Lake Tahoe Real Estate News: the first half of 2010

July 22nd, 2010 categories: Lake Tahoe Real Estate

Lake Tahoe Real Estate NewsIt's Better in South Lake Tahoe, CA, and Somewhat the Same for the Nevada side of the Lake.

There are various reports and press releases floating around out there pertaining to real estate activity in the first half of 2010. This is the one that is accurate.

The sources for this report are the four different multiple listing services that serve the Lake Tahoe area. All herein is documentable and such will be provided upon request.

REAL ESTATE RECAP from Jan 1, 2010 to June 30, 2010: (MLS source indicated for each area)

 South Lake Tahoe, CA: (South Tahoe Association of Realtors MLS)

  • The median sold price not including the Tahoe Keys is: $315,500
  • The median sold price including the Tahoe Keys is: $329,500
  • The median sold price for the same time period last year including the Tahoe Keys was: $315,000
  • Median sold price of bank owned homes sold is: $237,500
  • Median sold price of short sales sold is: $351,500
  • The number of homes sold is: 242
  • The number of homes sold as of June 30th last year was: 167
  • The increase in home sales this year compared to the same time period last year is: 75 (44.9%)
  • The percent of distressed homes sold is: 51.2%
  • The percent of distressed homes sold all of last year was: 39.9%
  • The price range where most home sales are is: 42.6% under $300,000 (103 of 242 total sales)
  • The price range where most distressed home sales are is: 54% under $300,000 (67 of 124 distressed sales)
  • The number of luxury homes sold above $1,000,000 is: 6
  • The number of luxury homes sold above $1,000,000 this time last year was: 2

 Stateline, NV : (Northern Nevada Regional MLS)

  • The median sold price not including Lakefront Properties or Glenbrook is: $485,000
  • The median sold price including the Lakefront Properties or Glenbrook is: $519,900
  • The median sold price for the same time period last year including Lakefront Properties or Glenbrook was: $520,000
  • Median sold price of bank owned homes sold is: $407,000
  • Median sold price of short sales sold is: $457,500
  • The number of homes sold is: 39
  • The number of homes sold as of June 30th last year was: 39
  • The increase in home sales this year compared to the same time period last year is: 0 (0%)
  • The percent of distressed homes sold is: 25.6%
  • The percent of distressed homes sold all of last year was: 47%
  • The price range where most home sales are is: 48.7% under $500,000 (19 of 39 total sales)
  • The price range where most distressed home sales are is: 72.7% under $500,000 (8 of 11 distressed sales)
  • The number of luxury homes sold above $2,000,000 is: 3
  • The number of luxury homes sold above $2,000,000 this time last year was: 5
  • The number of ultra luxury homes sold above $5,000,000 is: 2
  • The number of ultra luxury homes sold above $5,000,000 this time last year was: 0

 Truckee / Tahoe City / Squaw Valley / Tahoma : (Tahoe Sierra Board of Realtors MLS)

Note that the Tahoe Sierra MLS covers a wide area on the west side of Lake Tahoe, from Tahoma to Truckee, including Tahoe City and Squaw Valley.

Also note that Tahoe Sierra real estate activity has little to no bearing whatsoever on real estate activity or prices in the South Lake Tahoe, CA and Stateline, NV area. Conversely, real estate activity here has no bearing there as well.

  • The median sold price for the entire Tahoe Sierra MLS from Jan 1, 2010 to June 30, 2010 is: $495,000
  • Number of Tahoe Sierra MLS homes sold in this time period: 347
  • Number of distressed sales: 120 (34.6%)
  • Number luxury home sales above $2,000,000: 12
  • Number ultra luxury home sales above $5,000,000: 1

For more information on the Truckee / Tahoe City area, please contact us.

 Incline Village : (Incline Village Board of Realtors MLS)

Note that Incline Village real estate activity has little bearing on real estate activity or prices in the South Lake Tahoe, CA and Stateline, NV area. Conversely, real estate activity here has no bearing there as well.

  • The median sold price for Incline Village from Jan 1, 2010 to June 30, 2010 is: $815,000.
  • The median sold price for Incline Village from Jan 1, 2010 to June 30, 2010 not including two ultra high end lakefront sales is: $775,000.
  • Number of  homes sold in this time period: 45
  • Number homes sold in same time period last year: 36
  • Number of distressed sales: 14 (31.1%)
  • Number luxury home sales above $2,000,000: 9
  • Number luxury home sales above $2,000,000 in same time period last year: 11
  • Number ultra luxury home sales above $5,000,000 this year: 2
  • Number ultra luxury home sales above $5,000,000 this time period last year: 1

For more information on the Incline Village area, please contact us.

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This entry was posted on Thursday, July 22nd, 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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