South Lake Tahoe Real Estate Market Report for September 2012Posted by The Yee Hedley Group on Wednesday, October 10th, 2012 at 2:28pm.
South Lake Tahoe Real Estate Market Report for September 2012
We had another great month in single family home sales in South Lake Tahoe for September 2012. There were 78 units sold with a total dollar value sold at $25,988,856. Out of the 78 homes sold, there were 8 REO/foreclosure units sold and 17 short sale units sold.
The highest priced home sold was a lakefront home in Camp Richardson area for $1,700,000. The lowest priced home sold was a two bedroom cabin in Bijou 1 area for $87,000.
The hot price range is $200,000 to $399,999 with 40 units sold. Second place price range is up to $199,999 with 20 units sold. Third place price range is $400,000 to $599,999 with 12 units sold.
The forecast for the South Lake Tahoe real estate market as of today, there are 121 single family homes pending with a pre-closing total dollar value of $46,965,981. There are 10 REO/foreclosure units pending and 36 short sale units pending.
The highest list price pending is a waterfront home for sale in Tahoe Keys area for $2,850,000. The lowest list price is a one bedroom cabin for sale in Bijou 1 area for $65,000.
Currently, there are 199 single family homes for sale in South Lake Tahoe. This is low compared to the past. Our distressed market is getting very low as well with only 8 REO/foreclosure homes for sale and 10 short sale homes for sale.
There are 7 lakefront homes for sale with the lowest price at $1,150,000 and the highest price at $5,250,000 both in Stateline area.
Over all, our market is recovering for the past few months and the demand is catching up to our supply.
If you're in the market to buy in the most desirable price ranges, please be aware that that market moves fast and pending in a few days. Most of the time there are multiple offers. The key is to be prepared for opportunities. If you need a loan to purchase a home in South Lake Tahoe then the first thing you need to do is get qualified.
The next thing to do is to be available to see the property as soon as you can. If you can't do that don't worry...we've got you covered. We offer full service for our buyers. We can provide additional photos and videos, so you won't miss out on your opportunity to buy your dream home in South Lake Tahoe. Ask us for more information.
Another recommendation I would give if you haven't done so already is to sign up for new listing watch on our website by signing up with Get New Listings Via Email. You can customize and save your search criteria when you sign up. You'll get email notifications for new listings or changes with a listing that meets your criteria within 24 hour of being upload in our MLS. This is a great way to stay on top of our South Lake Tahoe real estate market.
Call us today for more information on South Lake Tahoe real estate market or if you'd like to schedule for a showing appointment. We look forward to helping you purchase your dream home in Lake Tahoe.
Information taken from South Tahoe Association of Realtor. Information deemed reliable but not guaranteed. DOM may not reflect total days property has been on market.
Sometimes a listing does not show up because the listing agent did not want it publish to IDX.
Areas included in this report are South Lake Tahoe, Meyers, Camp Richardson, Cascade Properties, Emerald Bay, and Fallen Leaf.
The Yee Hedley Group
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