Lake Tahoe Real Estate Market Report: July 23rd to July 29th
Active Inventory Summary:
Active Listings: The inventory for residential Lake Tahoe real estate went up slightly from the previous week to 1,039 residential Lake Tahoe properties for sale; 780 single family homes and 259 condominiums for sale. The current inventory is at its highest level for the 2012 calendar year. Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe Foreclosures-Short Sale Active Listings: Of the active listings, there are 109 properties listed as Lake Tahoe short sales, (10.5%) and 15 properties listed as Lake Tahoe Foreclosures, (1%). The total percentage of distressed Lake Tahoe properties listed for sale, (11.5%) is vastly different than the percentage of distressed properties sold on a year to date basis which is over 34% of sales.
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 9-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2012 Vs 2011:
Total Sales: For 2012, there has been 684 residential Lake Tahoe real estate sold in the market as compared to 635 for the same period in 2011 which is a year over year increase in sales of over 7%. Of the total sales in the market this year, 548 have been single family homes, while 136 or 20% of the sales are condominiums. I n 2011 for the same period, condominiums represented 30% of the sales which is significantly higher than what we are experiencing in 2012.
Lake Tahoe Foreclosures & Short Sales: Of the properties sold this year, 119 have been Lake Tahoe Foreclosures, (17.4%), and 114 have been Lake Tahoe Short Sales, (16.7%) which results in just over 34% of the Lake Tahoe properties sold being distressed properties. In 2011 for the same period, there were 134 Lake Tahoe Foreclosures sales and 95 short sales or just over 36% of the total sales.
Sales Price Range: For the year, there has been 444 residential Lake Tahoe real estate sold priced below $500,000, 190 properties sold between $500,000 and $1,000,000 and 50 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for Lake Tahoe real estate sold year to date is $391,000 while the average sales price is $528,845. For the same period in 2011, the median sales price was $396,000 and the average sales price was $513,942 which is a (1.3%) decline in median sales price and a 2.9% increase in the average sales price from 2011 to 2012.
Last Week’s Sales: For the week of July 23rd a total of 14 Lake Tahoe real estate sold which was down significantly from last week’s sales of 26 properties. Of the Lake Tahoe properties sold last week, five (5) properties sold at a price above $750,000 with two of the properties sold above $1.0 million.
Pending Sales: Currently there are 219 pending residential Lake Tahoe Real Estate sales in the market which is up 8% from the previous week. Currently 22% of the pending sales are distressed Lake Tahoe properties with 19 being Lake Tahoe short sales and 29 being Lake Tahoe Foreclosures.
Market Activity Summary:
Total sales for the month of July through the 29th are down 18% from last year with 93 Lake Tahoe properties sold month to date as compared to 113 properties sold for the month in 2011. On a year to date basis, there have been 684 residential Lake Tahoe properties sold as compared to 635 for 2011 which is an overall favorable increase of almost 8%.
For 2012 in the Tahoe-Truckee market, Coldwell Banker Residential Brokerage is #1 in the entire market in terms of both residential units sold, (280 properties) and sales volume sold, ($123 million).
The median sales price for residential Lake Tahoe real estate has decreased from last year by (1.3%) to $391,000, while average sales prices have increased by 2.5% to $528,845. It appears that the Tahoe-Truckee market may be nearing or at the bottom of the market based on this trend which has been holding steady for the past 60-days.
The hottest segment of the market continues to be homes priced under $500,000 as over 64% of the sales or 444 properties have sold in this price range which is similar to 2011 where 426 properties sold in this price range or 67% of sales.
Lake Tahoe Luxury homes sales, homes priced above $1,000,000, are up 6% from 2011. There have been 50 Lake Tahoe luxury homes sold which represents over 7% of sales this year as compared to 47 properties sold last year in this segment. The median sales price for Lake Tahoe luxury homes in 2012 is $1,385,000 as compared to a median price of $1,580,000 in 2011 which is down (12%). Conversely, the average sales price of Lake Tahoe luxury homes in 2012 is $2,077,614 as compared to $1,970,616 in 2011 which is an increase of over 5%. Coldwell Banker is the market leader for Lake Tahoe Luxury homes sold over $1.0 million with 15 properties sold for the year and $22 million in luxury sales volume.
