South Lake Tahoe, CA Market Statistics
- All Sales in the last 365 Days
- Absorption Rates - Last 365 Days
- All 2011 South Lake Tahoe, CA Sales
- All 2010 South Lake Tahoe, CA Sales
- All 2009 South Lake Tahoe, CA Sales
- All Current Escrow - South Lake Tahoe, CA
- Al Tahoe, CA
- Bijou, CA
- Black Bart, CA
- Christmas Valley, CA
- Gardner Mountain, CA
- Heavenly Valley, CA
- Highland Woods, CA
- Meyers, CA
- Montgomery Estates, CA
- Pioneer Trail, CA
- North Upper Truckee, CA
- Sierra Tract, CA
- S. Lake Tahoe Condos, CA
- The Tahoe Keys Condos, CA
- Stateline Area, CA
- Tahoe Island Drive, CA
- Tahoe Island Park, CA
- The Tahoe Keys, CA
- Tahoe Paradise, CA
- Y Area, CA
Stateline, NV Market Statistics
- All Sales in the Last 365 Days
- Absorption Rates - Last 365 Days
- All 2011 Stateline, NV Sales
- All 2010 Stateline, NV Sales
- All 2009 Stateline, NV Sales
- All Current Escrow - Stateline, NV
- Cave Rock, NV
- Glenbrook, NV
- Hidden Woods, NV
- Kingsbury (Lower), NV
- Kingsbury (Middle), NV
- Kingsbury (Upper), NV
- Lakefront Properties, NV
- Round Hill, NV
- Skyland, NV
- Summit Tahoe Village (Condos), NV
- Lake Village TownHomes, NV
- Zephyr Heights, NV
Stat Counter
Archive for November, 2010
South Lake Tahoe today, Consumer Confidence, Home Value Decline and other thoughts.
November 30th, 2010 categories: Buyers Report, For Buyers, For Sellers, Foreclosures, Interest Rates, Lake Tahoe Real Estate, Lake Tahoe Weather, South Lake Tahoe Statistics, South Lake Tahoe, CA
Lots of Snow, Consumer Confidence Up, and good news for South Lake Tahoe home buyers.
There are two national articles of note today, and we have the current South Lake Tahoe weather that's even more remarkable.
It's not unique to have lots of snow here in South Lake Tahoe, but what's different is we have it now. We have not seen this much snow before and during the Thanksgiving holiday since we moved here a decade ago.
What makes this so special is all winter resorts are open and functioning. This is both wonderful for our visitors, and is consequently terrific for our local economy. There's even the possibility of more snow throughout the week. A good South Lake Tahoe winter season effects everything. (South Lake Tahoe weather here)
So, spirits are up, and heading into the Christmas holidays, things are looking good. Two other national reports today come with good news too.
Consumer Confidence:
Today comes with the highest level of consumer confidence in 5 months. It's still below low by historic standards, but the good news is it is heading in the right direction. Here's a few points in the CNNMoney.com article:
- Optimism about the U.S. economy grew in November.
- This latest reading on consumer sentiment to the highest level since June — welcome news ahead of the holiday shopping period.
- Consumer confidence is now at its highest level in five months.
- Consumer outlook for the next few months improved to the highest level since May.
- More Americans expect business conditions to pick up over the next several months, and fewer expected circumstances to worsen.
(full article here)
Home Prices falling faster : (so what about South Lake Tahoe?)
Today's Case Schiller home price index reveals that home prices are falling faster in the nation's largest cities. The Associated Press article also states that a record number of foreclosures are expected to push prices down further through next year. (We've written much about foreclosure deluge predictions before.) A few points:
The largest recent home value decline was in Cleveland (from August to September).
Home prices during that same time period also dropped somewhat in San Francisco, Los Angeles and San Diego.
Washington and Las Vegas were the only metro areas to post gains in monthly prices.
(full article here)
About South Lake Tahoe:
Here is the current take on the South Lake Tahoe, CA median sold price:
- All 2010 Sales: $318,250, with the Tahoe Keys, $297,750 without the Tahoe Keys.
- Sales in the last 180 days: $280,000, without the Tahoe Keys.
