On target with South Lake Tahoe, CA 2011 home sales to date.
(Lake Tahoe Real Estate Blog / May 13, 2011 / Richard Bolen)
Here is the latest on South Lake Tahoe, CA real estate trends and conditions as of right now.
In summary, there were 3 more homes sold last year as of May 13 than this year.
There is a slight increase in the incidence of distressed properties sold of a little less than 3%.
There is a decline i in the 2011 median sold price compared to 2010, which is really great news for home buyers, of $14,000, or 4.6%.
Over the last 180-days, however, the median sold price is $285,000, or $10,000 higher than it is for this year to date.
This is based on sales over last 180-days not including Tahoe Keys. If Tahoe Keys is included the decline is $27,000, or 8.4%.
The difference the Tahoe Keys makes on the overall current South Lake Tahoe, CA median sold price is 5.8%. That difference for all of 2010 was 6.26%.
Number Home Sales : (single family homes only, including the Tahoe Keys)
- 2011 homes sold to date: 161
- At this time last year: 164
- 2010: 507
- 2009: 436
- 2008: 354
- 2007: 373
- 2006: 438
Number Distressed Sales : (single family homes, including the Tahoe Keys, bank owned or short sales only)
- 2011: 79, 49.1% of total homes sold to date.
- 2010:: 235, or 46.4% of total homes sold.
- 2009: 175, or 40.1% of total homes sold.
- 2008: 89, or 20% of total homes sold.
Median Sold Price :
All homes sold in 2011 to date:
- Including Tahoe Keys: $291,000
- Not including Tahoe Keys: $275,000
What it was for all of 2010:
- Including Tahoe Keys: $319,000
- Not including Tahoe Keys: $299,000
All homes sold in the last 180-days:
Including the Tahoe Keys: $299,000
Not including the Tahoe Keys: $285,000
The difference here is $14,000, or 4.9%.
The chart below indicates South Lake Tahoe home sales per month since 2003.
This is the median sold price in South Lake Tahoe, CA since April, 2007.
Previous posts of interest:
Nov 15, 2010: On Target w South Lake Tahoe, CA real estate market conditions
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?
November 24, 2008: Sometimes South Lake Tahoe and National Real Estate Trends just don't Jive
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