South Lake Tahoe Real Estate Market Report for April 2011

Posted by The Yee Hedley Group on Monday, May 9th, 2011 at 4:54pm.

South Lake Tahoe Real Estate Market Report for April 2011

In our April 2011 South Lake Tahoe Market Report we're going to take a look at what we have currently on the market, homes that are in escrow (pending/in contract), and homes that sold for April 2011.

  • Homes currently active on the market: 286
  • REO's (bank owned/foreclosed homes): 25
  • Short Sale: 32

    The Good: only 19.93% are distressed homes

    • Homes in escrow: 84
    • Total dollar value (pre closing value): $12,970,749
    • REO's: 18
    • Short Sale: 41

    The Good: we're only in the beginning of May and we currently have 84 homes in escrow with the total dollar value of $12,970,749

    Break down of single family homes sold for April 2011 compared to March 2011:

    • The total units sold was 38 (down -6 from March 2011) 
    • The total dollar value sold was at $12,998,380 (down $-2,399,045 from March 2011)
    • The median sold price was at $314,500 (up about 2.77% from March 2011)
    • The average days on market was at 141 (down -12 days from March 2011)
    • The distressed sale for REO's units sold was 14 (down -3 from March 2011). Short sale units sold was 8 (up 5 from March 2011)
    The single family home sale statistics for April 2011 dipped down a bit from March 2011.  Although the South Lake Tahoe Market has seen numbers move in a minor few directions we're happy to take notice that the average median sales price for homes within the total time frame of October 2010 to April 2011 (see below to the line charts) is higher than the actual monthly average, signaling a potential uptick in values.  To back this up, there has been an increase in percentage of the median price in the most recent 2 months after a period of months in minor decline; sold prices are averaging higher dollar amounts for the last 4 consecutive months and average days of homes on the market has dropped consecutively for the last 3 months.

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        Units Sold384430
        Total Dollar Value Sold$12,998,380$15,397,425$10,703,100
        Average Sales Price$342,063$349,941$356,770
        Percentage From Last Month's Median2.77%13.67%-11.88%
        Average Price Per Square Feet$186$196$188
        Average Days On Market141153195
        Distressed Sales

        REO's (bank owned foreclosures)141710
        Short Sale83


        The line charts below shows what our South Lake Tahoe market has been like for the past seven months.


      *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.

        Search the entire South Lake Tahoe MLS for all homes for sale. 

        • Homes currently active on the market: 286
          • REO's: 25
          • Short Sale: 32
        • Homes in escrow: 84
          • Total dollar value (pre closing value) $12,970,749
          • REO's: 18
          • Short Sale: 41
      Brandon and Grace Yee
      The Yee Hedley Group
      530.318.5365 direct
      888.927.9511 efax
      Brandon Yee
      CA License #01439964

      Grace Yee
      CA License #01373609
      NV License #S.0167586
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