April 2008 Statistics for South Lake Tahoe Real Estate

Sorry this is coming late folks!  Achilles tendon surgery, amongst other even bigger things, has kept me tied up in the last couple of weeks.

Here are the latest statistics from the South Tahoe Association of Realtors.  This data is from April 30, 2008.  The median home price in South Lake Tahoe rose 0.7% from last month ($425,000 to $428,000).  The market, however, is still in a decline.  Median home price has dropped over the past year by 8% ($465,150 to $428,000).  The best explanation for the increase in median price from last month has been the increase in foreclosure listings in the higher price bands.  I blogged on this very topic on March 31st in the posting Foreclosures in South Lake Tahoe.  I expect a decline in median home price next month due to this foreclosure-driven, downcycling market.

Median Home Price

Number of Active Listings

Number of Escrows

$428,000

372

44

Number of Listings by Price Range

Price Range

Active Listings

$0 – $250,000

5

$250,001 – $300,000

19

$300,001 – $400,000

66

$400,001 – $500,000

65

$500,001 – $600,000

56

$600,001 – $700,000

37

$700,001 – $800,000

27

$800,001 – $900,000

27

$900,001 – $1,000,000

16

$1,000,001 and up

54

Posted on May 19, 2008 at 6:44 pm
Drew Kondo | Category: Statistics | Tagged , , , ,

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