Real Estate Market Report for 2011 – Christmas Valley 2 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 2. In 2010 there were 17 properties sold.

This is the number of closed sales in the christmas valley 2 neighborhood over the last 3 years
This is the number of closed sales in the christmas valley 2 neighborhood over the last 3 years

 

From the 13 properties sold last year year, 1 of them was a short sales and 4 were foreclosures. Of 17 properties sold in 2010, 4 of them were short sales and 7 were foreclosures.

This is the breakdown of closed sales in the christmas valley 2 neighborhood over the last 3 years
This is the breakdown of closed sales in the christmas valley 2 neighborhood over the last 3 years

 

Of the 13 homes sold last year, the median home price is $410,000, the median home price in 2011 went up 32.3% from $310,000 during 2010. The average price per square feet of single family homes was $209, up from $190 price per sqft in 2010. The average days on the market was 133 days, compared to 167 days during 2010.

This is the median sales price of closed sales in the christmas valley 2 neighborhood over the last 3 years
This is the median sales price of closed sales in the christmas valley 2 neighborhood over the last 3 years

 

As for the list price to sold price ratio, the homes that sold in Christmas Valley 2 during 2011 sold for an average of 92.3% of the original asking price. The list to sold ratio in 2010 was 88.2% of the original asking price, 4.6% less compared to 2011.

This is the percent of original list price received from closed sales in the christmas valley 2 neighborhood over the last 3 years
This is the percent of original list price received from closed sales in the christmas valley 2 neighborhood over the last 3 years

 

There were more homes for sale on the market in 2010 compared to 2011. The month supply in 2011 was 6.6 months of inventory, 17.1% down from 2010 that had a supply of 7.9 months worth of inventory.

This is the months supply of homes for sale in the Christmas Valley 2 area
This is the months supply of homes for sale in the Christmas Valley 2 area

 

There are currently 14 homes on the market within the Christmas Valley 2 area as of February 17th, 5 of which are in escrow. Of the homes in escrow, the prices range from a low of $249,000 up to $598,800, all with an average of $179 price per square feet. The home listed for $240,000 is a 3 bedrooms/2 baths/2 car garage home with 1,314 sqft built in 1969. The home listed for $598,800 is a 4 bedrooms/3 baths/2 car garage home with 2,831 sqft built in 2011.

Summarizing all this information for the neighborhood of Christmas Valley 2 we can realize that compared to 2010, last year (2011) we had less sales and less homes on the market. The median home price went up from the previous year and homes were selling a little faster. Also, there were less distressed properties on the market in 2011 compared to 2010.

 

 


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