South Lake Tahoe - March 14th - 20th, Weekly Market Update
When talking recently with fellow Realtors throughout the Lake Tahoe area, we are pleased to be hearing the same somewhat positive comments. The phones are ringing with increasing inquiries, the number of potential buyers actually touring homes is up and the overall mood is that of cautious optimism. Inspired by this gleam of good news, we came up with an idea to present visual tours for some of our favorite listing on this blog site.
The activity during the past seven days was fairly similar to that of the past couple of weeks. Within the city limits, there were 6 new residences posted as “new/back on the market.” The range saw a low of $150,000 for a studio apartment along Emerald Bay Highway to $599,999 for a three bedroom, 2 bath home with almost 2,500 SF of living space in the Al Tahoe area. Down from the previous week’s 5, this past week saw 3 new pending sales ranging from $269,900 for a Tahoe Keys studio to $449,000 for a three bedroom home backing the meadow in the Bijou area. There were 5 reported sales, up from last week’s 2. The low was $245,000 for a small 2 bedroom cabin in the Sierra Tract to $434,000 for a townhouse in the Tahoe Island area.
During the same period last year, there were 3 reported sales ranging from $330,000 - $677,000.
The County area reported 5 “new/back on the market” listings as compared to last week’s 6. The range started with $479,000 for a three bedroom home in the Tahoe Paradise area to $859,000 for a river front property along the Truckee River in Christmas Valley. The number of new pending sales was 2, half that of last week. These homes were both below $400,000. As within the city limits, the number of closed sales was also higher with 5 ranging from $399,000 for a bank-owned property in the Meyers area to $937,500 for a newer 5 bedroom 4 bath home.
During the same period last year, there were 2 reported sales ranging from $535,000 to $1,150,000.
In regards to vacant land, there were a total of 7 new listings. 2 were within the city limits and the remaining 5 were in the county. These prices range from $99,000 - $200,000. There were no reported pending or closed sales. During this same period last year, there were two closed sales, one in each the city and county.
Click here to view a Visual Tour of the property shown in the snow scene above