South Lake Tahoe Market Update for the Tahoe Meadows Neighborhood, 4th Quarter 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been zero homes sold through the past 12 months (Jan – Dec 2012) in the neighborhood of Tahoe Meadows, including single family residential properties and condo/townhouses.

The last sale on Tahoe Meadows was a single-family home that sold in 2010 located at 960 Lake Road.  The property, built in 1976, includes 3 bedrooms and 2 bathrooms, a two car garage and offers 1,764 square feet. The sale price for the one Tahoe Meadow home sold in 2010 was $590,000.

As of January 24th, 2012, there are no homes for sale in the Tahoe Meadows neighborhood in South Lake Tahoe.

 

South Lake Tahoe Market Update for the Tahoe Keys Neighborhood, 4th Quarter 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 71 homes sold through the past 12 months (Jan – Dec 2012) in the neighborhood of Tahoe Keys, including single family residential properties and condo/townhouses. From the 71 properties sold 10 of them were short sales and 5 were foreclosures. During the same period in 2011 there was 63 homes sold. Of 63 properties sold in 2011, 9 of them were short sales and 11 were foreclosures.

 

Of the 71 homes sold this year, the median home price is $553,200, the median home price is up 7.4% from $515,000 during 2011. The average days on the market for the neighborhood of Tahoe Keys in the past 12 months was 165 days, compared to 220 days during the same period in 2011. The average for the current price per square feet is $303, up from $282 price/sqft in 2011.

 

There are currently 37 homes for sale on the market within the Tahoe Keys area as of January 24th. These homes for sale have an average of $392 price per square feet. Their asking prices range from $159,900 (Condo, studio/1 bath/no garage with 507sf of living space built in 1973) up to $4,700,000 (Single-family home, 6 beds/5 baths/3 car garage with 7,339sf of living space built in 1992 Lake Front property).

 

In the neighborhood of Tahoe Keys 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 8.4 months of inventory, 2.8% less from 2011 that had a supply of 8.6 months worth of inventory.

 

The chart below shows the number of closed sales for the past 12 months divided by price  range.

 

South Lake Tahoe Market Update for the Tahoe Island Park Neighborhood, 4th Quarter 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 28 homes sold through the past 12 months (Jan – Dec 2012) in the neighborhood of Tahoe Island Park, including single family residential properties and condo/townhouses. From the 28 properties sold 3 of them were short sales and 5 were foreclosures. During the same period in 2011 there was 16 homes sold. Of 16 properties sold in 2011, 6 of them were short sales and 7 were foreclosures.

 

Of the 28 homes sold this year, the median home price is $232,550, the median home price is up 0.6% from $231,250 during 2011. The average days on the market for the neighborhood of Tahoe Island Park in the past 12 months was 147 days, compared to 171 days during the same period in 2011. The average for the current price per square feet is $174, up from $172 price/sqft in 2011.

 

There are currently 7 homes for sale on the market within the Tahoe Island Park area as of January 24th. These homes for sale have an average of $211 price per square feet. Their asking prices range from $359,000 (Single-family home, 3 beds/3 baths/2 car garage with 2,308sf of living space built in 1975) up to $499,000 (Single-family home, 3 beds/3 baths/2 car garage with 2,200sf of living space built in 2012).

 

In the neighborhood of Tahoe Island Park 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 months of inventory, 35.2% less from 2011 that had a supply of 7.7 months worth of inventory.

 

The chart below shows the number of closed sales for the past 12 months divided by price  range.

 

South Lake Tahoe Market Update for the Tahoe Island Drive Neighborhood, 4th Quarter 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 31 homes sold through the past 12 months (Jan – Dec 2012) in the neighborhood of Tahoe Island Drive, including single family residential properties and condo/townhouses. From the 31 properties sold 4 of them were short sales and 7 were foreclosures. During the same period in 2011 there was 28 homes sold. Of 28 properties sold in 2011, 4 of them were short sales and 5 were foreclosures.

 

Of the 31 homes sold this year, the median home price is $199,000, the median home price is down 12.3% from $227,000 during 2011. The average days on the market for the neighborhood of Tahoe Island Drive in the past 12 months was 111 days, compared to 169 days during the same period in 2011. The average for the current price per square feet is $177, down from $164 price/sqft in 2011.

 

There are currently 6 homes for sale on the market within the Tahoe Island Drive area as of January 23rd. These homes for sale have an average of $230 price per square feet. Their asking prices range from $149,900 (Single-family home, 1 bed/1 bath/no garage with 475sf of living space built in 1958) up to $539,500 (Single-family home, 4 beds/3 baths/3 car garage with 2,481sf of living space built in 2013).

 

In the neighborhood of Tahoe Island Drive 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 3.3 months of inventory, 22.2% less from 2011 that had a supply of 4.2 months worth of inventory.

 

The chart below shows the number of closed sales for the past 12 months divided by price  range.

 

South Lake Tahoe Market Update for the Stateline Neighborhood, 4th Quarter 2012

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 4 homes sold through the past 12 months (Jan – Dec 2012) in the neighborhood of Stateline, including single family residential properties and condo/townhouses. From the 4 properties sold 1 of them was a short sale and 2 were foreclosures. During the same period in 2011 there was 7 homes sold. Of 7 properties sold in 2011, 3 of them were short sales and 4 were foreclosures.

 

Of the 4 homes sold this year, the median home price is $133,500, the median home price is down 29.7% from $190,000 during 2011. The average days on the market for the neighborhood of Sierra Tract in the past 12 months was 173 days, compared to 144 days during the same period in 2011. The average for the current price per square feet is $176, down from $178 price/sqft in 2011.

 

There are currently 9 homes for sale on the market within the Stateline area as of January 23rd. These homes for sale have an average of $357 price per square feet. Their asking prices range from $55,000 (Single-family home, 3 beds/1 baths/no garage with 856sf of living space built in 1954) up to $4,950,000 (Single-family home, 3 beds/3 baths/2 car garage with 3,456sf of living space built in 1937 Lake Front property).

 

In the neighborhood of Stateline 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 10.6 months of inventory, 26.1% less from 2011 that had a supply of 14.3 months worth of inventory.

 

The chart below shows the number of closed sales for the past 12 months divided by price  range.