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South Lake Tahoe Real Estate News: Stateline, NV Escrow Report

September 2nd, 2010 categories: Escrow Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Major Market Reports, South Lake Tahoe Statistics, Stateline, NV

Homes in Escrow in the Stateline, NV area of South Lake Tahoe.

At present there are 10 homes in escrow. That same number was 17 on June 21, the beginning of the South Lake Tahoe summer season. This is 7 homes less than the number of homes that were in escrow about the same time last year.

Of these homes in escrow, 20% are distressed sales (REOs or short sales). That same number was 45% at the end of May, and was trending about 50% throughout the first quarter of 2010.

All Current Escrow – Stateline, NV, plus statistics, here

Escrow Summary:

Here’s what the latest escrow information tells us about current market conditions in Stateline, NV:

The Median Price for the homes in escrow is $824,863 (not including Lake Front Properties and homes in Glenbrook).
It was $824,863 at the end of June, and $765,966 in the spring. (See study about "conformity" and foreclosures here.)
The wide variance in the median price of homes in escrow is not an indication, necessarily, of a change in home value, but it does indicate the price range of recent buyer interest.
Escrow normally takes about 60 days, except for short sales which can take much longer.
The homes in escrow now generally reflect buying activity from March and April forward.

Escrow and Inventory:
The chart tracks the number of listed homes and those in escrow since November of 2006.

There are 135 available listings in Stateline, NV right now.
This is only one more home on the market than at the end of June.
There are 10 homes in escrow.
This is 7 less homes in escrow than at the end of August last year.

Escrow and Foreclosures:
Of the 10 homes currently in escrow in Stateline, NV:

2 are distressed sales (20%)
- 1 is a short sale
- 1 is a bank owned property (REO)

Recent Stateline, NV Escrow Reports:

June 21, 2010: Escrow Report, here.
May 18, 2010 Escrow Report, here
March 27, 2010 Escrow Report, here.
December 20, 2009 Escrow Report, here.
November 2, 2009 Escrow Report, here.
August 16, 2009 Escrow Report, here.
July 21, 2009 Escrow Report, here.
May 12, 2009 Escrow Report, here.
April 5, 2009 Escrow Report, here.
March 16, 2009 Escrow Report, here.
February 9, 2009, More Homes in Escrow than Usual, here.
December 31, 2008 Escrow Report, here.