Five key South Lake Tahoe market indicators: Demand, Supply, Escrow, Prices, Absorption.

(LAKE TAHOE REAL ESTATE BLOG) Here's a summary of all key real estate market indicators for South Lake Tahoe,  CA.

Demand has increased slightly, which is consistent, not remarkable, for this time of year. Supply is up.

There are 10 fewer homes in escrow than there were at the end of June.

And prices are getting better for Buyers.

 Demand :

• There has been no increase in demand in the last 30 days: 32 home sales in the last 30-days.
• We normal ly see increases in buying appetite this time of year.

 Supply :

• There are 495 homes for sale right now.
• At current market performance rates, it will take 16.4 months to sell all of them.

 Escrow :

• There are    58    homes in escrow at present.
• There are 10 fewer homes in escrow than at the endo f June.
• The median price of current homes in escrow is $429,000.

 Prices :

• The Median Sold price for all home sales in the last 180 days is  $380,000 .
• Median Sold Price declined throughout all of 2007.  That is continuing thus far in 2008.
• There is a 17.3% reduction in the Median Sold Price since 2006.

 Absorption :

• The current average monthly absorption rate is 30.2 home sales per month (last 365 days).
• The South Lake Tahoe, CA real estate market averaged 31 home sales per month in 2007.
• This is a decline of   7  sales per month compared to 2006 (about 1/4 less demand).

Here are the details:

Demand:

• The total number of home sales for 2007 was 373.
• The total number of home sales in the last 365 days is 362.
• The total number of home sales in 2006 was 438.
• The total number of home sales in 2005 was 682.
• The total number of home sales in 2004 was 843.

Supply (Inventory)

• The current number of homes available for sale in South Lake Tahoe, CA is 495.

Escrow:

• The number of homes in escrow at present is 58.
• The number of homes in escrow at noted at various dates throughout 2007 ranged from 38 to 68.

Median Sold Price: (not including The Tahoe Keys)

• Median Sold Price for South Lake Lake Tahoe homes in 2007 was $425,000.
• Median Sold Price for South Lake Lake Tahoe homes in the last 180 days is $380,000.
• Median Sold Price for South Lake Lake Tahoe homes in the last 365 days is $392,500.
• Median Sold Price for South Lake Lake Tahoe home sales in 2006 was $460,000.
• Median Sold Price for South Lake Lake Tahoe home sales in 2005 was $455,000.

Monthly Absorption Rate (average number home sales per month)

• The South Lake Tahoe real estate market is averaged 31 home sales per month in 2007.
• For the last 365 days, the South Lake Tahoe real estate market has averaged 30.2 home sales per month.
• For the last 180 days, the South Lake Tahoe real estate market has averaged 29.7 home sales per month.
• For the last 90 days, the South Lake Tahoe real estate market has averaged 34.3 home sales per month.
• The South Lake Tahoe real estate market averaged 37 home sales per month in 2006.
• The South Lake Tahoe real estate market averaged 57 home sales per month in 2005.
• The South Lake Tahoe real estate market averaged 68 home sales per month in 2004.

What it all Means:

• Sold Prices have come down by 17.3% .
• South Lake Tahoe is a Buyers Market.
• There are  many excellent opportunities to Buy .