Where we were a year ago:
- All 2009 Sales: $317,750, with the Tahoe Keys, $305,000, without the Tahoe Keys.
- Sales in the last 180 days as of last December: $300,000, without the Tahoe Keys.
Previous Lake Tahoe Real Estate Blog series that's good for home buyers:
Oct 26, 2010: Part 1, Mortgage Interest Rates Then and Now
Oct 27, 2010: Part 2, Monthly Mortgage Payments Then and Now
Oct 28, 2010: Part 3, The $300,000 South Lake Tahoe House Then and Now
Oct 31, 2010: Part 4, It is a Good Time to Buy a South Lake Tahoe house now
Previous Lake Tahoe Real Estate Blog posts about predictions of a foreclosure deluge:
Nov 23, 2010: South Lake Tahoe foreclosure listings by month
Jul 1, 2010: South Lake Tahoe Foreclosures… no change yet.
May 11, 2010: Where is the new foreclosures deluge?
Nov 15, 2009: October Foreclosures down… what does it mean?
| Discussion: Please leave a comment.
All South Lake Tahoe Real Estate Homes for Sale Statistics Updated
November 29th, 2010 categories: About this Blog, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA, Stateline, NV, Video Seminar Series
How to find and use the South Lake Tahoe real estate statistics here on the Lake Tahoe Real Estate Blog
We have just updated all South Lake Tahoe real estate homes for sale statistics here on the Lake Tahoe Real Estate Blog. We don't normally do a post when we update our stats, but we thought we might do so this time.
To date we have updated the South Lake Tahoe, CA statistics some 47 times in 2010 (about once a week). We have updated the Stateline, NV area of South Lake Tahoe, a much smaller market, some 25 times to date this year as well.
These updates fall into two categories: what we call major market reports, and reports on each key neighborhood on both sides of the state line that runs through the middle of our South Lake Tahoe real estate market.
There are five major market reports contained in each of these updates:
The list of neighborhoods and links to them are found in our left sidebar, and under the buttons in our top navbar. Each of our major market reports can be found under these same navbar buttons as well. These buttons are:
- South Lake Tahoe, CA Neighborhoods and stats.
- Lake Tahoe, NV Neighborhoods and stats.
To help as much as possible, here's a video tutorial that will easily show you how to exactly find the real time market trends, conditions and statistics we so consistently provide here.
Other Lake Tahoe Real Estate Blog videos you may enjoy:
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video
| Discussion: Please leave a comment.
The Best Jobs Report in Two Years… so what about South Lake Tahoe?
November 24th, 2010 categories: Buyers Report, For Buyers, For Sellers, Interest Rates, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA, Stateline, NV
Is this that point of a healthy US jobs market return? How does this effect South Lake Tahoe home buyers?
Ok, we admit we have an agenda behind reporting a good jobs report. It's good for all of us, especially here in South Lake Tahoe, and as we've much reported previously there will be little more than the status quo in the US housing market until there is health in the US jobs market.
As this report might effect those who are considering buying a South Lake Tahoe home, consider that we will not see meaningful growth in terms of price until there is a change in the US jobs market. When this happens, and it will happen gradually, it is reasonable to expect that mortgage interest rates will also start to climb.
Home prices in South Lake Tahoe are still low; there is no current sign of price growth, and interest rates are still near historic lows.
Last month, in a report here, we found that the mortgage interest rates were as low as 4.15%. Last Wednesday we checked that same number again, only to find it at 4.37%.
This jobs report, being the most positive since 2008, is not necessarily a point where we will look back years from now and cite this as the exact point of change back to a healthy US jobs climate, but it could be. More likely it will be seen as part of that gradual return we all know will eventually come.
The point is, and this is certainly possible, we could all look back years from now and say, you know, I should have bought back in 2010 before the recovery returned in earnest.
Here's a few bullet points from last Wednesday's CNNMoney.com article:
- the number of Americans filing for their first week of unemployment benefits sunk to its lowest level in more than two years.
- this far better than economists had expected.
- Economists usually say the number needs to drop below 400,000 before the unemployment rate can drop significantly.
Full article here.
