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South Lake Tahoe Real Estate Listings Update: Lake Village, NV

By Gary Bolen

Real Estate Agent with McCall Realty

April 27, 2011 11:11 AM

Current Real Estate Activity: Lake Village townhomes & condominiums, Stateline, NV area of South Lake Tahoe.

(Lake Tahoe Real Estate Blog / April 22, 2011 / Richard Bolen)

We’ve just updated all Lake Village (NV) townhomes and condominium real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2010 sales, current escrow and all active listings. Please note “Lake Village (NV)” found in our left sidebar.

Set amid a gentle alpine hillside forest, Lake Village is a quiet, sedate, well-planned, highly desirable condominium / townhome community. Properties range from affordable townhouses to large, vaulted ceiling, lake-view sunset-in-your-face retreats. Many of the properties in Lake Village are used as vacation homes and some have offered significant vacation rental income over the years. There are a few less than 350 townhomes here.

There are numerous floor plans and configurations here, ranging from a bit less than 1,000 square feet to as much as 4,000 square feet on three floors. Most Lake Village townhomes do not have a garage, but those that do are highly sought and normally at the high end of the Lake Village price range.

One of the great features of this community is its central location to all things good about South Lake Tahoe, including of course our nightlife, entertainment and 4-season recreation attractions. Here, one is minutes from gaming, live performances and the ski slopes. Of these we have our favorites, but what about yours?

Townhome sales in the current market climate have leveled off from our highs in 2004 and 2005, Where there were as many as 30 sales a year. There's less activity now, but the first third of 2011 has already given us half of all sales last year, and last year there were more sales than the year before. So demand is inching up since our 2008 low.

In the last four years the least costly Lake Village townhome sold for $180,000, a bank owned distressed sale that sold in 2009. The highest sale was for $1M, an exquisite lake view townhome that sold in 2008. Since then the nearest a sale has come to that was $625,000 in 2009.

At present there is one Lake Village townhome listed under $300,000, and the median sold price has returned from the low of $266,250 last year to $310,000 so far this year, and counting

2011 Lake Village townhome or condo sales, here.

2010 Lake Village townhome or condo sales, here.

Current Lake Village, Stateline, NV townhome or condos in escrow, here.

Current Lake Village, Stateline, NV townhome or condos listed, here.

Fly-in to Lake Village from outer space, here.

Also note that we have added information about distressed sales to this report, which can be found in the "special conditions" column on our neighborhood spreadsheets.

Lake Village Sales Recap :

There have been 6 Lake Village townhome or condominium sales in 2011 at present. Three of these were distressed properties. This is half of the Lake Village sales that were recorded in 2010.