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

According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there have been three homes sold through the first three quarters of the year (January 1 – September 30) of 2011 which is the same amount as homes sold during the same period in 2010.

Of the three homes sold this year, the median home price is $143,000, down from $188,500 during 2010.  The median time on the market is 59 days from the list date to the closing of a sale.  There were also 6 partial ownerships sold this year as compared to only 3 (again during the first three quarters of the year) during 2010.

There are currently 15 homes on the market within the Stateline area as of October 3rd, 5 of which are in escrow.  Of the homes in escrow, the prices range from a low of $269,000 to a whopping $4,200,000 for a classic lakefront mini-estate.  None of these five homes are classified as “distressed” sales.