(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated the market performance for Stateline, NV, the Nevada side of our South Lake Tahoe real estate market. To best look at overall market performance, we provide you with market data for the last 365 days, plus separate looks at 180 days, at 90 days and the last 30 days.
The Spreadsheets:
The link “Stateline, NV - Market Performance” in our left sidebar will lead one to the data. The information is found on spreadsheets that contain all sales for each of the four time periods above: 365, 180, 90 and 30 days.
The Statistics Charts:
At the top of each of the sales spreadsheets is a link to a statistics chart that gives you an immediate look at the market conditions for that specific time period. As an example, we’ve displayed the statistics chart here for all sales in the last 365 days. Each of these statistics charts includes:
- Median Sold Price
- Average Sold Price
- Average List Price
- $ Difference List v. Sold
- % Difference List v. Sold
- Average Days on Market
- Average Price Sq Ft
- Average Size
Why Four Different Time Periods?
One of the reasons we provide the information in these 4 time periods is real estate market trends and conditions can span across years. Traditionally, one looks at a real estate market by year, 2007 for example. A real estate market, though, does not necessarily change, nor start or stop on the first of January. The market does not wake up after new year’s eve with a hang over, and a new year’s resolution: to lose weight, to be more considerate, and swear to all that will listen to be a much better market than it was the year before. It just continues and marches on until economic and consumer sentiment forces much more powerful than any given spot on a calendar changes it.
The later one gets into any one year, the more relevant the statistics for that given year become.
But one quarter does not a market make, and certainly not 30 days. We do have a link to all 2007 sales, but as you can imagine it is more relevant in July than it was in January or February, when there are such few sales.
A real estate market trend emerges out of data, the more the better.
Here in our second-home resort market in South Lake Tahoe, one has to consider average days on market as a basis of determining how much data, and for how long a period of time, one needs to get a good indication of current conditions. If one were looking at an suburban, primary home market where homes usually sell in less than 90 days, for example, then 6 months of data would certainly be sufficient to document a real estate market. But here in Stateline, NV, the average time it takes to sell a house at present is about 7 months. On the California side of our market it is somewhat less. This is why we provide you with data for the last calendar year.
It is certainly possible to foresee market fluctuations, or emerging change in less than 365 days. This is why we also provide these specific looks at 180, 90 and at 30 days. To best understand, and become comfortable with what our market is, and is not, we believe it’s important to look at all of these time periods, if nothing more than just for drill.
When looking at the data and statistics chart for the last 365 days specifically, it’s important to understand that the 365-day data includes all of the data for the three other time periods too. Correspondingly, this also means that when looking at the data and statistics chart for the last 180 days, the data for 90 days and 30 days is included within the 180 day statistics as well.
The Bottom Line: (all in the last 365 Days)
Here are the current market conditions as documented by the last 365 days:
- Demand is down: (Means opportunity for Buyers)
- There have been 76 single family home sales in the last 365 days.
- At present there have been 70 sales in 2007.
- There were 89 total sales in 2006, 140 total sales in 2005, 177 total sales in 2004 and 131 sales in 2003.
- Median sold price in the last 180 days is $854,000 (excluding Lake Front Properties and Glenbrook).
- It was $835,000 in 2006 and $775,000 in 2005.
- Average List Price in the last 180 days is $1,239,191.
- Average Sold Price in the last 180 days is $1,109,106.
- Average Days on Market in the last 180 days is 196.
- Average Sq. Ft. Price is $438.
- Average Size is 2,700 Sq. Ft.
We offer this information as a public service. It is the most complete and current information on the Stateline, NV side of our South Lake Tahoe Real Estate Market available.
If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Please comment in the box below)
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