Housing Demand & Absorption Rates in South Lake Tahoe, NV

A Slight Increase in Housing Demand in Stateline, NV area of South Lake Tahoe.

(Lake Tahoe Real Estate Blog / February 10, 2010 / Richard Bolen)

We’ve just updated the Absorption Rates for the Stateline, NV side of our South Lake Tahoe real estate market.

In the last 365 days, market demand is an average of about 7.3 homes sold per month.

This chart contains market wide absorption rates, and a lot more.

For absorption rates by price range, plus current inventory, here.

Summary:

• In the last 180 days in the Stateline, NV market of South Lake Tahoe, the average number of homes sold per month is 5.7 (this same number was 5.8 a month ago).
• We have seen a slight decrease in home sales in the last 30-days (6 sales).
• In 2009, the average number of homes sold per month was 6.9.
• It will take almost 1.7  years to sell the current inventory at an absorption rate of 5.7 sales per month.

The Bottom Line:

• A year and a half of inventory is a  strong buyers market.
• Motivated Sellers will increasingly represent Excellent Opportunities for Buyers.

Number Sales : 

• There have been 88 homes sold on the Stateline, NV side of our South Lake Tahoe market in the last 365 days).

Annual Results: Total Number Sales is down significantly since our high in 2004.

• 83single family homes sold in Stateline, NV of South Lake Tahoe in 2009.
• 71 single family homes sold in Stateline, NV of South Lake Tahoe in 2008.
• 74 single family homes sold in Stateline, NV of South Lake Tahoe in 2007.
• 89 single family homes sold in Stateline, NV of South Lake Tahoe in 2006.
• 140 single family homes sold in Stateline, NV of South Lake Tahoe in 2005.
• 173 single family homes sold in Stateline, NV of South Lake Tahoe in 2004.
• 120 single family homes sold in Stateline, NV of South Lake Tahoe in 2003.

A Primer on Absorption Rates:
Our absorption rates indicate the total number of homes sold in a particular price range in the last 365, 180, 90 and 30 days.

The price ranges are in $50,000 increments up to $1M. After $1M, the price-range increases. For each price range, you will find:

• (1) the number of homes that have sold in a price range;
• (2) the monthly absorption rate, or the average number of homes sold per month;
• (3) the number of homes listed in that price range;
• (4) the number of months it will take to sell the current inventory.

There is also a FAQ to help one to better understand what absorption rates are and how they are used.

We offer this information as a public service. It is the most complete current information on the overall 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.

See the original article, "South Lake Tahoe, NV Housing Demand & Absorption Rates" on our main blog.