South Lake Tahoe Real Estate Market Update, May 9 - 15th
Mother’s Day week typically is (and was) a slow week for the local real estate market, so we felt it was a great time to take a quick vacation. Now, one wonders why one would leave Tahoe for a vacation but we can tell you that as great as it is to get away, it is always a delight to come home. And speaking of home, how did the real estate market fare during the past week? Let’s take a look.
Within the city limits, there were 11 new (or back on the market) listings within the single family and condo categories. Of these 11, the low end of the range is a 2 bedroom home in the Sierra Tract area asking $269,000. The top of the range is a 4 bedroom, 3 bath home with boat dock in the Tahoe Keys. This home is asking $1,495,000.
4 lucky sellers found themselves in escrow. All 4 of these homes were listed under $500,000, ranging from a bank-owned Heavenly home at $294,500 to a 5 bedroom Sierra Tract home for $419,000.
As we saw an increase in escrows about 6 weeks ago, we are now seeing those homes closing escrow. Within the city, there were 8 closed sales. The lower end of the range was a 2 bedroom, 1 bath home in the Sierra Tract for $260,000 to a high of $895,000 for the first Tahoe Keys sale so far this year. This home features 3 bedrooms and 2.5 baths.
The activity in the county area was a bit slower. There were 5 new/back on the market listings ranging from a low of $323,000 for a 2 bedroom home in the North Upper Truckee area to $565,000 for a 3 bedroom home in the Meyers area.
As far as new escrows, the county was just as active as the city with a total of 5. These sales ranged from $315,000 for a 2 bedroom, 1 bath home in the Christmas Valley area to $789,000 for a beautiful, newer home in the Country Club Estates neighborhood.
The county area witnessed 4 closed sales ranging from $315,000 for a 3 bedroom, 2 bath home in the Meyers neighborhood to $848,000 for a stunning Tuscan style home in the Pioneer Trail neighborhood.
This week’s “Home of the Week” is 1784 Meadow Vale. Rarely will you find a home with the quality, architectural design and extras that this home includes. Click here to take tour of this custom home.