The mid range market sales, $500,000 to $1,000,000 are up 17% from last year with 190 properties sold in this segment or 28% of sales as compared to 162 properties sold or 25% in this range in 2011.
In the area of distressed Lake Tahoe real estate we are seeing similarities with the national trend of more banks supporting short sales as compared to last year. For 2012, Lake Tahoe short sale properties closed have gone up by 20% with 114 closed Lake Tahoe short sales in 2012 as compared to only 95 closed short sales in 2011. Conversely Lake Tahoe foreclosures closed in 2012 have gone down (11%) with 119 properties closed in 2012 as compared to 134 properties closed in 2011. Overall, distressed property sales, (Lake Tahoe foreclosures and Short Sales) represent over 34% of the sales in 2012 which is almost identical to 2011.
The active inventory of residential Lake Tahoe real estate went up slightly from last week to 1,039 residential properties for sale. There are 780 single family homes and 259 condominiums listed for sale in the market. On a year over year bases, residential listings are down 33% from last year at this time.
WHAT ARE YOU WAITING FOR? With the existing inventory of residential Lake Tahoe real estate in the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities. Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the North Lake Tahoe area.
Contact Olja Mihic, Lake Tahoe Realtor Today to Find Out More about the Opportunities Available in the Tahoe-Truckee Market.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 1908304
Lake Tahoe Real Estate Mid Year Review 2012 vs 2011
Mid-Year (Jan-Jun) North Lake Tahoe and Truckee real estate market report by various MLS areas for single family homes and condominiums.
Lake Tahoe Real Estate Mid Year Review 2012 vs 2011
Lake Tahoe Real Estate Market Report: Week July 9-15
Active Inventory Summary:
Active Listings: The inventory for residential Lake Tahoe real estate went up slightly from the previous week to 1,037 residential Lake Tahoe properties for sale; 778 single family homes and 259 condominiums for sale. The current inventory is at its highest level for the 2012 calendar year. Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe Foreclosures-Short Sale Active Listings: Of the active listings, there are 99 properties listed as Lake Tahoe short sales, (9.5%) and 15 properties listed as Lake Tahoe foreclosures sales, (1%). The total percentage of distressed properties listed for sale, (10.5%) is vastly different than the percentage of distressed properties sold on a year to date basis which is over 35% of sales.
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 8-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2012 Vs 2011:
Total Sales: For 2012, there has been 634 residential Lake Tahoe real estate sold in the market as compared to 575 for the same period in 2011 which is a year over year increase in sales of over 10%. Of the total sales in the market this year, 508 have been single family homes, while 126 or 20% of the sales are condominiums. I n 2011 for the same period, condominiums represented 31% of the sales which is significantly higher than what we are experiencing in 2012.
Lake Tahoe Foreclosures & Short Sales: Of the properties sold this year, 114 have been Lake Tahoe foreclosures, (18%), and 110 have been Lake Tahoe Short Sales, (17%) which results in just over 35% of the Lake Tahoe properties sold being distressed properties. In 2011 for the same period, there were 124 Lake Tahoe Foreclosures sales and 87 Lake Tahoe short sales or just over 36% of the total sales.
Sales Price Range: For the year, there has been 413 residential Lake Tahoe real estate sold priced below $500,000, 175 Lake Tahoe properties sold between $500,000 and $1,000,000 and 46 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for Lake Tahoe real estate sold year to date is $389,950 while the average sales price is $527,413. For the same period in 2011, the median sales price was $400,000 and the average sales price was $521,524 which is a (2.5%) decline in median sales price and a 1% increase in the average sales price from 2011 to 2012.
Last Week’s Sales: For the week of July 9th a total of 28 Lake Tahoe real estate sold which was up significantly from last week’s sales of 16 Lake Tahoe properties. Of the properties sold last week, four (4) properties sold at a price above $750,000 with three of the properties sold above $1.0 million.
Pending Sales: Currently there are 195 pending residential Lake Tahoe real estate sales in the market which is up significantly from the previous week. Currently 23% of the pending sales are distressed Lake Tahoe properties with 18 being Lake Tahoe short sales and 28 being Lake Tahoe foreclosures.
Market Activity Summary:
For the first two weeks of July there were 44 total sales in the market which is down 17% from last year’s sales of 53 Lake Tahoe properties for the same period. On a year to date basis, there has been 634 residential Lake Tahoe real estate sold as compared to 575 for 2011 which is an overall favorable increase of 10%.
