Lake Tahoe Real Estate Blog by The Yee Hedley Group: South Lake Tahoe Real Estate Statistic Report for September 2011

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South Lake Tahoe Real Estate Statistic Report for September 2011

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.

  Sep-11 Aug-11 Jul-11
Units Sold 58 41 42
Total Dollar Value Sold $17,333,680 $14,085,880 $12,673,200
Average $298,857 $343,558 $301,743
Median $227,500 $325,000 $237,500
Percentage From Last Month's Median -30% 36.84% -16.66%
High $915,000 $759,900 $900,000
Low $77,000 $80,000 $90,000
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
Short Sale 9 6


Sold Price Survey:

This chart shows us the activities of the price range buyers are buying in.

  Sep-11 Aug-11 Jul-11
Under $199,999 21 6 14
$200,000-399,999 23 20 17
$400,000-599,999 9 12 7
$600,000-799,999 3 3 3
$800,000-999,999 2   1

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
Active 359 393 421
REO 37 43 42
Short Sale 45 37 37
Pending 117 116 93
(Total Dollar pre-closing value) $44,258,829 $42,133,779 $31,755,226
REO 28 24 14
(REO pre-closing value) $5,313,690    
Under $199,000 20    
$200,000-399,000 6    
$400,000-599,000 2    
Short Sale 40 37 36
(Short Sale pre-closing value) $11,639,389 $11,751,179  
Under $199,999 9    
$200,000-399,999 23    
$400,000-699,999 8    

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    Brandon and Grace Yee 

     South Lake Tahoe Real Estate 

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Brandon Yee  CA License #01439964


Comment balloon 0 commentsBrandon & Grace Yee • October 04 2011 12:30PM