Previous Lake Tahoe Real Estate Blog series on mortgage rates and the current buying climate:
Oct 26, 2010: Part 1, Mortgage Interest Rates Then and Now
Oct 27, 2010: Part 2, Monthly Mortgage Payments Then and Now
Oct 28, 2010: Part 3, The $300,000 South Lake Tahoe House Then and Now
Oct 31, 2010: Part 4, It is a Good Time to Buy a South Lake Tahoe house now
Previous Lake Tahoe Real Estate Blog posts:
Jun 26, 2010: The cheapest mortgage interest rates in a half century
Jun 18, 2010, Are We Seeing Any Change in South Lake Tahoe Home Values
Jun 17, 2010, South Lake Tahoe, CA 2010 Housing Demand
Apr 27, 2010, Can You Still Get a 5% Mortgage?
Apr 12, 2010: Does interest rate shopping effect your FICO score?
Apr 10, 2010: An Interest in Interest Rates
Apr 9, 2010: Thoughts on South Lake Tahoe New Home Sales
| Discussion: Please leave a comment.
South Lake Tahoe, CA 2010 Home Listings for Sale by Month
November 23rd, 2010 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, South Lake Tahoe Statistics, South Lake Tahoe, CA
Listing patterns throughout the year tells us one thing… no foreclosure deluge has hit South Lake Tahoe yet!
We thought it would be interesting to look at home listing patterns in South Lake Tahoe, CA throughout the year. Our goal in this study is to detect if there has been an increasing incidence of foreclosure listings, and to see if there have been any notable changes in traditional home listing patterns.
There's a chart below, and in it are the total homes for sale listings by month for 2010. Also are looks at the number of bank owned (REO) and short sales listed per month, and the percentage of distressed properties listed per month compared to home listings that were not distressed.
What's interesting to us is there are still homes on the market that were listed in 2006 and 2007 (only 3 of them, but still…), and there are some 55 homes on the market for sale that were listed in 2008 and 2009.
The Bottom Line :
A study of South Lake Tahoe, CA homes for sale listings in 2010 reveals:
- Listing volume follows traditional annual patterns: more homes for sale in the middle of the year than at the beginning or end.
- The incidence of bank owned and short sale listings has varied, rather than notably increased throughout the year.
- For the most part, the volume of distressed listings generally follows traditional listing patters, however, with more in the middle of the year than at either end.
- The greatest percentage of distressed listings was in the three months of the year (Q1).
- The least percentage of distressed listings was in the second quarter of the year (Q2).
- The greatest number of distressed listings was in the third quarter (Q3).
- The least number of distressed listings was in the second quarter (Q2).
The Details :
Lets look at South Lake Tahoe homes for sale listings by quarter for 2010 to date:
Total Number of Listings:
Q1: 150
Q2: 222
Q3: 223
Q4: 93 (as of Nov. 19, 2010)
Percentage of Listings that were distressed (bank owned or short sales)
Q1: 42.7%
Q2: 23.9%
Q3: 37.2%
Q4: 40.9% (as of Nov. 19, 2010)
Number of Bank Owned Listings (REOs):
Q1: 39
Q2: 36
Q3: 51
Q4: 20 (as of Nov. 19, 2010)
Number of Short Sales Listed:
Q1: 25
Q2: 17
Q3: 32
Q4: 18 (as of Nov. 19, 2010)
The chart below is the source of this study. (Here for chart in full size).
Previous Lake Tahoe Real Estate Blog posts:
Jul 1, 2010: South Lake Tahoe Foreclosures… no change yet.
May 11, 2010: Where is the new foreclosures deluge?
Nov 15, 2009: October Foreclosures down… what does it mean?
| Discussion: Please leave a comment.
South Lake Tahoe, CA 2010 Home Foreclosure Sales by Price Range
November 19th, 2010 categories: Lake Tahoe Real Estate
More than half of all South Lake Tahoe 2010 foreclosure home sales are under $300,000.
We thought it would be helpful to show you where all of the 2010 South Lake Tahoe, CA home foreclosure sales are in terms of price. This is pretty much the path of least resistance that most all South Lake Tahoe home buyers are taking this year.
