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Tahoe Real Estate

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By Sasha Spiegel - Click Here! | Agent in Tahoe City, CA

Year to Date Sales Summary Through June 9, 2013

027Total Sales:  For 2013, there have been 539 residential properties sold in the market which slightly higher than the 506 properties sold in 2012 for the same period.  Of the total sales in the market this year, 422 have been single family homes, while 117 or 22% of the sales are condominiums.  In 2012 for the same period, condominiums represented almost 25% of the sales.

REO & Short Sales:  Distressed property sales are down significantly for the year with 35 REO sales, (6%), and 69 Short Sales, (13%) which results in 19% of the properties sold being distressed properties.  In 2012 for the same period, there were 97 REO sales and 95 short sales or 38% of the total sales being distressed properties.

Sales by Price Range:  In 2013, there have been 316 residential properties sold priced below $500,000, 142 properties sold between $500,000 and $1,000,000 and 66 properties sold over $1,000,000.

Median and Average Sales Prices:  The median sales price for properties sold year to date is $437,000 while the average sales price is $664,116. For the same period in 2012, the median sales price was $380,000 and the average sales price was $534,681 which is an increase of 15% in median sales price and an increase of 24% in average sales price.

Last Week’s Sales:  For the week of June 3rd a total of 16 properties sold which was down significantly from the prior week’s sales of 24 properties.  Of the properties sold last week only 1 property sold at a price above $1,000,000.

Pending Sales:  Currently there are 243 pending residential sales in the market which is up 4% from the previous week’s pending sales.  Of the pending properties, 21% are distressed properties with 41 being short sales and 12 being REO’s

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