Real Estate Market Report for 2011 – Country Club Estates neighborhood in South Lake Tahoe, CA

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 21 properties sold through the year of 2011 in the neighborhood of Country Club Estates. In 2010 there were 20 properties sold.

This is the number of closed sales in the Country Club Estates area
This is the number of closed sales in the Country Club Estates area

 

From the 21 properties sold last year year, 8 of them were short sales and 4 were foreclosures. Of 20 properties sold in 2010, 6 of them were short sales and 4 were foreclosures.

This is a breakdown of closed sales in the Country Club Estates area
This is a breakdown of closed sales in the Country Club Estates area

 

Of the 21 homes sold last year, the median home price is $341,000, the median home price in 2011 went down 22.3% from $439.000 during 2010. The average price per square feet of single family homes was $190, down from $207 price per sqft in 2010. The average days on the market was 208 days, compared to 167 days during 2010.

This is the median sales price of closed sales in the Country Club Estates area
This is the median sales price of closed sales in the Country Club Estates area

 

As for the list price to sold price ratio, the homes that sold in Country Club Estates during 2011 sold for an average of 87.1% of the original asking price. The list to sold ratio in 2010 was 89.4% of the original asking price, 2.5% more compared to 2011.

This is the percent of list price received from closed sales in the Country Club Estates area
This is the percent of list price received from closed sales in the Country Club Estates area

 

There were more homes for sale on the market in 2010 compared to 2011. The month supply in 2011 was 7.5 months of inventory, 22.3% down from 2010 that had a supply of 9.7 months worth of inventory.

This is the months supply of homes for sale in the Country Club Estates area
This is the months supply of homes for sale in the Country Club Estates area

 

There are currently 11 homes on the market within the Country Club Estates area as of February 17th, 5 of which are in escrow. Of the homes in escrow, the prices range from a low of $184,900 up to $560,000, all with an average of $164 price per square feet. The home listed for $184,900 is a 3 bedrooms/2 baths with no car garage with 1,464 sqft built in 1974. The home listed for $560,000 is a 4 bedrooms/4 baths/3 car garage home with 3,468 sqft built in 2006.

Summarizing all this information for the neighborhood of Country Club Estates 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 down from the previous year but homes were selling faster. Also, there were more distressed properties on the market in 2011 compared to 2010.

 

 


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