|Here is the Monthly Real Estate Market Update for the Month of May, year of 2012 for the area of South Lake Tahoe, California.
As of May 31st we had a total of 412 Residential Properties in the Market, including single family and condos, with an average price of $439,660.
In that same group (Residential Properties including single family and condos), we had a total of 162 New Listings entering the Market in the month of May. The average price for new listings this month was $363,354, with an average price per square feet of $210.
From 412 listings, 154 listings were pending escrow and 85 of them went into escrow in the month of May, 16 of them being a Short Sale. The average price for the 85 homes that went into escrow this month was $295,224, with an average price per square feet of $181 and they were an average of 91 days on the market.
In May, 66 Homes were SOLD. The average sale price for the homes that were sold this month was $349,102 with an average price per square feet of $190 and an average of 197 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.