South Lake Tahoe, CA Real Estate News: A change in the median sold price?

April 30th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Major Market Reports, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

The South Lake Tahoe, CA Median Sold Price... right now!

Something Different Has Happened, and It Has Been a While!

We have just updated all South Lake Tahoe, CA home sales in the last 365 days in the post below.

While doing that study we noticed a few, important things that are worthy of further discussion.

As many of you may know, we have been filing regular reports on median sold prices in South Lake Tahoe since we started this blog 3 years and two months ago.

We use the median sold price as a guide. To us this is the best possible indicator of overall market condition.

Because we are a second-home resort real estate market characterized by a longer sales cycle than most primary home markets, we think it wise to look at performance over 180-days as a key market indicator. On average it takes about 160 days for a house to sell in South Lake Tahoe.

Yes, we realize the chart below is a long one; we've been tracking it since April 7, 2007. We've used an abbreviated version of it recently, but we wanted you to see all of it for this study.

 Chart Summary : (the median sold price over time)
Here's what we're seeing that's important:

  • The median sold price increased by 3.1% in the last month (from $305,000 to $314,500).
  • This is the largest single increase we have seen in any one of our reporting periods since April 7, 2007.
  • There was a 1.3% increase on February 2nd, and a .4% (point 4) increase on March 15th (from $303,750 to $305,000).
  • Other than these other two most recent, slight increases, we have not seen a median sold price increase since October 15, 2008.
  • The current 3.1% increase, and the .4% increase we saw last month represents the first two positive months in a row that have been seen since May, 2008.

South Lake Tahoe, Ca median sold price since April, 2007

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This entry was posted on Friday, April 30th, 2010 at 1:06 pm and is filed under For Buyers, For Sellers, Lake Tahoe Real Estate, Major Market Reports, Sales Reports, 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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