South Lake Tahoe Market Update for the Pioneer Village Neighborhood, 3rd Quarter, 2011

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been 4 homes sold through the first three quarters of the year (January 1 – September 30) of 2011 in the neighborhood of Pioneer Village, including only single family residential properties. From the 4 properties sold in the first three quarters of 2011, 1 of them was a short sale and 3 were foreclosures. During the same period in 2010 there were 2 homes sold.

Of the 4 homes sold this year, the median home price is $212,975, the median home price is up $16,975, from $196,000 during 2010. The average days on the market in the first three quarters of 2011 is 111 days, compared to 83 days during the same period in 2010. The average for the current price per square feet is $143, down from $144 pr/sqft in 2010.

There are currently 3 homes on the market within the Pioneer Village area as of October 5th, 1 of which is in escrow. The home that is in escrow is listed at $173,800 with a $119.78 price per square feet.