By path of least resistance, what we mean is what most South Lake Tahoe home buyers are actually buying. These are the homes and price ranges that represent more than half of all South Lake Tahoe home sales this year, and more than half of all distressed property and foreclosure sales as well.
The Bottom Line :
Distressed property sales has been about half of the current South Lake Tahoe, CA real estate market climate. (A forthcoming post will show you distressed property incidence and frequency, a study that reveals less distressed property activity now than in the first of the year.)
- Of the 447 South Lake Tahoe, CA home sales this year, 202 of them were priced under $300,000 (45.2%).
- This is almost one out of every two South Lake Tahoe home buyers (more here).
- 47.2% (201 of 447) of all South Lake Tahoe homes sold this year are distressed properties, either bank owned sales (REOs) or short sales.
- This is also tantamount to one out of every two South Lake Tahoe home buyers (chart below).
- Nearly 60% of all South Lake Tahoe foreclosure and short sales sold in 2010 were priced under $300,000.
- Almost 25% of all South Lake Tahoe foreclosures and short sales sold in 2010 were priced under $200,000.
- Or, one out of every four distressed property sales was under $200,000.
- About 26% of all South Lake Tahoe foreclosures and short sales sold in 2010 were priced over $400,000.
- In other words, more than twice as many foreclosure and short sales were priced under $300,000 than were priced over $400,000.
- To date in 2010, there has been twice as many bank owned sales (REOs) as short sales.
The chart below is the source of this study. (Click here to see it in full size)
Other relevant Lake Tahoe Real Estate Blog posts:
Nov 16, 2010: South Lake Tahoe Home Sales Per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
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| Discussion: Please leave a comment.
South Lake Tahoe Business Spotlight: SugarPine Bakery
November 19th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe Businesses, South Lake Tahoe, CA, Stateline, NV
Bakery Favorites Entice and Delight at SugarPine Bakery in South Lake Tahoe
Can anything smell better than freshly baked bread? A few things may come close (fresh-brewed coffee in the morning, maybe), but we’re pretty stuck on that baked bread smell.
A great local place to get that aroma fix (and tastebud delight) is the SugarPine Bakery in South Lake Tahoe.
SugarPine Bakery is the brainchild of locals Katie Schultz & Matt Hogan, a husband & wife team of bakers hoping to fill the void (and tummies) in South Lake Tahoe.
SugarPine offers fresh artisan breads, croissants, delectable pastries, tarts, cupcakes and seasonal delights baked daily. All your bakery favorites are here: cookies, macaroons, fruit tarts, French baguettes and sourdough along with SugarPine specialties such as Rye with Currants, Cinnamon Raisin Loaves, Almond Pear Tarts, baguette sandwiches and bread pudding just to name a few.
Specialty wedding, birthday and holiday cakes are a new local tradition and are available by special order.
Give yourself a treat – stop by the SugarPine Bakery and indulge! Oh, let’s not forget….with Thanksgiving just around the corner, they’re offering a great selection of pies, tortes, cakes, and breads, perfect additions to your holiday meal.
SugarPine Bakery
Location: 3564 G Lake Tahoe Blvd. at Highway 50 & Herbert Ave.
Hours of Operation: Tues-Sat 8 am- 6pm/ Sundays 8am- 4pm, closed Mondays
Telephone: (530) 542-7000
Sources: Rhonda at Katie's Cakes / Our own personal taste experiences !
Some Previous Business Spotlights:
August 14, 2010 Sprouts Natural Foods Cafe, here
August 9, 2010 Jarvis Photography, here
July 20, 2010 Tahoe Best Friends, here
July 18, 2010 Black Bear Inn, here
July 11, 2010 Lake Tahoe Historical Society & Museum, here
| Discussion: Please leave a comment.
South Lake Tahoe, CA 2010 Home Sales: Foreclosures and Short Sales by Month
November 18th, 2010 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA
A detailed look at the frequency of distressed property, foreclosures and short sales in South Lake Tahoe, CA in 2010.
This is a study in consistency more than anything else. The fact of the matter is the rate of South Lake Tahoe, CA distressed property sales has not varied by more than 13 sales in any given month throughout the year.
The least number of distressed home sales in any given month was in July (15 distressed sales). The most was in June (28 distressed sales).
