South Lake Tahoe Market Update for the Country Club Estates Neighborhood, 3rd Quarter, 2011

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 14 homes sold through the first three quarters of the year (January 1 – September 30) of 2011 in the neighborhood of Country Club Estates, including only single family residential properties. From the 14 properties sold in the first three quarters of 2011, 6 of them were short sales and 1 was a foreclosure. During the same period in 2010 there was 12 homes sold. Of 12 properties sold in 2010, 3 of them were short sales and 3 were foreclosures.

Of the 14 homes sold this year, the median home price is $426,357, the median home price is $41,324, up from $385,033 during 2010. The average days on the market in the first three quarters of 2011 is 186 days, compared to 126 days during the same period in 2010. The average for the current price per square feet is $204, down from $218 pr/sqft in 2010.

There are currently 23 homes on the market within the Country Club Estates area as of October 6th, 6 of which are in escrow. Of the homes in escrow, the prices range from a low of $251,000 up to $565,000, all with an average of $173 price per square feet.