Market Conditions Essentially Steady for last 3 weeks.
(visit our Lake Tahoe real estate blog: www.laketahoerealestateblog.com)
South Lake Tahoe, CA. Absorption rates in South Lake Tahoe, CA have remained steady for the last three weeks ("Absorption Rates"). Since our last update on February 20, 2007, there has been a slight uptick in the 30-day absorption rate, from 21 to 30 homes sold. The monthly absorption rates for 365, 180 and 90 days remain basically unchanged, each within a difference of one sale per month or less.
The increase in the number of total sales, from 21 to 30, as a 30-day performance indicator is encouraging, though the number of sales in these last 30 days is still 7 sales per month less than the 365 and the 189 day performance indicators, both at about 37 sales per month.
The current inventory remains virtually the same, though the slight increase in the last 30-day performancehas improved the current monthly inventory (number homes listed divided by monthly absorption rate) from 17.4 to 12.2 months. With six months of inventory indicating a neurtal market, our inventory load at present still indicates a Buyers market.
Stateline, NV. Absorption rates in Stateline, NV have also remained steady for the last three weeks. Since our last update on February 20, 2007, there has been a slight dip in the 30-day absorption rate, from 7 to 5 homes sold. The monthly absorption rates for 365, 180 remain essentially identical, and the 90-day performance level has dropped from 5.7 to 4.3 homes sold. There is no increase in market performance since our last update three weeks ago.
The current inventory is 12 homes less than it was three weeks ago, and the slight decrease in the last 30-days performance has affected the current monthly inventory (number homes listed divided by monthly absorption rate) from 18.1 to 23 months. With six months of inventory indicating a neurtal market, our Stateline inventory load continues to strongly say we remain in a Buyers market.
Comments(1)