South Lake Tahoe, CA Market Statistics
- All Sales in the last 365 Days
- Absorption Rates - Last 365 Days
- All 2011 South Lake Tahoe, CA Sales
- All 2010 South Lake Tahoe, CA Sales
- All 2009 South Lake Tahoe, CA Sales
- All Current Escrow - South Lake Tahoe, CA
- Al Tahoe, CA
- Bijou, CA
- Black Bart, CA
- Christmas Valley, CA
- Gardner Mountain, CA
- Heavenly Valley, CA
- Highland Woods, CA
- Meyers, CA
- Montgomery Estates, CA
- Pioneer Trail, CA
- North Upper Truckee, CA
- Sierra Tract, CA
- S. Lake Tahoe Condos, CA
- The Tahoe Keys Condos, CA
- Stateline Area, CA
- Tahoe Island Drive, CA
- Tahoe Island Park, CA
- The Tahoe Keys, CA
- Tahoe Paradise, CA
- Y Area, CA
Stateline, NV Market Statistics
- All Sales in the Last 365 Days
- Absorption Rates - Last 365 Days
- All 2011 Stateline, NV Sales
- All 2010 Stateline, NV Sales
- All 2009 Stateline, NV Sales
- All Current Escrow - Stateline, NV
- Cave Rock, NV
- Glenbrook, NV
- Hidden Woods, NV
- Kingsbury (Lower), NV
- Kingsbury (Middle), NV
- Kingsbury (Upper), NV
- Lakefront Properties, NV
- Round Hill, NV
- Skyland, NV
- Summit Tahoe Village (Condos), NV
- Lake Village TownHomes, NV
- Zephyr Heights, NV
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Archive for February, 2009
Yesterday’s National Housing Report… compared to South Lake Tahoe.
February 26th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe Statistics, South Lake Tahoe, CA
Both Nationally, and in South Lake Tahoe too, housing is as affordable now as it has been in a long time.
Here are the main points found in an article by Rex Nutting, Washington Bureau chief of Marketwatch. His report is based on Wednesday’s release by the National Association of Realtors.
Lets review the bullet points, then we’ll compare the most important of them with the South Lake Tahoe real estate market, which is almost always better than what we see in a national report these days.
First though, there are a few bright (ok, less than dark) spots in the report.
- US Housing is as affordable now as it has been in decades.
- Sales fell in three of four US regions, but were unchanged in the West (that’s us).
- The national inventory of unsold homes declined for the sixth consecutive month in January to the lowest level in about two years (a 9.6 month supply). Fewer homes on the market could reduce the downward pressure on prices.
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About Conformity, Progression, Regression, Foreclosures, and South Lake Tahoe Real Estate.
February 24th, 2009 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA
Or Why One Must Look at Foreclosure Statistics Separately in the South Lake Tahoe Home Sales Market.
We owe this to “Bob,” a reader who inspired this article, and the one before it.
It was here that we made this comment, “if one is interested in a home that is not a foreclosure, then understand that foreclosure statistics, much more often than not, will have little to no bearing on the purchase of a South Lake Tahoe house that is not in foreclosure.”
We closed that article by stating we understand this statement says a lot, and that some of you might find that we’re way out on a limb in making it. In other words, we realize that some of you might take exception to, or not immediately understand why we made it.
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A Readers Comment about South Lake Tahoe Home Foreclosures
February 23rd, 2009 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA
“Bob” leads us to a further cliarification about foreclosures and South Lake Tahoe home values.
We got an email for one of our readers a few days ago about a recent article on single family homes in escrow in South Lake Tahoe, CA. The February 19th article discusses a recent rise in the number of foreclosed homes in escrow and the differences between them and those homes in escrow that are not in foreclosure.
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A Comment from a Reader inspires us, and something from the NAR.
February 21st, 2009 categories: For Buyers, For Sellers, National real estate news
We’re working on something that was inspired by a recent comment for one of our readers. "Bob" helps us out with something we thought was clear, but perhaps not as much as we thought it was. What we’re working on as a result is both thought provoking and fun.
We hope to get it finished tomorrow, and the post will be a discussion of a few real estate economic principles that may, or may not, have much effect on our current South Lake Tahoe, CA home sales market.
In the meantime, here’s something we got this week from the National Association of REALTORS. Sometimes we don’t read these, but we did stop and read this one. Hopefully there’s something in it that’s helpful.
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A Closer Look at Current South Lake Tahoe Homes in Escrow.
February 19th, 2009 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA
An increase in home foreclosures… creates questions about value, and the need to dig deeper…to understand it!
In our recent report on South Lake Tahoe, CA single-family homes currently in escrow, we uncovered a rather sharp increase in the percentage of homes that are in foreclosure, ( here).