The average number of distressed property sales in South Lake Tahoe, CA throughout 2010 to date is 20 home sales per month.
The monthly average for all 2010 South Lake Tahoe, CA home sales is 44. In other words some 20 out of every 44 South Lake Tahoe 2010 home sales, or almost one out of every two, is a distressed property.
Looking at distressed property sales per quarter, there were less foreclosure sales in Q3 than in Q2 or Q1. Quarterly sales varied by no more than 3 sales.
By quarter, here are the details:
- Q1. Total distressed homes sold: 61, a monthly average of 20.3
- Q2. Total distressed homes sold: 66, a monthly average of 22.
- Q3. Total distressed homes sold: 57, a monthly average of 19.
- Q4. Total distressed homes sold: 27, a monthly average as of Oct 31, 2010 of 16.
What it means :
There is no evidence of increase in distressed home sales at any particular point throughout all of 2010 to date. This supports some of our previous studies on the incidence of foreclosure activity… that we are seeing no increases of a "foreclosure deluge" to appear in South Lake Tahoe yet.
The chart below is the source of the information in this post. Click here to see this chart in full size.
Previous posts of interest:
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?
November 24, 2008: Sometimes South Lake Tahoe and National Real Estate Trends just don't Jive
| Discussion: Please leave a comment.
What People are Buying: South Lake Tahoe 2010 Home Sales per Month
November 16th, 2010 categories: Buyers Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA
More Home Demand than last year, and Increasingly Home Buyers are Buying at a Lower Price Point.
Our article below this one talks about South Lake Tahoe, CA real estate demand by month over the last five years. It also addresses the real estate market appetite for distressed sales over the last three years and the median sold price for 2010, and for market performance over the last 180-days.
Lets take a look now at monthly buying patterns throughout the year. To do that we will focus on each quarter. This will give us insight to what buyers have been buying, and what they are buying now.
The Bottom Line :
Almost one out of every two South Lake Tahoe home buyers is purchasing a home in our market entry price range under $300,000.
Almost one out of every two South Lake Tahoe home buyers has purchased a distressed property this year.
South Lake Tahoe home buyers are purchasing less expensive homes than they were at the first of the year.
They are buying homes in traditional demand patterns, more in the middle of the year than at the beginning or end.
They are buying distressed properties at a lower ratio to non-distressed sales now than they were in the first half of the year.
The size of home folks are buying on average has not varied by more than 120 square feet throughout the year.
The Particulars : (see chart below)
Number Sales Month & Quarter:
The number of homes sold per month, and per quarter follows traditional patterns. With increases in Q2 and Q3, and less home sales in Q1 and Q4, nothing is different than traditional sales pattern averages by quarter since 2003.
The average South Lake Tahoe, CA monthly home sales per quarter, since 2003 and 2010 respectively:
- Q1: 32 sales per month on average since 2003, 35 sales this year.
- Q2: 44 sales per month on average since 2003, 46 sales this year.
- Q3: 52 sales per month on average since 2003 , 52 sales this year.
- Q4: 41 sales per month on average since 2003, 45 sales this year (as of Nov. 12, 2010)
Median Sold Price:
Including the Tahoe Keys, the median sold price of all 2010 home sales to date has decreased in Q3 and Q4 compared to Q1 and Q2.
Not including the Tahoe Keys, the median sold price of all 2010 home sales to date has seen a steady decline by quarter throughout the year.
The South Lake Tahoe, CA median sold price by quarter this year:
- Q1: $327,583 including the Tahoe Keys, $314,833 without.
- Q2: $330,333 including the Tahoe Keys, $297,500 without.
- Q3: $316,667 including the Tahoe Keys, $277,833 without.
- Q4: $292,875 including the Tahoe Keys, $264,125 without. (as of Nov. 12, 2010)
The difference the Tahoe Keys makes to the South Lake Tahoe, CA median sold price (in other words, how much higher the median sold price is with the Tahoe Keys):
- Q1: $12,750 more including the Tahoe Keys (3.9%).
- Q2: $32,833 more including the Tahoe Keys (9.9%).
- Q3: $38,833 more including the Tahoe Keys (12.3%).