For 2012 in the Tahoe-Truckee market, Coldwell Banker Residential Brokerage is #1 in the entire market in terms of both residential units sold, (258 properties) and sales volume sold, ($113 million).
The median sales price for residential Lake Tahoe real estate has decreased from last year by (2.5%) to $389,950, while average sales prices have increased by 1% to $527,413.
The hottest segment of the market continues to be homes priced under $500,000 as over 65% of the sales or 413 Lake Tahoe properties have sold in this price range which is similar to 2011 where 381 properties sold in this price range or 66% of sales.
Lake Tahoe Luxury homes sales, homes priced above $1,000,000, are up slightly from 2011. There have been 46 Lake Tahoe luxury homes sold which is 7% of sales this year as compared to 44 properties sold last year in this segment. The median sales price for Lake Tahoe luxury homes in 2012 is $1,335,000 as compared to a median price of $1,615,000 in 2011 which is down (17%). Conversely, the average sales price of Lake Tahoe luxury homes in 2012 is $2,077,841 as compared to $1,995,431 in 2011 which is an increase of over 4%. Coldwell Banker is the market leader for Luxury homes sold over $1.0 million with 14 properties sold for the year and $20 million in luxury sales volume.
The mid range market sales, $500,000 to $1,000,000 are up 17% from last year with 175 Lake Tahoe properties sold in this segment or 27% of sales as compared to 150 properties sold or 26% in this range in 2011.
In the area of distressed Lake Tahoe real estate we are seeing similarities with the national trend of more banks supporting short sales as compared to last year. For 2012, Lake Tahoe short sale properties closed have gone up by 26% with 110 closed Lake Tahoe short sales in 2012 as compared to only 87 closed short sales in 2011. Conversely Lake Tahoe foreclosures closed in 2012 have gone down (8%) with 114 properties closed in 2012 as compared to 124 Lake Tahoe foreclosures closed in 2011. Overall, distressed property sales, (Lake Tahoe Foreclosures and Short Sales) represent over 35% of the sales in 2012 which is almost identical to 2011.
The active inventory of residential Lake Tahoe real estate went up slightly from last week to 1,037 residential Lake Tahoe real estate for sale. There are 778 single family homes and 259 condominiums listed for sale in the market. On a year over year bases, residential listings are down 18% from last year at this time.
Now May Be the Best Time to Buy: With the inventory of residential Lake Tahoe real estate rising in the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities. Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the North Lake Tahoe area.
Contact Olja Mihic, Lake Tahoe Realtor Today to Find Out More about the Opportunities Available in the Tahoe-Truckee Market.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 1908304
Lake Tahoe Real Estate Market Report: Week Jun 18-24
Active Inventory Summary:
Active Listings: The inventory for residential Lake Tahoe real estate went up 5% from the previous week to 996 residential Lake Tahoe real estate for sale; 755 single family homes and 241 condominiums for sale. The current inventory is at its highest level for the 2012 calendar year. Coldwell Banker has over 14% of the active listings in the market and continues to be the market leader for listings.
Lake Tahoe Foreclosures-Short Sale Active Listings: Of the active listings, there are 102 properties listed as Lake Tahoe short sales, (10%) and 23 properties listed as Lake Tahoe foreclosures sales, (2%). The total percentage of distressed Lake Tahoe real estate listed for sale, (12%) is vastly different than the percentage of distressed real estate sold on a year to date basis which is roughly 37% of sales.
Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 8-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2012 Vs 2011:
Total Sales: For 2012, there have been 555 residential Lake Tahoe real estate sold in the market as compared to 485 for the same period in 2011 which is a year over year increase in sales of over 14%. Of the total sales in the market this year, 445 have been single family homes, while 110 or 20% of the sales are condominiums. I n 2011 for the same period, condominiums represented 31% of the sales which is significantly higher than what we are experiencing in 2012.
Lake Tahoe Foreclosures & Short Sales: Of the properties sold this year, 101 have been Lake Tahoe Foreclosures, (18%), and 104 have been Lake Tahoe Short Sales, (19%) which results in just over 37% of the properties sold being distressed Lake Tahoe real estate. In 2011 for the same period, there were 112 Lake Tahoe foreclosure sales and 71 Lake Tahoe short sales or just over 37% of the total sales.
