South Lake Tahoe, CA:
The South Lake Tahoe Real Estate Market showed 31 new listings over the past week, up 11 from the previous week according to the South Tahoe Association of REALTORS’ Multiple Listing Services. The lowest priced new listing was $189,000 for 3344 Sandy Way #16, a 2 bedroom, 1 bath with 812 square feet. This condo is in the Bijou neighborhood. The highest priced new listing is $2,095,000 for 3371 Lake Tahoe Blvd. #8. This is a 4 bedroom, 4 bath lakefront townhouse with 3327 square feet. The median new asking price is $415,000 and the average is $535,484. The number of NEW PENDING escrows within the South Lake Tahoe real estate market during the past week was 13, up 3 from the previous week. The lowest pending list price from this group was $199,000 for 720 Tahoe Island Drive, a 3 bedroom, 1 bath with 976 square feet. The highest priced home that went into escrow over the past week is listed at $595,000 for 2196 Morro in the Tahoe Keys. This home has 3 bedrooms and 1627 square feet. The overall median asking price for homes that went into escrow last week was $379,900 while the average overall was $424,569. As for the number of CLOSED escrows, there were 8 during the past week, up 2 from the week before. The lowest sale price was $160,000 for 969 Star Lake in Al Tahoe. This cabin has 1 bedroom, 1 bath and 865 square feet. The highest recorded sale price within this group was $575,000 for 336 Ala Wai #256 in the Tahoe Keys. This condo has 3 bedrooms, 2.5 baths and 1570 square feet. The average time on the market (including the escrow period) was 111 days.
Nevada East Shore Market Activity:
The Nevada East Shore market report shows there are 122 single family homes for sale (as of May 26th, 2014), according to the Northern Nevada MLS. From this group of Nevada homes for sale, there are 21 homes currently in escrow. Among these 21 escrows, 2 of these homes are still pending bank approval for a short sale. Throughout these 122 active listings, the median list price is $1,196,500 while the average list price is at $2,303,238. The Nevada homes that are in escrow have a median asking price of $595,000 and an average asking price of $1,060,295. There was 1 new listing this past week for Nevada single family homes, down 2 from the previous week. The new listing is asking $890,000 for 208 Cedar Ridge in Zephyr Cove (listed by the Souers team). This homes features 3 bedrooms, 2 baths and 3200 square feet of living space. There were no homes that went into escrow last week, down 1 from the week before. There were 2 sold listings last week, up 1 from the week before. The lowest sale price was $790,000 for 225 Highland, a 4 bedroom, 3 bath with 2710 square feet of living space. The highest sale price was $5,600,000 for 1092 Myron in Zephyr Cove. This home has 4 bedrooms, 6 baths and 5126 square feet of living space.
Currently there are 72 condos listed for sale in the East Shore Nevada side of Lake Tahoe according to the Northern Nevada MLS. The median listing price for these condos is $384,500 and the average is $463,973. Out of these 72 condos on the market, there are 9 that are currently in escrow. The median price for the Nevada condos that are in escrow is $294,500 and the average is $334,253. One condo is pending short sale approval from the bank. There were no new condo listings, down 1 from the week before. There were also no pending sales over the past week, the same as the week before. There were 2 condos that sold last week, up 1 from the week before. The lowest sale price was $295,000 for 416 Quaking Aspen F, a 2 bedroom, 2 bath with 890 square feet. The highest sale price was 756 Bigler A, which sold for $450,000. This is a 3 bedroom, 3 bath with 1948 square feet.