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South Lake Tahoe Median Sold Prices… Then and Now.

June 26th, 2008 categories: About Us, For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA

The South Lake Tahoe Median Sold Prices as reported in this Blog.

Median sold prices are the best indicators there are to assess South Lake Tahoe real estate market performance. As such we have consistently reported the median sold price for both sides of the South Lake Tahoe market since we first introduced this blog.

Below you will find a chart of every median sold price in South Lake Tahoe, CA since our first such report in April of 2007.

As you know, the "median" is one type of average, found by arranging the values in order and then selecting the one in the middle. The median is a useful number in cases where the distribution has very large extreme values which would otherwise skew the data.

(click "read the rest of this entry" below)

Has the South Lake Tahoe Real Estate Market Stabilized?
As you may imagine, we are constantly being asked this question. Rather than tell, we like to show. And the chart below does just that.

South Lake Tahoe Real Estate: Median Sold Prices since April, 2007.

The chart above has the median sold prices in South Lake Tahoe, CA since April 7, 2007.
- Every report on median prices in South Lake Tahoe we have done on this blog is summarized here.

Note that we report median sold prices for 365 days of sales, and also for 180 days, and 90 days and 30 days.

The most useful of the median sold prices above are those for 180 days.
- We find this time frame is more relevant because it is about the same amount of time as the average number of days it takes to sell a South Lake Tahoe, CA house in this market.

Also note the column shaded in off-yellow. It is the average of all 4 median price numbers, though it is not as relevant as the 180-day number.

Also note the column in red and green . This indicates the percent change in the median sold price from the entry prior.

What the chart indicates : (It’s something other than stabilization)

Note the first column after the date of entry is the median sold price for all sales in the last 365 days.
- Note that the numbers here never increase from one entry to the other; they only decline.
- Also note that the decline is both gradual and subtle; it is not a decline that is sharp or overt.

Note the second column after the date of entry is the median sold price for all sales in the last 180 days.
- This is the number we consider most relevant.
- Note that numbers in this column vary, and sometimes they increase rather than just decline.

The last two columns indicate median sold prices from sales within the last 90 and 30 days.
- We report these numbers because they give us an indication of where the 180-day number might be going.
- They also help us identify any changes or new trends as quickly as possible.
- Remember that one quarter, or 30 days of market activity does not a market make. We need at least 6 months of data to announce a change in trend.
- Both the 90-day and the 30-day results are included in the 180-day number.

Note the 180-day median sold price for April 7, 2007 (it’s $465,150). Then note the median sold price for June 17, 2008 (it’s the last entry in yellow that is $388,000).
- This represents the total median sold price decline in our current buyers market.
- The amount of decline is $77,150, or 16.5%.

We provide this information as a public service. It is the most consistent and detailed real estate market information about South Lake Tahoe found anywhere.

Please call or email us with any comments or questions.