Everyone knows by now that most sellers are willing to negotiate their asking price in today’s market. However, the most recent statistics released by the South Tahoe Association of Realtors Multiple Listing Services shows that the sales to list ratio is slowly closing it’s gap for single family residences throughout the South Lake Tahoe real estate market. Between January 1 and March 8th of 2010, there were 69 reported sales, up from 52 in 2009 and 36 in 2008.
The homes that closed escrow within 60 days of listing averaged a sale to list ratio of 101.78%. There were 14 sales within this group and one can assume that the majority of these homes were bank-owned sales. The homes that closed escrow within 61 – 90 days of listing in 2010 averaged a sale to list ratio of 96.94% up from the 94.04% reported in 2009. Similarly, the homes that closed escrow within 91 – 120 days in 2010 averaged 92.16% as compared to 90.69% in 2009. Small steps but we’ll take them.