June South Lake Tahoe Real Estate Statistics

By
Real Estate Sales Representative with Chase International South Tahoe Realty

The South Lake Tahoe Real Estate market had an excellent month in terms of transactions closed in June. There were 77 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. The number of homes sold in June was up from 66 sales in May and well above June 2011 when 59 properties were sold. 

 The real estate market continues to be very active, but we are still struggling with a low inventory of homes for sale. There are currently only 234 single family homes that are listed on the MLS as "active" listings in the city and county areas of South Lake Tahoe. There are 365 total single family listings, but 130 of them are in escrow (36%). With the low inventory of properties for sale in South Lake Tahoe, buyers are still dealing with multiple offer situations on homes that are priced to sell. There were as many as 13 offers on some of the foreclosures that were priced below market value. Not all of the properties are getting buyer activity though. There are still properties on the MLS that have been listed for a few years now that are not priced where they need to be.

June South Tahoe Real Estate Statistics

  • There were 77 single family homes and condos that were sold on the South Lake Tahoe MLS in June 2012, up from 66 in May and up from 59 in June 2011.
  • The median sales price was $225,000, down from $247,775  in May and down from $280,000 in June 2011.
  • The average sales price was $279,311, down from $349,102 in May and down from $374,119 in June 2011.
  • The average price per square foot was $177, down from $190 in May and down from $196 in June 2011.
  • The average days on the market was 146 and the median days on the market was only 91.

Foreclosures in South Lake Tahoe

  • There were 18 bank owned foreclosures in South Lake Tahoe that were sold in June, up from 17 in May.
  • The average sales price of the foreclosures was $200,036, down from $211,258  in May.
  • The median sales price was $174,000, down from $193,800 in May.
  • The average days on the market was 73 and the median days on the market was 65.
  • The average price per square foot was $140, down from $142 in May.

Short Sales in South Lake Tahoe

  • There were 16 Short Sales in South Lake Tahoe that were sold in June, up from 12 in May.
  • The average sales price of the short sales was $279,188, up from $256,611 in May.
  • The median sales price of the short sales was $230,500, up from $226,668 in May.
  • The average price per square foot was $168, the same as it was in May.
  • The average days on the market was 206 and the median days on the market was 193.

With 130 properties still in escrow on the South Lake Tahoe MLS, July should be another good month for closings. For more information about the South Lake Tahoe Real Estate market, please call Brent Johnson at (530) 416-2625!

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