The $250,000 – $300,000 South Lake Tahoe, CA house is different today than it was.
(Lake Tahoe Real Estate Blog / July 5, 2011 / Richard Bolen)
The South Lake Tahoe median sold price is $270,400, which falls in the price range from $250,000 to $300,000.
The key characteristics of this price range are different today than they were last year, and much different then they were years ago.
Lets look at these characteristics in detail, but first here's…
The Bottom Line :
- Houses in this price range are 30% newer than they were 5 years ago.
- They are 99% bigger.
- They are 54% cheaper in price per square foot.
- Twice as many of them have sold in Q1 and Q2 this year than 5 years ago.
Now for the details:
Age:
The chart below shows that the $250,000 – $300,000 South Lake Tahoe, CA house of today is 1 year older this year than it was last year.
It is 4 years newer than it was in 2009, and 17 years, or 30% newer than the market high for this price range in 2006.
Size:
The chart below indicates the $250,000 – $300,000 house today is 108 square feet larger than it was last year (1,517 sq ft compared to 1,409).
It is more than twice as big as it was in 2006 (1,517 sq ft compared to 762).
Price Sq Ft:
The chart below indicates the $250,000 – $300,000 house today is $15 per square foot less than it was last year ($190 sq ft compared to $205).
It is $223 per square foot less than it was in 2006 ($190 sq ft compared to $413).
Number Sold:
The chart below indicates the following. There have been 32 homes sold in the $250,000 – $300,000 price range in South Lake Tahoe, CA this year.
This is less than half of the 77 homes sold in this price range in 2010.
From 2005 to 2007 65 homes sold in this price range combined.
The most homes sold in this price range in the last 9 years was 119 in 2003.
Some previous Lake Tahoe Real Estate Blog posts of you may find helpful:
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
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?
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