Lake Tahoe Real Estate Update – South Lake Tahoe homes sold this week

homes for sale in lake tahoeSouth Lake Tahoe real estate news for the weeks of January 10-24 2013:  15 homes closed escrow in South Lake Tahoe.  There were 72 closed escrows in November, up from 50 in November 2011 and 50 closed sales in December, down from 2011’s 71 sales, I’m guessing that is because this year our December weather was more severe than last year. For the year, 765  homes closed escrow in 2012, up 13.5% from 2011 when 674 homes sold.

The selling prices of homes that closed over this 14 day period ranged from $125,000 for both a 2 bedroom short sale home and a 2 bedroom short sale condo to $595,000 for a 3 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):

3359 Janet Drive, Bijou Neighborhood, $125,000 ($150,000) – Short Sale

681 Eloise Avenue #2, Tahoe Island Drive Neighborhood, $125,000 ($149,000) – Short Sale

1946 Toppewetah, Upper Truckee Neighborhood, $185,200 ($178,000) – Bank Owned

1173 Margaret Avenue, Y Area Neighborhood, $192,000 ($199,900)

1267 Tata Lane, Y Area Neighborhood, $208,000 ($217,000)

2465 Cougar Trail, Montgomery Estates Neighborhood, $227,500 ($239,000)

1725 Thunderbird Court, Country Club Estates Neighborhood, $252,000 ($264,900) – Bank Owned

2481 Bernice Lane, Montgomery Estates Neighborhood, $275,000 ($279,000)

1136 Wildwood Avenue, Bijou Neighborhood, $284,000 ($299,000)

1004 Turnback Trail, Montgomery Estates Neighborhood, $345,000 ($350,000)

1905 Apalachee Drive, Pioneer Trail Neighborhood, $385,000 ($399,900)

3535 Lake Tahoe Blvd. #498, Bijou Neighborhood, $425,000 ($439,800)

1512 Meadow Vale Drive, Country Club Estates Neighborhood, $440,000 ($459,000)

737 Lassen Drive, Tahoe Keys Neighborhood, $459,000 ($465,000)

2159 Inverness Drive, Tahoe Keys Neighborhood, $595,000 ($599,000)

We are seeing some homes sell at, close to, or over their asking price, as was the case this week.  I’ve told buyers that they need to look at these traditional, non-distressed sales as there have been some good deals and there just aren’t many short sales or 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. 58 in October, 72 in November and 50 in December.  Since there are currently 70 South Lake Tahoe homes in the middle of escrow and just 140 homes on the market. I believe we’ll continue to see strong closed sales.  View all sales in the last year. The final real estate figures for December show that sales slowed down a bit but are still very strong.  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 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.