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South Lake Tahoe, CA Real Estate News: Escrow Report

June 7th, 2010 categories: Escrow Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA, short sales

South Lake Tahoe Real Estate Market Update: Escrow Report

101 Homes in Escrow in South Lake Tahoe… 60.4% are Distressed Sales!

(South Lake Tahoe, CA real estate news, June 7, 2010 by Richard Bolen)

We have just updated the South Lake Tahoe Real Estate Market Escrow Report. There are 101 homes in escrow at present. (This same number was 102 a month ago, 109 in March, and 93 last December.)

Escrow is 28.3% of the current  357 active homes listed on the market in South Lake Tahoe, CA.

  • Throughout 2009 the percentage of homes in escrow ranged from 9.5% to 29.9%.
  • The current percentage is a few percentage points lower than our escrow load since late February (ranging from 27.1% to 36.5% since then).
  • 23.2% of available homes was in escrow at this same time last year.
  • There are 3% fewer distressed sales in escrow than there were a month ago.

Note the 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 $298,500 (not including homes in The Tahoe Keys)
  • It was $309,000 a month ago, $349,000 four months ago, and $339,000 five months ago.
  • Median Sold Price for these homes will be less than the $298,500 current listed median price above.
  • Escrow normally takes about 60 days in South Lake Tahoe, CA.

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

  • There are 357 available listings that are not in escrow in South Lake Tahoe, CA at present.
  • There are 101 homes in escrow.
  • This is 7  more homes in escrow than this time last  year (see chart below).

 Escrow and Foreclosures :
Of the 101 homes currently in escrow in South Lake Tahoe, CA, 61 are distressed sales (60.4% now, it was 63% a month ago, 73.2% four months ago, 54.5% five months ago):

  • 16 are bank owned (REOs)
  • 45 are short sales

South Lake Tahoe Real Estate Market Update: Escrow Report

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 Monday, June 7th, 2010 at 10:49 am and is filed under Escrow Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA, short sales. 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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