South Lake Tahoe Real Estate Market Report for August 2011Posted by The Yee Hedley Group on Sunday, September 18th, 2011 at 3:51pm.
South Lake Tahoe Real Estate Market Report 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).
|Total Dollar Value Sold||$14,085,880||$12,772,200||$19,345,649|
|Percentage From Last Month's Median||36.84%||-17.54%||0.00%|
|Average Price Per Square Feet||$192||$179||$191|
|Average Days On Market||139||131||194|
|Distressed Home Sales:|
|REO's (bank owned/foreclosed homes)||11||16||16|
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, I would recommend you working closely with one of our buyers' specialists to stay on top of this market.
|Christmas Valley 1||$294,021||2|
|Christmas Valley 2||$275,000||3|
|Echo View Estates||$330,000||1|
|Country Club Estates||$487,500||2|
|N Upper Truckee 1||$305,000||5|
|N Upper Truckee 2||$357,500||1|
|Tahoe Island Drive||$222,000||4|
|Tahoe Island Park||0|
South Lake Tahoe Real Estate Activity Forecast:
I personally like to see what the current South Lake Tahoe real estate activities are like. 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|
|(Total Dollar pre-closing value)||$42,133,779||$31,755,226||$27,653,888|
|(Short Sale pre-closing value)||$11,751,179|
Did you know that you can now look at sold data for South Lake Tahoe real estate? Yes, now you can check for sold data up to a year. You can also narrow down by area and type of property. Try it out, it's a cool feature!
Please feel free to contact us today if you'd like more information about our South Lake Tahoe real estate market. Thanks and we welcome your comments.
*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.
The Yee Hedley Group
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