South Lake Tahoe, CA Market Statistics
- All Sales in the last 365 Days
- Absorption Rates - Last 365 Days
- 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 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
Stat Counter
The Effect of Foreclosures on South Lake Tahoe, NV Home Values
December 22nd, 2009 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, South Lake Tahoe Statistics, Stateline, NV
There is a big difference between the the value of a South Lake Tahoe, NV foreclosed property and one that is not.
A distressed property is a bank owned (REO) home, or a short sale, and there is a significant difference between a distressed property in South Lake Tahoe, NV and one that is not.
Lets look at the effect of distressed properties on all 2009 South Lake Tahoe, NV single family home sales.
Statistics and charts below.
The Bottom Line: South Lake Tahoe, NV 2009 Home Sales (see comparison chart below)
- Total number 2009 single family home sales: 82 (not a typo, that’s it!)
- Distressed home sales have a 25.8% downward pull on the current South Lake Tahoe, NV median sold price.
- The distressed property costs 48.5% less.
- It is listed 69.7% lower.
- It sells almost twice as fast (45.4%).
- It is 25.9% smaller than a house that is not distressed (difference of 750 sq ft)
- It is 7 years older.
The Distressed Home Sale Difference:
In effect, we have two different real estate markets in South Lake Tahoe; NV: one of distressed properties and one of properties that are not. The forces of one have little to do with the forces of the other. (See study here about the unique characteristics of our second home resort market.)
- Median Sold Price: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: $547,500
- All 2009 Distressed home sales: $380,250
- All 2009 Not Distressed home sales: $738,000
- Difference between them: $357,750 (48.5%)
- Overall foreclosure effect on 2009 median sold price: negative 25.8%
- Average Sold Price: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: $1,077,105
- All 2009 Distressed home sales: $454,403
- All 2009 Not Distressed home sales: $1,569,407
- Difference between them: $1,094,004 (69.7%)
- Overall foreclosure effect on 2009 average sold price: negative 31.4%
- Average List Price: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: $1,398,129
- All 2009 Distressed home sales: $602,976
- All 2009 Not Distressed home sales: $2,048,709
- Difference between them: $1,445,733 (70.6%)
- Overall effect on 2009 average list price: negative 31.8%
- $ Difference Avg. List Price v. Avg. Sold Price: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: $321,024
- All 2009 Distressed home sales: $127,572
- All 2009 Not Distressed home sales: $479,302
- Difference between them: $351,730 (73.4%)
- Overall effect on 2009 sales: The non distressed property has 33% more reduction off its average list price than that of a distressed sale.
- Average Days on Market: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: 203
- All 2009 Distressed home sales: 140
- All 2009 Not Distressed home sales: 256
- Difference between them: 116 days (45.4%)
- Overall effect on 2009 days on market: negative: It takes almost twice as long to sell a non distressed house compared to one that is either bank owned or a short sale.
- Average Price Sq Ft: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: $378
- All 2009 Distressed home sales: $213
- All 2009 Not Distressed home sales: $513
- Difference between them: $300 sq ft (58.4%)
- Overall effect on 2009 price per square foot: negative 25%.
- Average Size: (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: 2,353 sq ft
- All 2009 Distressed home sales: 1,957 sq ft
- All 2009 Not Distressed home sales: 2,696 sq ft
- Difference between them: 739 sq ft (27.4%)
- Overall foreclosure effect on 2009 sq ft size: negative 26.3%.
- Average Age (Year Built): (Glenbrook and Lakefront Properties ARE included)
- All 2009 single family home sales: 1976
- All 2009 Distressed home sales: 1973
- All 2009 Not Distressed home sales: 1979
- Difference between them: negative 7 years
The chart below indicates all 2009 South Lake Tahoe, NV single family home sales, including both distressed and non distressed properties. (Glenbrook and Lakefront properties are included)
The chart below indicates all 2009 South Lake Tahoe, NV distressed home sales only.
The chart below indicates all 2009 South Lake Tahoe, NV non-distressed home sales only.
The chart below indicates a comparison of all 2009 South Lake Tahoe, NV single family home sales.
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