South Lake Tahoe Market Update for the The Y Neighborhood, 1st Quarter 2013

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 34 homes sold through the past 12 months (Apr 2012 – Mar 2013) in the neighborhood of The Y, including single family residential properties and condo/townhouses. From the 34 properties sold 5 of them were short sales and 11 were foreclosures. Comparing it to the same period in the year before (Apr 2011 – Mar 2012) there was 46 homes sold. Of 46 properties sold in 2011, 8 of them were short sales and 18 were foreclosures.

 

 

Of the 34 homes sold this year, the median home price is $140,050, the median home price is up 9.8% from $127,500 during 2011. The average days on the market for the neighborhood of The Y in the past 12 months was 125 days, compared to 154 days during the same period in 2011. The average for the current price per square feet is $161, up from $128 price/sqft in 2011.

 

There are currently 17 homes for sale on the market within the The Y area as of April 20th. These homes for sale have an average of $174 price per square feet. Their asking prices range from $89,000 (Single-family home, 3 beds/1 bath/no garage with 984sf of living space built in 1956 tear-down property) up to $475,000 (Single-Family home, 4 beds/4 baths/2 car garage with 2,502 sf of living space built in 1978).

 

 

In the neighborhood of The Y 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 4.2 months of inventory,54.4% less from 2011 that had a supply of 9.3 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 Paradise Neighborhood, 1st Quarter 2013

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 40 homes sold through the past 12 months (Apr 2012 – Mar 2013) in the neighborhood of Tahoe Paradise, including single family residential properties and condo/townhouses. From the 40 properties sold 5 of them were short sales and 8 were foreclosures. Comparing it to the same period in the year before (Apr 2011 – Mar 2012) there was 26 homes sold. Of 26 properties sold in 2011, 4 of them were short sales and 12 were foreclosures.

 

 

Of the 40 homes sold this year, the median home price is $305,500, the median home price is up 41.4% from $216,000 during 2011. The average days on the market for the neighborhood of Tahoe Paradise in the past 12 months was 137 days, compared to 156 days during the same period in 2011. The average for the current price per square feet is $186, up from $165 price/sqft in 2011.

 

 

There are currently 10 homes for sale on the market within the Tahoe Paradise area as of April 20th. These homes for sale have an average of $215 price per square feet. Their asking prices range from $199,900 (Single-family home, 2 beds/1 bath/no garage with 864 sf of living space built in 1976) up to $998,000 (Single-family home, 6 beds/5 baths/3 car garage with 4,198 sf of living space built in 2012).

 

 

In the neighborhood of Tahoe Paradise 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 3.1 months of inventory, 52.8% less from 2011 that had a supply of 6.5 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 Meadows Neighborhood, 1st Quarter 2013

 

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 April 20th, 2013, 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, 1st Quarter 2013

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 79 homes sold through the past 12 months (Apr 2012 – Mar 2013) in the neighborhood of Tahoe Keys, including single family residential properties and condo/townhouses. From the 79 properties sold 8 of them were short sales and 6 were foreclosures. Comparing it to the same period in the year before (Apr 2011 – Mar 2012) there was 60 homes sold. Of 60 properties sold in 2011, 10 of them were short sales and 11 were foreclosures.

 

 

Of the 79 homes sold this year, the median home price is $580,000, the median home price is up 25.4% from $462,500 during 2011. The average days on the market for the neighborhood of Tahoe Keys in the past 12 months was 79 days, compared to 60 days during the same period in 2011. The average for the current price per square feet is $307, up from $279 price/sqft in 2011.

 

 

There are currently 43 homes for sale on the market within the Tahoe Keys area as of April 18th. These homes for sale have an average of $421 price per square feet. Their asking prices range from $159,900 (Condo, studio/1 bath/no garage with 507 sf 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 7.5 months of inventory, 11.5% less from 2011 that had a supply of 8.5 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, 1st Quarter 2013

 

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 30 homes sold through the past 12 months (Apr 2012 – Mar 2013) in the neighborhood of Tahoe Island Park, including single family residential properties and condo/townhouses. From the 30 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.