South Lake Tahoe, CA. Real Estate Trends and Conditions
We’ve updated home sales summaries and Market Performance for South Lake Tahoe, CA.
The median sold price is $303,750. ( It was $301,875 a month ago, $305,000 two months ago, and $300,000 three months ago.) This is based on all single family sales in South Lake Tahoe, CA in the last 180 calendar days (Tahoe Keys homes not included).
The median sold price for the last 365 days is now $305,000. (that same number was $314,000 a month ago, and $319,000 two months ago.)
The key contributing factor to South Lake Tahoe decline in home prices is the effect of foreclosed home sales on the real estate market.
Since the first of this year, we have seen an increase in the percentage of both foreclosed homes sold and those in escrow. Of all homes sold in South Lake Tahoe in 2008, about 20% of them were in foreclosure.
- At present 41.4% of South Lake Tahoe home sales in the last 365 days are distressed properties (compared to 20% of all 2008 home sales, and 39.9% in 2009.).
- Of the 81 homes currently in escrow, 60 (74.1%) of these are also distressed sales (Either foreclosures or short sales. This same number was 64.5% a month ago.)
All South Lake Tahoe home sales in the last 365 days, here.
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