Real Estate Market Report for 2011 – Black Bart neighborhood in South Lake Tahoe, CA

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 10 properties sold through the year of 2011 in the neighborhood of Black Bart. In 2010 there were 7 properties sold.

This is the number of homes sold each year in the black bart area
This is the number of homes sold each year in the black bart area

 

From the 10 properties sold last year year, 2 of them were short sales and 4 were foreclosures. Of 7 properties sold in 2010, 4 of them were foreclosures and none of them were short sales.

This is the number of traditional sales versus foreclosures and short sales over the last 3 years
This is the number of traditional sales versus foreclosures and short sales over the last 3 years

 

Of the 10 homes sold last year, the median home price is $255,000, the median home price in 2011 was down 3.8% from $265,000 during 2010. The average price per square feet of single family homes was $163, up from $155 price per sqft in 2010. The average days on the market was 157 days, compared to 100 days during 2010.

This is the Median Sales price for homes in the Black Bart Area over the last three years
This is the Median Sales price for homes in the Black Bart Area over the last three years

As for the list price to sold price ratio, the homes that sold in Black Bart during 2011 sold for an average of 81.8% of the original asking price. The list to sold ratio in 2010  was 94% of the original asking price, 13% more compared to 2011.

this is the percent of original listing price recieved for homes in the Black Bart Area over the last three years
this is the percent of original listing price recieved for homes in the Black Bart Area over the last three years

There were less homes for sale on the market in 2010 compared to 2011. The month supply in 2011 was 3 months of inventory, 6.5% up from 2010 that had a supply of 2.8 months worth of inventory.

This is the months supply of homes in the Black Bart Area over the last three years
This is the months supply of homes in the Black Bart Area over the last three years

There are currently 5 homes on the market within the Black Bart area as of February 15th, 1 of which is in escrow. The homes in escrow is listed for $185,000 with a $141 price per square feet. The home in escrow is a 4 bedrooms/2 baths/ with no car garage, it’s 1,312 sqft built in 1967 and it is a short sale.

Summarizing all this information for the neighborhood of Black Bart we can say that compared to 2010, last year (2011)
we had more sales and more homes on the market. The median home price went down from the previous year and homes took a little longer to sell. Also, there was less distressed properties on the market in 2011 compared to 2010.

 

 


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