South Lake Tahoe Real Estate Statistic Report for September 2011
This report is a look at the single family home sale activities for South Lake Tahoe. For the second month in a row we've had an increase in units sold and total dollar value sold. The median price dropped from the previous month due to a large increase of homes sold under $199,999 which is up 21 units from 6 units in August.
My forecast for October shows that we should be holding steady in real estate activities like September closing.
September 2011 South Lake Tahoe Real Estate Statistics:
This is a comparison chart of the South Lake Tahoe real estate activities for September, August and July.
|Total Dollar Value Sold||$17,333,680||$14,085,880||$12,673,200|
|Percentage From Last Month's Median||-30%||36.84%||-16.66%|
|Average Price Per Square Feet||$175||$192||$182|
|Average Days On Market||137||139||133|
|Distressed Home Sales:|
|REO's (bank owned/foreclosed homes)||17||11||15|
Sold Price Survey:
This chart shows us the activities of the price range buyers are buying in.
South Lake Tahoe Real Estate Activity Forecast:
I always like to see what the current Pending activities and Active activities look like to get a better feel of the market. As you can see my chart is ever evolving from August. I've also broke down the REO and Short Sale activities for you, so you have a better picture of that market.
If you look below at the amount of units and total dollar pre-closing value that was pending for September and August, it's in line with the sale statistics (see my first chart). Now take a look at my forecast that I did on 10/3/2011, the October closing statistics should look similar to our September closing statistics. Our South Lake Tahoe market could be stabilizing. This is encouraging. Only time will tell, but so far so good.
|Date forecast was performed:||10/3/2011||9/18/2011||8/3/2011|
|(Total Dollar pre-closing value)||$44,258,829||$42,133,779||$31,755,226|
|(REO pre-closing value)||$5,313,690|
|(Short Sale pre-closing value)||$11,639,389||$11,751,179|
If you are interested in buying real estate in South Lake Tahoe, please give us a call today for all your Lake Tahoe real estate needs. Thanks.