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South Lake Tahoe Escrow Report: Stateline, NV

May 12th, 2009 categories: Escrow Report, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, South Lake Tahoe Statistics, Stateline, NV

Homes 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 14 homes in escrow. (see chart below)

Note that we've also added stats below for the number of homes in escrow that are distressed sales (foreclosures and/or short sales).

While it does appear that the market is still in decline in terms of value, it is important to note that nearly 80% of homes currently in escrow are distressed sales (REOs or short sales). See study on the effect of distressed sales on our overall market here.

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

Escrow Summary:

Here’s what the latest escrow information tells us about current market conditions in Stateline, NV:

The Median Price for the homes in escrow is $552,500 (not including Lake Front Properties and homes in Glenbrook).
It was $624,700 a month ago. (See study about "conformity" and foreclosures here.)
Escrow normally takes about 60 days.
The homes in escrow now generally reflect buying activity from March forward.

Escrow and Inventory:
The chart tracks the number of listed homes and those in escrow since November of 2006.

There are 129 available listings in Stateline, NV right now.
There are 14 homes in escrow.
This is almost twice as many homes in escrow than at this time last year.

Escrow and Foreclosures:
Of the 14 homes currently in escrow in Stateline, NV:

11 are distressed sales (78.6%)
- 7 are short sales
- 4 are bank owned properties (REOs)

What it Means: Good News for Buyers
There are significant buying opportunities in Stateline, NV right now.

Interest rates are better than they have been in years.
Home prices have come down (some considerably).
Every Buyer has many choices.
Some Sellers are extremely eager to sell.
There are some Sellers who will be more reasonable than others.

More Stateline, NV Escrow Reports:

May 17, 2010 Escrow Report, here.
March 27, 2010 Escrow Report, here.
December 20, 2009 Escrow Report, here.
November 2, 2009 Escrow Report, here.
August 16, 2009 Escrow Report, here.
July 21, 2009 Escrow Report, here.
May 12, 2009 Escrow Report, here.
April 5, 2009 Escrow Report, here.
March 16, 2009 Escrow Report, here.
February 9, 2009, More Homes in Escrow than Usual, here.
December 31, 2008 Escrow Report, here.