The Most South Lake Tahoe, CA Home Sales Since 2005.
(Lake Tahoe Real Estate Blog / August 30, 2012 / Richard Bolen)
Yes, South Lake Tahoe housing demand is on it's most torrid pace since our market high 7 years ago. This is a good thing for our housing market indeed.
What's perhaps even better for today's South Lake Tahoe home buyer is interest rates are still astoundingly low (about 3.5%), and South Lake Tahoe home prices are still very, very low. The median sold price of home sales in the last 180-days is $226,000. Last April it was $220,000, and in February it was $225,000. Last December it was $231,500.
South Lake Tahoe, CA 2012 Home Sales to date:
As of today there have been 426 single family home sales this year. Considering monthly home sale averages since 2003 for the rest of this year, we are on a pace of 625 to 650 total home sales for 2012.
This is the most South Lake Tahoe, CA home sales in any one year since 2005. If demand continues to increase throughout the remainder of this year, it is possible we could reach home sales levels of 2003, which had 663 South Lake Tahoe, CA home sales.
If so, only 2004 and 2005 produced more home sales in South Lake Tahoe than this year. Ever!
The Chart Below:
All South Lake Tahoe, CA home sales since 2003.
Some previous Lake Tahoe Real Estate Blog posts you may find of interest.
Apr 17, 2012: A Detailed Look at South Lake Tahoe, CA Housing Demand
Mar 30, 2012: A South Lake Tahoe, CA Neighborhood Home Value Study
Feb 10, 2012: The Characteristics of the South Lake Tahoe, CA median sold house
Oct 19, 2011: The South Lake Tahoe House Now and Then