The following is the Country Club Estates, South Lake Tahoe real estate market update for the year end of 2013. There were a couple of contradictions in the Country Club Estates market trends in 2013 compares to 2012. While the overall median home price rose to an astounding level (around 40%) over the last year, most other categories did not show such favorable improvement. The number of sales remained fairly consistent over the past few years as well as the average time on the market, however the sale to list ratio was down significantly. This is the only neighborhood that has shown these kinds of conflicting trends thus far. Therefore we had to take a closer look and it turns out there were a handful of sales within the Country Club Estates neighborhood last year that had been sitting on the market for unusually long times. One in fact, had been on the market for nearly 1,300 days and another close to three years, however, they all eventually sold last year.
One area in which the Country Club Estates neighborhood followed area trends was in regards to the monthly supply of homes on the market. This is the time it would take to sell the current inventory if all other factors remain consistent. The Country Club Estates neighborhood dropped into what we consider a “seller’s market.” When the monthly supply is above 6 months, it is considered a buyer’s market. 5 – 6 months is a balanced market while under 5 months is considered a seller’s market.