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South Lake Tahoe, CA Final 2008 Home Sales Report

January 5th, 2009 categories: For Agents, For Buyers, Lake Tahoe Real Estate, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe 2008 Home Sales, all 354 of them!

We have just completed all 2008 South Lake Tahoe, CA residential home sales results. There were 354 home sales in South Lake Tahoe, CA last year.

All South Lake Tahoe 2008 home sales here.

Statistics for all 2008 home sales here.

Final 2008 Home Sales Summary:

Here’s are the final statistics on all 2008 South Lake Tahoe, CA home sales:

The Median Sold Price for homes sold in 2008 was $390,000 (not including homes in The Tahoe Keys)
The Average Original List Price is $524,919.
The Average Sold Price is $453,018.
The difference between Average Original List Price and Median Sold Price is $71,901, or 13.7%.
Average Days on Market is 161.
Average Price Sq. Ft. is $269.

To get as true indication of market conditions as possible, we also continue to look at and report all single family home sales in South Lake Tahoe,CA for the last 365, 180, 90 and 30 days as well. (see 365-day sales results here.)

Median Sold Price: Which is the right one?
We look at Median Sold Price at various time intervals. This allows us to better track current market condition, and to identify any emerging changes as quickly as possible. The Median Sold Prices as indicated below suggest that prices have come down this year, and that they are flattening.

We have recently posted a report on current South Lake Tahoe, CA homes in escrow. There are 36 of these with a current Median Price of $375,000. (here)

Median Sold Price: (not including The Tahoe Keys)

For 2008: $390,000.
For 2007: $425,000.
For 2006: $475,000
For 2005: $475,000

The Bottom Line: Good News for Buyers.
The South Lake Tahoe, CA real estate market presents significant Buying opportunities at this time.

Interest rates are getting better, and may get even better as a result of a new administration in Washington coupled with continuing federal efforts to boost our economy.
Prices have come down, but appear to be somewhat stabilizing.
A Buyer has many homes from which to choose.
Many Sellers remain eager to sell.
Some Sellers are more reasonable than ever (others unfortunately not).

We offer this information as a public service. This blog contains the most complete and current information on the South Lake Tahoe, CA and Stateline, NV real estate market available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Please use comments box below.)