Sales Price Range: For the year, there have been 365 residential Lake Tahoe properties sold priced below $500,000, 150 Lake Tahoe properties sold between $500,000 and $1,000,000 and 40 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for Lake Tahoe real estate sold year to date is $378,400 while the average sales price is $525,418. For the same period in 2011, the median sales price was $403,000 and the average sales price was $525,418 which is a (6%) decline in median sales price and a <1% increase in the average sales price from 2011 to 2012.
Last Week’s Sales: For the week of June 18th, a total of 33 Lake Tahoe real estate sold which was up significantly from last week’s sales of 17 properties. Of the Lake Tahoe real estate sold last week, two (2) properties sold at a price above $1.0 million. One of those million dollar sales was $3,451,000.
Pending Sales: Currently there are 176 pending residential sales in the market which is down slightly from the previous week. Currently 23% of the pending sales are distressed properties with 15 being Lake Tahoe short sales and 28 being Lake Tahoe Foreclosures.
Market Activity Summary:
While the month of June got off to a slow start in terms of closed sales, last week’s sales erased that distinction with the single largest week of close sales of 33 properties. On a year to date basis, there have been 555 residential Lake Tahoe real estate sold as compared to 485 for 2011 which is an overall favorable increase of 14%.
For 2012 in the Tahoe-Truckee market, Coldwell Banker Residential Brokerage is #1 in the entire market in terms of both residential units sold, (249 properties) and sales volume sold, ($101 million).
The median sales prices for residential Lake Tahoe real estate has decreased from last year by (6%) to $378,400, while average sales prices has only increased slightly by <1% to $525,418. The lower median price has obviously played a role in the increased sales in the market. This trend is not the case in all areas or segments of the market.
The hottest segment of the market continues to be homes priced under $500,000 as over 65% of the sales or 365 Lake Tahoe properties have sold in this price range which is similar to 2011 where 321 properties sold in this price range or 66% of sales.
Lake Tahoe Luxury properties sales, homes priced above $1,000,000, are up slightly from 2011. There have been 40 Lake Tahoe luxury properties sold which is 7% of sales this year as compared to 38 properties sold last year in this segment. The median sales price for Lake Tahoe luxury properties in 2012 is $1,300,000 as compared to a median price of $1,662,500 in 2011 which is down (22%). Conversely, the average sales price of Lake Tahoe luxury properties in 2012 is $2,131,518 as compared to $1,985,814 in 2011 which is an increase of over 7%. Coldwell Banker is the market leader for Luxury properties sold over $1.0 million with 14 properties sold for the year and $20 million in luxury sales volume.
The mid range market sales, $500,000 to $1,000,000 are up 19% from last year with 150 Lake Tahoe real estate sold in this segment or 27% of sales as compared to 126 properties sold or 26% in this range in 2011.
In the area of distressed Lake Tahoe real estate we are seeing the national trend of more banks supporting short sales as compared to last year. For 2012, Lake Tahoe short sale properties closed have gone up by 46% with 104 closed short sales in 2012 as compared to only 71 closed Lake Tahoe short sales in 2011. Conversely Lake Tahoe Foreclosure properties closed in 2012 have gone down (10%) with 101 properties closed in 2012 as compared to 112 properties closed in 2011. Overall, distressed property sales, (Foreclosures and Short Sales) represent over 37% of the sales in 2012 which is almost identical to 2011.
The active inventory of residential Lake Tahoe real estate went up 5% from last week to 996 residential properties for sale. There are 755 single family homes and 241 condominiums listed for sale in the market. On a year over year bases, residential listings are down 18% from last year at this time.
WHAT ARE YOU WAITING FOR? With the inventory of residential Lake Tahoe real estate rising in the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities. Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.
Contact Olja Mihic, Lake Tahoe Realtor today to find out more about the opportunities available in the Tahoe-Truckee Market.
Note: Data on this page is based on information from the Tahoe Sierra Board of Realtors, MLS. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. DRE License # 1908304
Lake Tahoe Real Estate: 1776 Cedar Crest, Tahoe City, CA 96145 – Sold!
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$975,000
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Lake Tahoe Real Estate: 1776 Cedar Crest, Tahoe City, CA 96145
