South Lake Tahoe Real Estate Market Report – Tahoe Housing market 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were an average 715 properties sold through the past 12 months (Jan 2012 through Dec 2012) in the area of South Lake Tahoe CA. During the same period in 2011 there were 593 properties sold.

South Lake Tahoe Sold properties 2012
This is the number of homes that were sold in 2012

 

From the 715 properties sold in the past 12 months, 167 of them were foreclosures and 114 were short sales. Of the 593 properties sold in 2011, 180 of them were foreclosures and 100 were short sales.

South Lake Tahoe Sold distressed properties 2012
This is the breakdown of homes that were sold in 2012

 

Of the 715 homes sold in the past 12 months, the median home price is $242,000, the median home price in 2012 went down 6.7% from $259,500 during 2011.

South Lake Tahoe median sales price 2012
This is the median sales price of homes that were sold in 2012

 

As for the list price to sold price ratio, the homes that sold in South Lake Tahoe during the past 12 months sold for an average of 96.2% of the original asking price. The list to sold ratio in 2011 was 95% of the original asking price.

South Lake Tahoe percent of List price received 2012
This is the percent of listing price recieved from homes that were sold in 2012

 

There were less homes for sale on the market in the past 12 months compared to the same period in 2011. The month supply in the past 12 months was 5.2 months of inventory, 41.6% less from 2011 that had a supply of 8.9 months worth of inventory.

South Lake Tahoe Months supply of Homes for Sale 2012
This is the months supply of homes for sale in south lake tahoe

 

There are currently 209 homes on the market in South Lake Tahoe as of Jan 11th of 2013, 68 of which are in escrow. Of the homes in escrow, the prices range from a low of $94,500 up to $1,7000,000, all with an average of $202 price per square feet. The home listed for $94,500 is a 2 bedrooms/2 baths/no car garage home with 962sqft built in 1963, located in the Bijou neighborhood. The home listed for $1,700,000 is a 5 bedrooms/4 baths/3 cars garage lake front home with 3,176sqft built in 1985 in the Tahoe Keys neighborhood.

Summarizing all this information we can realize that compared to 2011, in the past 12 months we had a lot more sales sales and less homes on the market. The current inventory of homes is very short and we are having a lot of buyer’s competition. The demand currently exceed the supply so we are in a seller’s market. Most of the time if a home is priced competitively the owners usually receive multiple offers. If you were considering selling your home, right now is great time to put your home on the market.

 

Click here if you’d like a free market evaluation for your property.

 

 

 


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