Here is the Monthly Real Estate Market Update for the Month of May, year of 2011 for the area of South Lake Tahoe, California.
As of May 31st we had a total of 382 Residential Properties in the Market, including single family and condos, with an average price of $606,298.
In that same group (Residential Properties including single family and condos), we had a total of 110 New Listings entering the Market in the month of May (Almost twice as much as last month, the market is starting to pick up!). The average price for new listings this month was $530,164, with an average price per square feet of $292.
From 382 Listings, 51 Properties went into escrow, 11 of them being a Short Sale. The average price for the homes that went into escrow this month was $377,848, with an average price per square feet of $200 and they were an average of 129 days in the market.
In May, 39 Homes were SOLD. The average sale price for the homes that were sold this month was $309,595 with an average price per square feet of $183 and an average of 179 days in the market.
Please feel free to contact me if you have any questions regarding this Market Update or if you want me to provide a Market Update specific to your neighborhood.