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South Lake Tahoe, CA Market Statistics

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The State of the South Lake Tahoe, CA Real Estate Market Right Now!

January 5th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA

Five 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 in 2008 was essentially the same as it was in 2007 (19 less than 2007), 354 home sales v. 373 respectively. Supply is about the same as we normally see this time of year..

And prices, while some $35,000 lower on average than they were last year at this time, have been essentially the same for the last quarter.

Demand :

There has been a decrease in demand: 38 home sales in the last 30-days.
There were 25 homes sold in the last 30 days.
There were 46 sales in October, the most home sales in any one month in South Lake Tahoe, CA since November of 2006.

Supply :

There are 380 homes for sale in South Lake Tahoe, CA right now.
At current market performance rates, it will take a year to sell all of them.

Escrow :

There are 36 homes in escrow as of today.
The median price of current homes in escrow is $375,000.

Prices :

The Median Sold price for all home sales in the last 180 days is $390,000 .
Median Sold Price declined throughout all of 2007 and 2008.
What is notable is the current median sold price has been nearly the same for the last quarter, which is the first appearance we have seen of the market flattening in 2 years.
This reflects an 8% reduction in value throughout 2008, and a 15% decline since 2006.

Absorption : (demand)

The current average monthly absorption rate is 34.2 home sales per month (last 180 days).
The monthly absorption rate for 2008 was an average of 29.6 homes sold per month.
This is a decline of about 2 sales per month compared to 2006

Here are more details:

Demand:

The total number of homes sold in 2008 was 354.
The total number of home sales for 2007 was 373.
The total number of home sales in the last 365 days is 353.
The total number of home sales in 2006 was 438.
The total number of home sales in 2005 was 682.
The total number of home sales in 2004 was 843.

Supply (Inventory)

The current number of homes available for sale in South Lake Tahoe, CA is 380.

Escrow:

The number of homes in escrow at present is 36.
The number of homes in escrow at noted at various dates throughout 2008 ranged from 38 to 68.
The number of homes in escrow this year has ranged from 36 to 75.

Median Sold Price: (not including The Tahoe Keys)

Median Sold Price for South Lake Lake Tahoe homes in 2007 was $425,000.
Median Sold Price for South Lake Lake Tahoe homes in the last 180 days is $390,000.
Median Sold Price for South Lake Lake Tahoe homes in the last 365 days is $390,000.
Median Sold Price for South Lake Lake Tahoe home sales in 2006 was $460,000.
Median Sold Price for South Lake Lake Tahoe home sales in 2005 was $455,000.

Monthly Absorption Rate (average number home sales per month)

The South Lake Tahoe real estate market is averaged 31 home sales per month in 2007.
For the last 365 days, the South Lake Tahoe real estate market has averaged 29.6 home sales per month.
For the last 180 days, the South Lake Tahoe real estate market has averaged 34.2 home sales per month.
For the last 90 days, the South Lake Tahoe real estate market has averaged 34 home sales per month.
The South Lake Tahoe real estate market averaged 37 home sales per month in 2006.
The South Lake Tahoe real estate market averaged 57 home sales per month in 2005.
The South Lake Tahoe real estate market averaged 68 home sales per month in 2004.

What it all Means: