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South Lake Tahoe, CA Homes in Escrow

September 4th, 2010 categories: Escrow Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

109 Homes in Escrow in South Lake Tahoe, CA… 45.9% are Distressed Sales!

We have just updated the South Lake Tahoe Real Estate Market Escrow Report. There are 109 homes in escrow right now. This same number was 101 in June, 102 in May, 109 in March, and 93 last December.

Escrow is 26.2% of the current 416 active homes listed on the market in South Lake Tahoe, CA.

Throughout 2010 the percentage of homes in escrow has ranged from what it is now to 36.5%.
Throughout 2009 the percentage of homes in escrow ranged from 9.5% to 29.9%.
What this means is housing demand has increased throughout this year over last.

All homes in escrow, here.

Statistics on all homes in escrow here.

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 $299,900 (not including homes in The Tahoe Keys)
It was $298,500 in June, $309,000 in May, and $329,4580 in February.
Median Sold Price for these homes will be less than the $299,900 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.

As of today, there are 416 available listings that are not in escrow in South Lake Tahoe, CA.
There are 109 homes in escrow.
This is only 2 more homes in escrow than this time last year (see chart below).
What this means is we're seeing about the same demand in the mid third quarter this year as last year.

Escrow and Foreclosures :
Of the 109 homes currently in escrow in South Lake Tahoe, CA, 50 are distressed sales (45.9% now, 60.4% in June, it was 63% in May, and as high as 73.2% in the first quarter of the year: