South Lake Tahoe Real Estate Market Report Statistics for June 2011

Posted by The Yee Hedley Group on Thursday, July 14th, 2011 at 2:11pm.

We had a very good month for South Lake Tahoe single family home sale for June 2011. This is a huge jump up from May 2011 sale stats.

	Jun-11	May-11	Apr-11
Units Sold	49	35	38
Total Dollar Value Sold	$19,345,649	$11,087,200	$12,998,380
Average Sales Price	$394,809	$316,777	$342,063
Median	$285,000	$285,000	$314,500
Percentage From Last Month's Median	0.00%	-9.37%	2.77%
High	$2,630,000	$750,000	$1,300,000
Low	$70,000	$65,000	$65,000
Average Price Per Square Feet	$191	$183	$186
Average Days On Market	194	161	141
Distressed Home Sales
REO's (bank owned/foreclosed homes)	16	14	14
Short Sale	11	8	8

I think it's great to see what's sold, but what's equally important is to see what the Active and Pending activities look like. Especially, Pending, because that shows the kind of activities we're having and it's a forecast for what the sold stats will be like for that month.

I started compiling this information back in the beginning of May 2011 for myself, but I want to share this forecast with you so you can keep your eye on our South Lake Tahoe single family home market if you're on the fence of buying or selling a home.

	7/5/2011	5/9/2011
Active	396	286
REO's	32	25
Short Sale	40	32
Pending	82	84
Non-Distressed homes	31	25
Total Dollar Value (pre closing value)	$27,653,888	$12,970,749
REO's	14	18
Short Sale	37	41

If we look at the month of May forecast in Total Dollar Value (pre closing value) was at $12,970,749 and look at May's closing (see the first chart) at $11,087,200, there's a difference of -$1,883,549 that is most likely due to short sales that have not closed yet.

Now, July's forecast in Total Dollar Value (pre closing value) is at $27,653,888 which is a healthy sign for what July can close at, so keep your eye out for my July Market Report Statistics in early August.

I didn't get a chance to do early June 2011 forecast, because I was traveling abroad for the month of June.

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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.