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

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 28 properties sold through the year of 2011 in the neighborhood of Heavenly Valley. In 2010 there were 30 properties sold.

This is the number of closed sales in the Heavenly Valley Area
This is the number of closed sales in the Heavenly Valley Area

 

From the 28 properties sold last year year, 4 of them were short sales and 8 were foreclosures. Of 30 properties sold in 2010, 4 of them were short sales and 11 were foreclosures.

This is the breakdown of closed sales in the Heavenly Valley Area
This is the breakdown of closed sales in the Heavenly Valley Area

 

Of the 28 homes sold last year, the median home price is $325,000, the median home price in 2011 went up 6.2% from $306,000 during 2010. The average price per square feet of single family homes was $208, down from $277 price per sqft in 2010. The average days on the market was 244 days, compared to 263 days during 2010.

This is the median sales price in the Heavenly Valley Area
This is the median sales price in the Heavenly Valley Area

 

As for the list price to sold price ratio, the homes that sold in Gardner Mountain during 2011 sold for an average of 83.2% of the original asking price. The list to sold ratio in 2010 was 84.7% of the original asking price, 1.8% more compared to 2011.

This is the percent of original listing price received in the Heavenly Valley Area
This is the percent of original listing price received in the Heavenly Valley Area

 

There were less homes for sale on the market in 2010 compared to 2011. The month supply in 2011 was 14 months of inventory, 20.2% up from 2010 that had a supply of 11.6 months worth of inventory.

This is the months supply of homes for sale in the Heavenly Valley Area
This is the months supply of homes for sale in the Heavenly Valley Area

 

There are currently 25 homes on the market within the Heavenly Valley area as of February 20th, 6 of which are in escrow. Of the homes in escrow, the prices range from a low of $145,000 up to $938,000, all with an average of $215 price per square feet. The home listed for $145,000 is a 2 bedrooms/1 baths with no car garage home with 864 sqft built in 1977. The home listed for $938,000 is a 6 bedrooms/6 baths/3 car garage home with 4,200 sqft built in 2012.

Summarizing all this information for the neighborhood of Heavenly Valley we can realize that compared to 2010, last year (2011) we had less sales and more 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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