- Q4: $28,750 more including the Tahoe Keys (9.8%, as of Nov. 12, 2010)
Foreclosures: Number of Bank Owned Sales (REOs):
The number of foreclosures, or bank owned sales per month has varied throughout the year, with a low of 6 REO sales in July to a high of 17 REO sales in April. Per quarter, however, the average number of REO sales per month has remained steady throughout all of 2010.
The average number of 2010 REO sales per month by quarter:
- Q1: 13 bank owned sales per month.
- Q1: 13.3 bank owned sales per month.
- Q1: 12.7 bank owned sales per month.
- Q1: 10 bank owned sales per month (October results only).
Short Sales:
The number of homes sold per month that were short sales has also varied throughout the year, with a low of 1 short sale in September to a high of 12 short sales in June. Per quarter, the average number of short sales per month has declined in Q3 and Q4 compared to the first two quarters of the year.
The average number of 2010 short sales per month by quarter:
- Q1: 8 short sales per month.
- Q2: 7.7 short sales per month.
- Q3: 5 short sales per month.
- Q4: 4 short sales per month (October results only)
Percentage of Distressed Sales:
The percentage of distressed sales has declined from quarter to quarter throughout the year. In other words, there was a greater incidence of both bank owed and short sales at the beginning of the year than it is now.
The average percentage of distressed sales per quarter:
- Q1: 58.3%
- Q2: 45.3%
- Q3: 38.6%
- Q4: 38.9% (as of Nov. 12, 2010)
Number Sales below $300,000:
The number of homes sold below $300,000 has varied by month throughout the year, from a low of 10 sales under $300,000 in February to a high of 27 sales under $300,000 in September. Per quarter, there was a higher number of sales in this range than at the beginning or the end of the year
The average number of home sales per month under $300,000 per quarter:
- Q1: 18
- Q2: 20.3
- Q3: 22
- Q4: 16.5 (as of Nov. 12, 2010)
Percentage of Sales below $300,000:
The percentage of homes sold below $300,000 compared to all other market sectors has remained somewhat constant throughout the year, with the exception of a possible emerging higher trend in the last 6 weeks.
We believe the $300,000 number to be relevant because it somewhat distinguishes the market entry sector of the South Lake Tahoe real estate market from the mid-market range and higher. What we are looking for this that place where most folks buy.
The percentage of home sales under $300,000 per quarter:
- Q1: 42.9%
- Q2: 44.1%
- Q3: 45%
- Q4: 53.3% (as of Nov. 12, 2010)
Average Size:
The average size of homes sold by quarter has not varied by more than 120 square feet throughout the year:
- Q1: 1,784 sq. ft.
- Q2: 1,735 sq. ft.
- Q3: 1,695 sq. ft.
- Q4: 1,664 sq. ft.
Average Age:
The average year built of 2010 South Lake Tahoe homes sold has not varied by more than 4 years per quarter throughout the year. The average year built per quarter:
- Q1: 1981
- Q2: 1977
- Q3: 1980
- Q4: 1977
The chart below is the source of most of the research and conclusions herein. To see it if full size, click here.
Previous posts of interest:
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?
November 24, 2008: Sometimes South Lake Tahoe and National Real Estate Trends just don't Jive
Why we publish this blog:
We support our families by helping folks buy and sell real estate. The goal here is twofold: to show you convincingly why you should consider asking us for help, and that you can trust the help you will find.
Email us directly here. Call us: 800-923-9022.
Search South Lake Tahoe, CA listings here. Search Stateline, NV listings here. Automatic Listing notification here.
| Discussion: Please leave a comment.
South Lake Tahoe, CA 2010 Homes for Sale: Where we are Now!
November 15th, 2010 categories: Lake Tahoe Real Estate, Major Market Reports, Sales Reports
On target with South Lake Tahoe, CA 2010 home sales to date.
This CNNMoney.com article from last Thursday (Nov. 11) was particularly annoying, not because of the information in it, but because it's a rehash of ground already covered. It pertains to US homes sold in the 3rd quarter of this year. We reported on this in detail here… on October 2nd.
