Sierra Tract neighborhood in South Lake Tahoe, CA – Real Estate Market Report, past 12 months 2011-2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 43 properties sold through the past 12 months (May 2011 through April 2012) in the neighborhood of Sierra Tract. During the same period in 2010 there were 48 properties sold.

This is the number of closed sales in the sierra tract area
This is the number of closed sales in the sierra tract area

 

 

From the 43 properties sold in the past 12 months, 21 of them were foreclosures and 10 were short sales. Of the 48 properties sold in 2010, 25 of them were foreclosures and 8 were short sales.

This is the breakdown of closed sales in the sierra tract area
This is the breakdown of closed sales in the sierra tract area

 

 

Of the 43 homes sold in the past 12 months, the median home price is $142,500, the median home price in 2011 went down 22.6% from $184,000 during 2010. The average price per square feet of single family homes was $143, down from $165 price per sqft in 2010. The average days on the market was 140 days, compared to 133 days during 2010.

This is the median sales price of closed sales in the sierra tract area
This is the median sales price of closed sales in the sierra tract area

 

 

As for the list price to sold price ratio, the homes that sold in Sierra Tract during the past 12 months sold for an average of 85.3% of the original asking price. The list to sold ratio in 2010 was 87.3% of the original asking price.

This is the percent of original list price recieved in the sierra tract area
This is the percent of original list price recieved in the sierra tract area

 

There were less homes for sale on the market in the past 12 months compared to the same period in 2010. The month supply in the past 12 months was 7.2 months of inventory, 17.1% less from 2010 that had a supply of 8.6 months worth of inventory. 

This is the months supply of homes for sale in the sierra tract area
This is the months supply of homes for sale in the sierra tract area

 

There are currently 33 homes on the market within the Sierra Tract area as of May 12th of 2012, 1o of which are in escrow. Of the homes in escrow, the prices range from a low of $60,000 up to $409,000, all with an average of $145 price per square feet. The home listed for $60,000 is a 3 bedrooms/1 baths/no car garage home with 861sqft built in 1957. The home listed for $409,000 is a 3 bedrooms/2 baths/no car garage log cabin with 1,790sqft built in 2009.

Summarizing all this information for the neighborhood of Sierra Tract we can realize that compared to 2010, in the past 12 months we had less sales and less homes on the market. The median home price went down from the previous year.

 


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