Bijou Neighborhood Update, South Lake Tahoe Real Estate

Real estate sales activity continues to improve within the Bijou neighborhood of South Lake Tahoe. Since 2008, the number of property sales in the Bijou neighborhood has steadily increased. In 2008, 47 properties closed escrow in Bijou. During the same period in 2009, Bijou experienced 59 sales. Yet, as of December 28, 2010, 63 homes have closed escrow in the Bijou neighborhood in 2010.

Of the 63 Bijou homes that closed escrow in 2010, the lowest sale price was $88,000 for the property at 3606 Birch.  That home was built in 1951 and includes 3 bedrooms, 2 bathrooms and 1,162 square feet.  At the opposite end of the vale range, the highest 2010 sales price in Bijou was $727,000.  That property, located at 1290 Angora Lake Rd, included 4 bedrooms, 2.5 bathrooms, and 3,130 square feet of living space.  The average sale price of the 63 Bijou homes sold in 2010 was $270,121 and the average dollar per square feet was $182.26. Both are slightly lower than the overall average as reported for the South Lake Tahoe real estate market.  The median sale price in Bijou in 2010 was $230,000 (again, slightly lower than that reported throughout South Lake Tahoe.)  Approximately one third (23) of the 63 Bijou homes that closed escrow in 2010 were bank-owned, and there were 8 Bijou properties sold by short sale.

As of December 28th, 2010, the Bijou neighborhood has 70 properties listed for sale. 12 of those are bank-owned and 6 will hopefully be sold with short sale approval.  The average price for homes in Bijou that are currently listed and not in escrow is $324,503 and the median price is $242,000.  The average dollar per square foot is $244.96, which is high due to a couple of million dollar properties that are currently listed.

As of December 28th, 2010, there were 3 Bijou homes in escrow. The average listing price for those homes is $187,933 and the median listing price is $164,900.  The Bijou homes in escrow have a $164.99 average dollar per square foot.