Lake Tahoe RSS Feed

The State of the Stateline, NV Real Estate Market Right Now

August 18th, 2009 categories: For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, South Lake Tahoe Statistics, Stateline, NV

Current State of the South Lake Tahoe Real Estate MarketFive key Stateline, NV market indicators: Demand, Supply, Escrow, Prices, Absorption.

The following is a summary of all key South Lake Tahoe real estate market indicators for Stateline,  NV.  Details for each of the five key indicators follows.

(click "read the rest of this entry" below)

 Demand :

  • There has been 54 single family homes sold in 2009.
  • 44.4% of these are distressed properties.
  • There has been 79 single family homes sold in the last 365 days.
  • 39.2% of these are distressed properties.

 Supply :

  • There are 146 homes currently listed.
  • 9 of these are distressed properties.
  • At current market performance rates of 8.3 sales per month, it will take 17.5 months to sell all of the homes that are on the market in Stateline, NV now.

 Escrow :

  • There are 17 homes in escrow at present.
  • This is one less than the number of homes in escrow at this time last year.
  • 70% of the current homes in escrow are distressed properties (either bank owned  or short sales).

 Prices : (not including Lakefront Properties and Glenbrook)

  • The median sold price for the last 365 days is $500,000.
  • In the last 180 days, the median sold price is $512,500.

 Absorption : (Demand)

  • The Stateline, NV monthly absorption rate for 2008 was  5.9 sales per month.
  • The Stateline, NV real estate market is currently averaging 8.3 home sales per month (last 180 days).
  • The Stateline, NV real estate market is currently averaging 8.3 home sales per month (last 90 days).
  • The absorption rate in 2007 was  6.1 sales per month.

Here are the details:

Demand:

  • The total number of 2008 sales was 69.
  • The total number of home sales for 2007 was 74.
  • The total number of home sales in the last 365 days is 71.
  • The total number of home sales in 2006 was 89.
  • The total number of home sales in 2005 was 140.
  • The total number of home sales in 2004 was 177.

Supply (Inventory)

  • The current number of homes available for sale in Stateline, NV is 146.
  • The same number a year ago was 145.

Escrow:

  • The number of homes in escrow at present is 17.
  • The number of homes in escrow at noted at various dates in the last 365 days has ranged from  6  to 21.
  • The number of homes in escrow a year ago about this date was 18.

Prices: (not including Lake Front Properties and Glenbrook)

  • The median sold price for 2008 was $575,000.
  • The Median Sold Price for all Stateline, NV homes in 2007 was $854,500.
  • The Median Sold Price for a Stateline, NV home in 2006 was $835,000.
  • The Median Sold Price for a Stateline, NV home in 2005 was $775,000.

Monthly Absorption Rate (average number home sales per month)

  • The Stateline, NV real estate market averaged 5.9 home sales per month in 2008.
  • For the last 365 days, the Stateline, NV real estate market has averaged 6.6 home sales per month.
  • For the last 180 days, the monthly absorption rate is 8.3.
  • Thus far in 2009, the monthly absorption rate is 7.2.
  • The absorption rate in 2007 was  6.1 sales per month.
  • The Stateline, NV real estate market averaged 7 home sales per month in 2006.
  • The Stateline, NV real estate market averaged 12 home sales per month in 2005.
  • The Stateline, NV real estate market averaged 15 home sales per month in 2004.

What it all Means:

  • Median Sold Prices are continuing to correct, though
  • Demand has been essentially the same for the last 2 years.
  • There are many excellent opportunities to Buy.

Tags: , , , , , , , , ,

This entry was posted on Tuesday, August 18th, 2009 at 8:17 am and is filed under For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, South Lake Tahoe Statistics, Stateline, NV. 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.

Leave a Reply

You must be logged in to post a comment.

Real Esate Tomato Chiclet