blogs via email.
  3. Receive my monthly newsletter.

Request more information on real estate in Lake Tahoe by contacting Dan Spano directly.