Of the 354 South Lake Tahoe, CA 2008 single family home sales, 71 of them (20%) were foreclosed, or bank owned homes. Of the 54 homes that were in escrow at the time of our recent report, however, 58% of them were in foreclosure.
Our recent report of 2009 South Lake Tahoe single family home sales (only 28 of them) also found that 53% of them were in foreclosure, (here).
What is consistent in all 3 of these recent reports is the value of a foreclosed home is significantly different than a home that is not bank owned. A few weeks ago we did a study about this as it related to all 2008 South Lake Tahoe single family home sales, (here).
What we’re seeing is we have "a market" within our market, one that is separate and apart from the South Lake Tahoe, CA real estate market as a whole. It’s so different, and which such an effect on the median sold price, that we’ll now be doing foreclosure studies as part and parcel of the regularly published market reports we’ve been doing for the last 2 years. This is one of those.
First, lets look at foreclosures in escrow, then we’ll follow this article with one focusing on 2009 sales thus far. What this will reveal is it is absolutely necessary to take foreclosed homes out of the mix when looking at a home that is not bank owned, and conversely looking only at foreclosed homes and/or short sales if one is interested in buying one of these.
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A Closer Look at South Lake Tahoe Home Sales Demand.
February 18th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA
South Lake Tahoe Home Sales are about the Same as they were this time last year.
We’ve seen a slight decline in the monthly absorption rate since the first of January this year. At present the South Lake Tahoe market performance for the last 180-days has averaged 29.5 single family home sales per month. On January 4th, that same number was 34.2, a difference of about 5 home sales per month.
Looking at this one might think that this represents a startling change in market demand. It is however rather normal for South Lake Tahoe this time of year.
This is an example of why we should look at real estate market performance data from more than one direction. The idea is of course to get as quick and as easy an understanding of the market as possible… without having to do what we do, which is crunch numbers and study the market most all of the time. We do this for you… so you won’t have to.
In addition to monthly absorption rates (here), one should also look at Monthly and Annual sales as a guide to better appreciate market demand:
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The State of the South Lake Tahoe Real Estate Market Right Now
February 17th, 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 for the first six weeks of 2009 is similar to that of 2008, 18 sales v. 15 sales respectively. Supply is about the same as we normally see this time of year..
Prices in the last 6 weeks have been affected by a significant increase in the percentage of foreclosed sales compared to homes that are not (The difference is $99,708.)
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South Lake Tahoe, CA Real Estate Update: Home Sales in the Last 365 Days
February 17th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA
Home Sales Summaries for South Lake Tahoe, CA.
We’ve updated your real estate home sales summaries and Market Performance for South Lake Tahoe, CA.
The median sold price has remained essentially the same as it was last month, $388,000. (It was $390,000 on Jan. 4th.) This is based on all single family sales in South Lake Tahoe, CA in the last 180 calendar days. The median sold price for the last 365 days is now $379,500. (It was also $390,000 on Jan 4th.)
A month ago, and for the last quarter prior, we were seeing signs that the market was flattening, or close to stabilization. Now, we’re seeing further declines in value, particularly over the last 60 days.
Perhaps the key contributing factor to further reductions in overall market value is the effect of foreclosed home sales on our market.
Since the first of this year, we have seen a marked 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.
In general the foreclosed home sold in 2008 was $70,000 less in value than a home that was not bank owned. (review of study, here)
At present 53% of South Lake Tahoe 2009 home sales were in foreclosure. Of the 55 homes currently in escrow, 58% of these are also in foreclosure.
In fact, we have a "market" within a market. Foreclosed homes are having a significant downward pull on our market-wide median sold price, but one must separate foreclosures to best understand home values in the current South Lake Tahoe real estate climate. (We are happy to separate foreclosures for you specifically ( email us) and we’ll be exploring in detail the effect that foreclosures has on the general market in two posts shortly.)
All South Lake Tahoe home sales in the last 365 days, here.
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South Lake Tahoe Home Sales Demand: Report on Absorption Rates
February 17th, 2009 categories: Absorption Rates, For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA
The Number of South Lake Tahoe Homes Sold Per Month.
We’ve updated the Absorption Rates for your South Lake Tahoe, CA real estate market. This the best method there is for tracking South Lake Tahoe housing demand over time.
Find market-wide absorption rates for South Lake Tahoe, CA here.
Below is a bullet-point summary of the current housing demand in South Lake Tahoe.
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South Lake Tahoe, CA: All 2009 Home Sales Report
February 16th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA
South Lake Tahoe 2009 Single Family Home Sales to date.
We have just updated all 2009 South Lake Tahoe, CA residential home sales. As of today, there have been 28 home sales in South Lake Tahoe, CA this year.
All South Lake Tahoe 2009 home sales here.
Statistics for all 2009 home sales here.
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