South Lake Tahoe Real Estate Market Report for August 2011

Posted 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).

 Aug-11Jul-11Jun-11
Units Sold414349
Total Dollar Value Sold$14,085,880$12,772,200$19,345,649
Average$343,558$297,028$394,809
Median$325,000$235,000$285,000
Percentage From Last Month's Median36.84%-17.54%0.00%
High$759,900$900,000$2,630,000
Low$80,000$90,000$70,000
Average Price Per Square Feet$192$179$191
Average Days On Market139131194
Distressed Home Sales:   
REO's (bank owned/foreclosed homes)111616
Short Sale6811

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.

 Aug-11Jul-11
Under $199,999615
$200,000-399,9992017
$400,000-599,999127
$600,000-799,99933
$800,000-999,99901

This is a breakdown of the area and the median sold price that the consumers bought for August.  The highest median sold price was in Tahoe Keys and the lowest median sold price was in Black Bart.

 Aug-11Units Sold
Al Tahoe 0
Bijou 1 0
Bijou 2$403,0001
Black Bart$80,0001
Christmas Valley 1$294,0212
Christmas Valley 2$275,0003
Echo View Estates$330,0001
Country Club Estates$487,5002
Gardner Mountain$504,5002
Heavenly Valley$470,0001
Highland Woods$340,0001
Meyers 0
Montgomery Estates$325,0003
N Upper Truckee 1$305,0005
N Upper Truckee 2$357,5001
Pioneer Trail$355,0002
Pioneer Village 0
Sierra Tract$164,6003
Sky Meadows 0
Stateline$300,0001
Tahoe Island Drive$222,0004
Tahoe Island Park 0
Tahoe Keys$539,0004
Tahoe Meadows 0
Tahoe Paradise$260,0001
Y Area$210,0003

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:9/18/20118/3/20117/5/2011
Active393421396
REO's434232
Short Sale373740
Pending1169382
Non-Distressed homes554331
(Total Dollar pre-closing value)$42,133,779$31,755,226$27,653,888
REO's241414
Short Sale373637
(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.

~Grace

*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.

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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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