South Lake Tahoe Market Update for the Heavenly Valley Neighborhood, 3rd Quarter, 2011

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 11 homes sold through the first three quarters of the year (January 1 – September 30) of 2011 in the neighborhood of Heavenly Valley, including only single family residential properties. From the 11 properties sold in the first three quarters of 2011, 2 of them were short sales and 1 was a foreclosure. During the same period in 2010 there was 15 homes sold. Of 15 properties sold in 2010, 2 of them were short sales and 4 were foreclosures.

Of the 11 homes sold this year, the median home price is $547,989, the median home price is $78,942 up from $469,047 during 2010. The average days on the market in the first three quarters of 2011 is 285 days, compared to 185 days during the same period in 2010. The average for the current price per square feet is $223, down from $242 pr/sqft in 2010.

There are currently 26 homes on the market within the Heavenly Valley area as of October 6th, 3 of which are in escrow. Of the homes in escrow, the prices range from a low of $299,000 up to $324,900, all with an average of $173 price per square feet.