Tahoe Real Estate Market Summary - Sasha Spiegel

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee MLS

Single Family Homes and Condominiums

Week of:? August 27^th?to September 2^nd

Active Inventory Summary:

Active Listings:?The inventory for residential properties went down 3% from the previous week to 998 residential properties for sale; 758 single family homes and 240 condominiums for sale.? The inventory has been going down over the past few weeks as the sales activity has increased.? Coldwell Banker has almost 15% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings:? Of the active listings, there are 100 properties listed as short sales, (10.1%) and 17 properties listed as REO sales, (1.7%).? The total percentage of distressed properties listed for sale, (11.8%) is vastly different than the percentage of distressed properties sold on a year to date basis which is 32%.

Months of Inventory:? Based on the current inventory and sales for the previous 30-day period, the market has a little over?6-months of inventory?available.

Sales Summary:? Year-To-Date

Total Sales 2012 Vs 2011:

Total Sales:? For 2012, there have been 857 residential properties sold in the market as compared to 735 for the same period in 2011 which is a year over year increase in sales of over 17%.? Of the total sales in the market this year, 685 have been single family homes, while 172 or 20% of the sales are condominiums.? I n 2011 for the same period, condominiums represented 29% of the sales which is significantly higher than what we are experiencing in 2012.

REO & Short Sales:? Of the properties sold this year, 141 have been REO?s, (16.5%), and 133 have been Short Sales, (15.5%) which results in?32% of the properties sold being distressed properties.? In 2011 for the same period, there were 147 REO sales and 113 short sales or just over 35% of the total sales.

Sales by Price Range:? For the year, there have been 554 residential properties sold priced below $500,000, 228 properties sold between $500,000 and $1,000,000 and 70 properties sold over $1,000,000.

Median and Average Sales Prices:??The median sales price for properties sold year to date is $390,000 while the average sales price is $545,152. For the same period in 2011, the median sales price was $397,700 and the average sales price was $535,211 which is a?(1.9%) decline in median sales price and a 1.9% increase in the average sales price?from 2011 to 2012.

Last Week?s Sales:? For the week of August 27^th, a total of 41 properties sold which was up 57% from the prior week?s sales of 26 properties.? Of the properties sold last week, ten (10) properties sold at a price above $750,000 and 5 of those properties were above $1.0 million.

Pending Sales:??Currently there are 219 pending residential sales in the market which is down slightly from the previous week.? Currently 16% of the pending sales are distressed properties with 17 being short sales and 18 being REO?s.

Source: http://www.lakehomestahoe.com/tahoe-real-estate-market-summary/

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