Here is the Monthly Real Estate Market Update for the Month of August, year of 2011 for the area of South Lake Tahoe, California.
As of August 31st we had a total of 482 Residential Properties in the Market, including single family and condos, with an average price of $714,825.
In that same group (Residential Properties including single family and condos), we had a total of 71 New Listings entering the Market in the month of August. The average price for new listings this month was $380,556, with an average price per square feet of $211.
From 482 Listings, 71 Properties went into escrow, 16 of them being a Short Sale. The average price for the homes that went into escrow this month was $357,162, with an average price per square feet of $214 and they were an average of 104 days in the market.
In August, 48 Homes were SOLD. The average sale price for the homes that were sold this month was $315,904 with an average price per square feet of $186 and an average of 149 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.