Paradise Real Estate

We’re seeing closed homes sales at much higher rates

The news is good:  Closed home sales in December reached an 11 month high in 2011!  Reuters published this article today that shows the figures around the country much like those in South Lake Tahoe.

South Lake Tahoe real estate on the California side saw 71 homes sales in December of 2011.  34 of those homes were traditional sales, 23 were foreclosures and 14 were short sales. In December of 2010, there were 52 sales:  23 traditional, 22 foreclosures and 7 short sales.  The same period in 2009 had 51 sales of which 28 were traditional home sales, 15 foreclosures and 8 short sales.

Closed sales of all Tahoe homes were up for the whole year as well: 674 sales in 2011, 631 in 2010 and 507 in 2009.

This is good news for our local economy!  People have faith in the real estate market once again and are purchasing homes in South Lake Tahoe.

Why should you buy a home in Lake Tahoe now?  With sales on the rise and the supply of homes on the market at a low things are only going to be more competitive.  We’re seeing a lot of multiple offer situations on homes now, and if the supply continues to decrease the market will continue to see more offers on each South Lake Tahoe home for sale.  In December of 2011 we had a lower supply of homes on the market than we’ve had in the last 6 years.

I have lists of foreclosures/bank owned homes and short sale homes on my website.  You can even sign up for email alerts so you’ll be the first to know when a new listing comes to the market or when there is a price reduction. Contact me and let me know what you’re looking for.  I would enjoy acting as your Real Estate consultant to help locate the home that best fits your needs.

This entry was posted on Friday, January 20th, 2012 at 2:17 pm and is filed under Lake Tahoe Real Estate News. 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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