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South Lake Tahoe, CA Home Listings Update: Escrow Report

July 18th, 2009 categories: Escrow Report, For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe Real Estate Market Update: Escrow Report30 more Homes in Escrow in South Lake Tahoe than this time last year… 48% are Distressed Sales!

We have just updated the South Lake Tahoe Real Estate Market Escrow Report. There are 88 homes in escrow at present. (This same number was 94 a month ago ago.)

This is 18.9% of the current 465 homes on the market in South Lake Tahoe, CA. Throughout the last calendar year the percentage of homes in escrow has ranged from 9.5% to 24.6%.There were 11.7% of available homes in escrow at this same time last year.

Note that we had recently added a new category below that addresses the number of bank owned properties (REOs) and short sales in escrow  v. those that are not. You’ll also find this on our spreadsheets and statistics charts as well. (here)

All homes in escrow, here.

Statistics on all  homes in escrow here.

You will find the link “All Escrow – South Lake Tahoe, CA”, in our left sidebar. This will lead you to a spreadsheet containing all homes in South Lake Tahoe, CA that are currently in escrow.

Escrow Summary :

Here’s what the latest escrow information tells us about current market conditions in South Lake Tahoe, CA:

  • The Median Price for the homes in escrow is $319,000 (not including homes in The Tahoe Keys)
  • It was $337,450 a month ago (not including homes in The Tahoe Keys), which has more to do with what has been recently purchased, rather than an indication of any new, significant change in overall market value.
  • Median Sold Price for these homes will be less than the $319,000 current listed median price above.
  • Escrow normally takes about 60 days in South Lake Tahoe, CA.
  • The homes in escrow now generally reflect buying activity from March forward.

 Escrow and Inventory :
The chart below tracks the relationship of homes that are listed and homes in escrow since November of 2006.

  • There are 465 available listings in South Lake Tahoe, CA at present.
  • There are 88 homes in escrow.
  • This is 30  more homes in escrow than this time last  year (see chart below).

 Escrow and Foreclosures :
Of the 98 homes currently in escrow in South Lake Tahoe, CA, 43 are distressed sales (48.9% now, it was 59.6% a month ago):

  • 9 are bank owned (REOs)
  • 34 are short sales

South Lake Tahoe Real Estate Market Update: Escrow Report

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

  • Interest rates remain reasonable.
  • Prices have come down in the last year.
  • A Buyer still has many homes from which to choose.
  • Many Sellers remain eager to sell (and some not, unfortunately).

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. (Use comments box below.)

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This entry was posted on Saturday, July 18th, 2009 at 9:06 am and is filed under Escrow Report, For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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