South Lake Tahoe Real Estate Market Statistics for August 2011

By
Real Estate Agent with Chase International

South Lake Tahoe Real Estate Market Statistics for August 2011

For those of you who know me, you know I can totally geek out with statistics and charts, so bear with me.  How I see it is, you can never have too much information.  Information is what helps us to make the right decision.  In this case, is it a good time to buy real estate in South Lake Tahoe?  Take a look and you decide.

August 2011 Single Family Home Sold Statistics:

I've also included sold statistics for July and June for comparison.  As you can see our numbers picked up for August compared to July.  I have a feeling September numbers will look good as well (see below to my South Lake Tahoe Real Estate Forecast chart).

  Aug-11 Jul-11 Jun-11
Units Sold 41 42 49
Total Dollar Value Sold $14,085,880 $12,673,200 $19,345,649
Average $343,558 $301,743 $394,809
Median $325,000 $237,500 $285,000
Percentage From Last Month's Median 36.84% -16.66% 0.00%
High $759,900 $900,000 $2,630,000
Low $80,000 $90,000 $70,000
Average Price Per Square Feet $192 $182 $191
Average Days On Market 139 133 194
Distressed Home Sales:      
REO's (bank owned/foreclosed homes) 11 15 16
Short Sale 6 8

11

Sold Price Survey:

I did a breakdown of the price point for single family homes sold for August and July.  I think this is a great way to see what the competition is like in your price point.  If you're in the market for homes in that price range up to $300,000, then you have some competition.  Whether you're looking to buy or sell in this price point, we would love the opportunity to work with you to help you stay on top of this competitive market.

  Aug-11 Jul-11
Under $200,000 7 15
$201,000-300,000 11 12
$301,000-400,000 9 5
$401,000-500,000 6 4
$501,000-600,000 6 2
$601,000-700,000 1 2
$701,000-800,000 1 1
$801,000-900,000   1

South Lake Tahoe Area Market Survey:

This is a breakdown of the area and the median sold price that the consumers bought for August.  The highest median sold price was in Tahoe Keys and the lowest median sold price is in Black Bart.

  Aug-11 Units Sold
Al Tahoe   0
Bijou 1   0
Bijou 2 $403,000 1
Black Bart $80,000 1
Christmas Valley 1 $294,021 2
Christmas Valley 2 $275,000 3
Echo View Estates $330,000 1
Country Club Estates $487,500 2
Gardner Mountain $504,500 2
Heavenly Valley $470,000 1
Highland Woods $340,000 1
Meyers   0
Montgomery Estates $325,000 3
N Upper Truckee 1 $305,000 5
N Upper Truckee 2 $357,500 1
Pioneer Trail $355,000 2
Pioneer Village   0
Sierra Tract $164,600 3
Sky Meadows   0
Stateline $300,000 1
Tahoe Island Drive $222,000 4
Tahoe Island Park   0
Tahoe Keys $539,000 4
Tahoe Meadows   0
Tahoe Paradise $260,000 1
Y Area $210,000 3

South Lake Tahoe Real Estate Activity Forecast:

I personally like to see what the current activities are like and coupled with the sold statistics I find it useful to see the full picture of what our South Lake Tahoe real estate market is like and what to expect.  Looking at the total dollar pre-closing value for July and August that seems to be in line with the final closing sold statistics (go on top for Sold Statistic chart).  Then September closing numbers should look good as well.  Stay tuned...

Date forecast was performed: 9/18/2011 8/3/2011 7/5/2011
Active 393 421 396
REO's 43 42 32
Short Sale 37 37 40
Pending 116 93 82
Non-Distressed homes 55 43 31
(Total Dollar pre-closing value) $42,133,779 $31,755,226 $27,653,888
REO's 24 14 14
Short Sale 37 36 37
(Short Sale pre-closing value) $11,751,179    

*Data taking from South Tahoe Association of Realtors MLS. Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market.

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Rainmaker
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Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Hi Brandon and Grace, great detail market report. These are very affordable housing prices. I hope you will have many sales in September and the months to come.

Sep 19, 2011 01:21 PM #1
Ambassador
1,376,083
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

Looks like there's a huge improvement from July to August. That's always a good sign.

Sep 20, 2011 03:01 AM #2
Rainmaker
101,808
Brandon & Grace Yee
Chase International - South Lake Tahoe, CA
Lake Tahoe Real Estate

Hi Eileen,


Thank you.  Yes, Lake Tahoe offers many price point homes and it's great buyers are taking advantage of that.  Thanks again for stopping by.  Have a great day!

Cheers,

Grace

Sep 21, 2011 04:44 AM #3
Rainmaker
101,808
Brandon & Grace Yee
Chase International - South Lake Tahoe, CA
Lake Tahoe Real Estate

Hi Loreena,

Thanks.  I'm eager to see how September closing numbers will come out.  Have a great day!

Cheers,

Grace

Sep 21, 2011 04:46 AM #4
Rainer
169,778
Menlo Park Real Estate and Homes for Sale
Wende Schoof - Menlo Park, CA
WendeByTheBay.com - 650.504.0219 - SF Peninsula

Grace (and Brandon), this is a great market update!  It gives a really good sense of the market, which looks like it's showing signs of improving.  Do you do this for the Nevada side: Kingsbury-Glenbrook, too?

Sep 24, 2011 05:51 AM #5
Rainmaker
101,808
Brandon & Grace Yee
Chase International - South Lake Tahoe, CA
Lake Tahoe Real Estate

Hi Wende,

Thank you.  Yes, that's something I'm working on.  I'll keep you posted.  Thanks for your comment.

Cheers,

Grace

Sep 24, 2011 12:11 PM #6
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Rainmaker
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Brandon & Grace Yee

Lake Tahoe Real Estate
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