The news media though lies prone and defenseless to the sensational headline, even if it's an old one. In this case, the instigator is a National Association of Realtors (NAR) report… that appeared 6 weeks after the quarter ended. The headline reads "Home Sales Fall 25%."
This mythic "25%" drop compares the total number of US homes sold in Q3 this year to Q2. Well, here in South Lake Tahoe, CA there was an increase in the number of sales from Q3 over Q2 (3%). There was also an increase from Q2 over Q1 (32.7%). So much for the sensational headline as it relates to South Lake Tahoe, CA home sales. The headline here would have read "rise" rather than "fall."
Lets see where we are year to date here in South Lake Tahoe: (charts below in support of the information herein)
A thoroughly detailed look at 2010 South Lake Tahoe home sales by month here.
Number Home Sales : (single family homes only, including the Tahoe Keys)
- 2010 homes sold: 447 (as of Nov. 11)
- 2009: 436
- 2008: 354
- 2007: 373
- 2006: 438
in other words, there will be more South Lake Tahoe, CA homes sold this year than in any other year since 2005.
Number Distressed Sales : (single family homes, including the Tahoe Keys, bank owned or short sales only)
- 2010 homes sold: 200, or 44.7% of total homes sold (as of Nov. 11)
- 2009: 175, or 40.1% of total homes sold.
- 2008: 89, or 20% of total homes sold.
To date, there is an increase of 4.6% in the number of distressed properties sold this year compared to last. This is an increase of 24.7% compared to 2008.
Median Sold Price :
All homes sold in 2010 to date:
- Including Tahoe Keys: $319,000
- Not including Tahoe Keys: $299,000
The difference is $20,000 (6.26%). In other words, if one is not purchasing, or considering, a home in the Tahoe Keys, I would consider the lower of these two numbers as a more responsible indicator of the current median sold price.
All homes sold in the last 180-days:
Including the Tahoe Keys: $312,500
Not including the Tahoe Keys: $289,000
With the exception of last July, the median sold price has been trending downward since last April.
The chart below indicates South Lake Tahoe home sales per month since 2003.
This is the median sold price in South Lake Tahoe, CA since April, 2007.
Previous posts of interest:
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?
November 24, 2008: Sometimes South Lake Tahoe and National Real Estate Trends just don't Jive
| Discussion: Please leave a comment.
World Series of Poker… South Lake Tahoe
November 14th, 2010 categories: Lake Tahoe Real Estate, South Lake Tahoe Businesses, South Lake Tahoe Events, South Lake Tahoe, CA, Stateline, NV, Video Seminar Series
The Annual World Series of Poker Circuit Event at Harvey's in South Lake Tahoe.
We haven't attended one of these here in South Lake Tahoe before, but friends of ours from Texas, who we sold a house to some years back, is playing in it, and we thought it would be fun to catch some of the World Series of Poker circuit event yesterday.
This WSOP event is held at Harvey's Resort & Casino every year, and it was fascinating to watch. The image above is of the final table at one of the day tournaments leading up to the main event next weekend. The winner at this table won $25,000. Ten players were on it, and 10th place earned a bit more than $2,000.
Here's a short video of it, but we didn't know one can not shoot video at a WSOP event. A gentleman politely told us, and what was cool was he really was exceptionally polite.
The entry-fee was about $350 and some 419 hopefuls entered this particular tournament. Two other tournaments were being played at the same time.
There weren't any of the poker superstars here yet, but some are coming as the event nears it's climax next week, but the crowd, a quiet courteous one, was interesting to say the least.
Big time poker draws a cross section of our populace. There's lots of young, fearless players: Poker Turks lets call them, and they are easily recognizable with hats backwards, baggy clothing, back-packs and the ever present iPod earphones. Mixed in are middle ages, more than just the occasional woman, and lots of poker grizzlies in telltale beards and western attire too.
It's us folks, Americans trying their best in a capricious game of skill and chance.
Posts on some other South Lake Tahoe events:
08/15/2010, Hula Hoops, Bluegrass, or Splash?, here
08/13/2010, Lake In The Sky Air Show, here
07/19/2010, Elton John Concert, here
06/27/2010, Ranger Programs at Taylor Creek, here
06/18/2010, Lake Tahoe Paddle Festival, here
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