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 the South Lake Tahoe, CA median sold price!

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.

South Lake Tahoe, CA home sales by month since 2003.

This is the median sold price in South Lake Tahoe, CA since April, 2007.

South Lake Tahoe, CA median sold price 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

This entry was posted on Monday, November 15th, 2010 at 3:00 pm and is filed under Lake Tahoe Real Estate, Major Market Reports, Sales Reports. 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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