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Looking at the South Lake Tahoe, CA Median Sold Price

March 6th, 2010 categories: Lake Tahoe Real Estate

The South Lake Tahoe, CA median sold price

You know, the South Lake Tahoe median sold price actually increased last month… for the first time since Oct. 2008!

Yes, we know the chart below is a prodigious one, but it contains a full accounting of the South Lake Tahoe, CA median sold home prices since we started this blog.

If you are one of our prior readers, then you know we believe the median sold price is the best known indicator of market trends and conditions as it relates to home value.

We always look at the median sold price in four intervals, over 365, 180, 90 and 30 days (here). Its important to us to see where we've been, so we can best be helpful about where we are now.

We've been studying the median sold price since 2002. In doing that, we have crunched the numbers in exactly the same method every time since then. This gives us an apples to apples comparison, so to speak, a continuum which is essential we think to accurate real estate reporting.

Since the South Lake Tahoe real estate market changed from a strong sellers market to an equally strong buyers market, a timely descent, if you will, which started around labor day of 2005 (Katina), it has taken about 6 months on average to sell a house. At present that number is 152 days, and as such we feel that a focus on a six months market, which is 180 days, gives the truest reflection of market trend and condition.

When considering the South Lake Tahoe, CA median sold price, we may take one of our neighborhoods, The Tahoe Keys, out of the mix.  If so, that is always disclosed, and we do that because it is a singularly unique neighborhood, the only one in South Lake Tahoe that has waterfront access through backyard canals. When The Tahoe Keys is included in the median sold price mix, it normally skews the number higher between 3% to 5.5% (see second chart below).

 Current Median Sold Price Summary   : (what's new, if anything, and we're looking at 180-day results… excluding the Tahoe Keys)

  • The current South Lake Tahoe, CA median sold price is $303,750.
  • It was that same number a month ago.
  • The median sold price has not varied by more than $5,000 in the last 6 months (since October).
  • With the exception of last month, which saw an increase in the median sold price of 1.3% ($3,750), we have not seen an increase in the median sold price since October, 2008
  • In other words, the South Lake Tahoe, CA median sold price has declined, or stayed the same, every month in the last 17 months… except last month.

 A Special Note : (if we had to point a finger at just one thing)

Note the red outline around two cells in the chart below. This we think is when and where things changed most dramatically.

This, in May of '09, is when South Lake Tahoe, CA really began to feel the effect of distressed property sales on our real estate market.

We're working on a separate report on this and details will follow shortly.

The chart below indicates median sold price results as reported on this blog since April, 2007.

South Lake Tahoe, CA median sold home prices since 2007.

The chart below indicates South Lake Tahoe, Ca median sold prices by year since 2000. Note the differences in home values when the Tahoe Keys is included, and then not.

South Lake Tahoe, CA median sold prices by year since 2000

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This entry was posted on Saturday, March 6th, 2010 at 8:07 am and is filed under Lake Tahoe Real Estate. 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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