Archive for October, 2008

The State of the Stateline, NV Real Estate Market Right Now.

Current State of the South Lake Tahoe Real Estate MarketFive key market indicators: Demand, Supply, Escrow, Prices, Absorption.

The following is a summary of all key South Lake Tahoe real estate market indicators for Stateline,  NV.  Details for each of the five key indicators follows.

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Written by Richard Bolen | Discussion: Please leave a comment.

South Lake Tahoe Real Estate Demand: Stateline, NV Absorption Rates.

Stateline, NV - Lake Tahoe Absorption RatesDecline in Demand, Increase in Inventory and Price Declines create Excellent Buying Opportunities in South Lake Tahoe.

We’ve just updated the Absorption Rates for the Stateline, NV side of our South Lake Tahoe real estate market.

The market is absorbing (selling) an average of about 6 homes per month. There is virtually no change in market demand in Stateline, NV in the last 365 days.

This chart contains market wide absorption rates, and a lot more.

For absorption rates by price range, plus current inventory, here.

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South Lake Tahoe Update for Stateline, NV.: All Home Sales in the last 365 Days

Stateline, NV - South Lake Tahoe Real Estate Market Report

Stateline, NV  Real Estate Market Performance: All Home Sales – Last 365 Days.

We’ve just updated the market performance for Stateline, NV, the Nevada side of our South Lake Tahoe real estate market.

The Median Sold Price, not including Lake Front and Glenbrook properties, is now $569,000 for all sales in the last 180 days. This is a decline of 33.4% off our our market high median sold price of $854,500 for the same 180-day time period in 2006. (look for a post that addresses how to best understand this promptly.)

To best look at overall market performance, we provide market data for the last 365 days, plus separate looks at 180 days, at 90 days and the last 30 days. Here.

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South Lake Tahoe Real Estate Update: Stateline, NV Escrow Report

Stateline, NV Escrow - South Lake Tahoe Real Estate MarketHomes in Escrow in the Stateline, NV area of the South Lake Tahoe Real Estate Market.

We have just updated the Stateline, NV Real Estate Market Escrow Report.  At present there are 12 homes in escrow.

One of the benefits of looking at homes in escrow is they are also indicators of current market trends and conditions.

At present there are 6 less homes in escrow in Stateline, NV than the most (18) there has been at any time in the last 2 years (see chart below).

All Current Escrow – Stateline, NV, plus statistics, here.

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South Lake Tahoe Real Estate Update: The Tahoe Keys

South Lake Tahoe Real Estate: Tahoe Keys updated

South Lake Tahoe Keys 2008 Real Estate Activity.

We’ve just updated all Tahoe Keys neighborhood real estate activity in South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “The Tahoe Keys (CA)” found in our left sidebar.

2008 Tahoe Keys, South Lake Tahoe single family home Sales,  here.

Current Tahoe Keys, South Lake Tahoe single family homes in escrow,  here.

Current Tahoe Keys, South Lake Tahoe single family homes listed,  here.

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What is going on with South Lake Tahoe Home Values?

South Lake Tahoe Home Value is not what one might think.Surprise, South Lake Tahoe home prices are not going down as much as one might think.

We’ve crunched all of the real estate market numbers for South Lake Tahoe three times in the last three weeks. And we keep doing this because the results surprise us. They are not what we thought they would be.

Our thoughts are that the median sold price in South Lake Tahoe would have dropped since the true nature of our national financial crisis revealed itself with the collapse of Lehman Brothers on September 12th.

Conventional wisdom, and ours too, certainly says that home prices would go down along with just about everything else. But that has not happened. The reverse is in fact true. But not by a lot.

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The Current State of the South Lake Tahoe, CA Real Estate Market

Current State of the South Lake Tahoe Real Estate MarketFive key South Lake Tahoe market indicators: Demand, Supply, Escrow, Prices, Absorption.

Here’s a summary of all key real estate market indicators for South Lake Tahoe,  CA.

Demand is the same as it has been for the last year. Supply is less than it was a month ago.

There are more homes in escrow than in the last 2 years.

And prices , while excellent for Buyers across the board, are just now showing the first signs of potential stabilization.

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All South Lake Tahoe, CA Real Estate Home Sales in the last 365 Days.

South Lake Tahoe Home Sales Update - Last 365 DaysHome Sales Summaries for South Lake Tahoe, CA.

We’ve updated your real estate home sales summaries and Market Performance for South Lake Tahoe, CA.

In the last 30 days, the median sold price have decreased by $2,000, from $392,000 to $390,000. (based on sales in the last 180 calendar days).

If our next few home sales updates reports indicate that the median sold price is essentially the same, or only slightly higher, or lower, then one can responsibly claim that we have reached price stabilization in South Lake Tahoe.

All South Lake Tahoe home sales in the last 365 days, here

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South Lake Tahoe Real Estate Demand (Absorption Rates)

South Lake Tahoe Absorption Rates - South Lake Tahoe, CA real estate market statisticsSouth Lake Tahoe demand continues to be about 30 Home Sales per month.

We’ve jupdated the Absorption Rates for our South Lake Tahoe, CA real estate market.

Absorption Rates here.

Below is a bullet-point summary of  the current housing demand in South Lake Tahoe.

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South Lake Tahoe Real Estate Update: Sales Report

All South Lake Tahoe, CA 2008 SalesSouth Lake Tahoe 2008 Home Sales: The number sold… and their value.

We have just updated all 2008 South Lake Tahoe, CA residential home sales. To date, there have been 265 single family home sales in South Lake Tahoe, CA this year.

All South Lake Tahoe 2008 home sales here.

Statistics for all 2008 home sales here.

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