April 2008 Statistics for South Lake Tahoe Real Estate
Monday, May 19th, 2008Sorry 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 |
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