South Lake Tahoe Market Update for the Christmas Valley 1 and Christmas Valley 2 Neighborhoods, 3rd Quarter, 2011

Christmas Valley 1

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 10 homes sold through the first three quarters of the year (January 1 – September 30) of 2011 in the neighborhood of Christmas Valley 1, including only single family residential properties. From the 10 properties sold in the first three quarters of 2011, 2 of them was short sales and 3 were foreclosures. During the same period in 2010 there was 7 homes sold. Of 7 properties sold in 2010, 1 of them were a short sale and none were foreclosures.

Of the 10 homes sold this year, the median home price is $298,054, the median home price is $118,089, down from $416,143 during 2010. The average days on the market in the first three quarters of 2011 is 153 days, compared to 192 days during the same period in 2010. The average for the current price per square feet is $192, down from $196 pr/sqft in 2010.

There are currently 13 homes on the market within the Christmas Valley 1 area as of October 6th, 3 of which are in escrow. Of the homes in escrow, the prices range from a low of $147,900 up to $189,000, all with an average of $189 price per square feet.

Christmas Valley 2

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 12 homes sold through the first three quarters of the year (January 1 – September 30) of 2011 in the neighborhood of Christmas Valley 1, including only single family residential properties. From the 12 properties sold in the first three quarters of 2011, 1 of them was a short sale and 2 were foreclosures. During the same period in 2010 there was 9 homes sold. Of 9 properties sold in 2010, 2 of them were short sales and 3 were foreclosures.

Of the 12 homes sold this year, the median home price is $337,958, the median home price is $21,042, down from $359,000 during 2010. The average days on the market in the first three quarters of 2011 is 152 days, compared to 145 days during the same period in 2010. The average for the current price per square feet is $211, up from $176 pr/sqft in 2010.

There are currently 16 homes on the market within the Christmas Valley 2 area as of October 6th, 4 of which are in escrow. Of the homes in escrow, the prices range from a low of $299,000 up to $488,850, all with an average of $181 price per square feet.