Real Estate Market Report for 2011 – Christmas Valley 1 neighborhood in South Lake Tahoe, CA

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 13 properties sold through the year of 2011 in the neighborhood of Christmas Valley. In 2010 there were 11 properties sold.

This is the number of closed home sales in the christmas valley 1 area over the last 3 years
This is the number of closed home sales in the christmas valley 1 area over the last 3 years

 

From the 13 properties sold last year year, 2 of them were short sales and 4 were foreclosures. Of 11 properties sold in 2010, 1 of them was a short sales and none of them were foreclosures.

This is a breakdown of all the closed home sales in the christmas valley 1 area over the last 3 years by type
This is a breakdown of all the closed home sales in the christmas valley 1 area over the last 3 years by type

 

Of the 13 homes sold last year, the median home price is $255,000, the median home price in 2011 went down 39.3% from $420,000 during 2010. The average price per square feet of single family homes was $184, down from $191 price per sqft in 2010. The average days on the market was 153 days, compared to 244 days during 2010.

This is the median sales price of the home sales  in the christmas valley 1 area over the last 3 years
This is the median sales price of the home sales in the christmas valley 1 area over the last 3 years

 

As for the list price to sold price ratio, the homes that sold in Christmas Valley 1 during 2011 sold for an average of 90.4% of the original asking price. The list to sold ratio in 2010 was 88.2% of the original asking price, 2.5% less compared to 2011.

This is the percent of original list price received from home sales This is the median sales price of the home sales  in the christmas valley 1 area over the last 3 years
This is the percent of original list price received from home sales This is the median sales price of the home sales in the christmas valley 1 area over the last 3 years

 

There were less homes for sale on the market in 2010 compared to 2011. The month supply in 2011 was 6.8 months of inventory, 3.6% down from 2010 that had a supply of 7.1 months worth of inventory.

this is the months supply of homes for sale  in the christmas valley 1 area over the last 3 years
This is the months supply of homes for sale in the christmas valley 1 area over the last 3 years

 

There are currently 10 homes on the market within the Christmas Valley 1 area as of February 16th, 4 of which are in escrow. Of the homes in escrow, the prices range from a low of $189,900 up to $499,000, all with an average of $151 price per square feet. The home listed for $1899,900 is a 3 bedrooms/2 baths/2 car garage home with 1,942 sqft built in 1962. The home listed for $499,000 is a group recreational facility with 8 bedrooms/5 baths with no car garage and 3, 615 sqft built in 1957.

Summarizing all this information for the neighborhood of Christmas Valley 1 we can realize that compared to 2010, last year (2011) we had more sales and less homes on the market. The median home price went way down from the previous year but homes were selling faster in 2011. Also, there were more distressed properties on the market in 2011 compared to 2010.

 


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