Here is the Monthly Real Estate Market Update for the Month of March, year of 2012 for the area of South Lake Tahoe, California.
As of March 31st we had a total of 375 Residential Properties in the Market, including single family and condos, with an average price of $502,463.
In that same group (Residential Properties including single family and condos), we had a total of 43 New Listings entering the Market in the month of March. The average price for new listings this month was $516,632, with an average price per square feet of $262.
From 375 listings, 125 listings were pending escrow and 64 of them went into escrow in the month of March, 21 of them being a Short Sale. The average price for the 57 homes that went into escrow this month was $348,015, with an average price per square feet of $182 and they were an average of 147 days on the market.
In March, 55 Homes were SOLD. The average sale price for the homes that were sold this month was $325,157 with an average price per square feet of $177 and an average of 150 days on the market.
Please feel free to contact me if you have any questions regarding this Market Update or if you want me to provide a Market Update specific to your neighborhood.
Nanda Dozier, e-PRO
Realtor at Pinnacle Real Estate Group of Lake Tahoe
CA License #01879975
NV License #0170483