Tracking the South Lake Tahoe, CA Median Sold Price… since 2007.
(Lake Tahoe Real Estate Blog / February 11, 2012 / Richard Bolen)
We track South Lake Tahoe, CA home values by the median sold price. We've been doing this since 2001, in print via our newsletters from 2001 to 2006, and online since we started this blog in February 2007.
Since then we've been tracking the South Lake Tahoe, CA median sold price in the chart found below. Our first entry unto it was April, 2007. We thought it worthwhile to review it… on this 5th anniversary of The Lake Tahoe Real Estate Blog.
There is another chart below as well, and that one looks at South Lake Tahoe, Ca median sold prices by year since year 2000.
Usually we look at the South Lake Tahoe, CA median sold price at 180-days, but we also look at it at 365-day, 90-day and 30-day increments as well.
We also look this home value trend number with a key South Lake Tahoe neighborhood, the Tahoe Keys, not included. We do this because this neighborhood is singularly unique to every other Lake Tahoe area, and the Tahoe Keys normally adds a rather lofty lift to South Lake Tahoe home values that should be looked at separately from any other neighborhood, and from all others combined as well.
Five years ago the Tahoe Keys added between 2% – 5% to the overall South Lake Tahoe, CA median sold price. For all of 2011, that upward contribution was 9.4%, or $25,000.
The South Lake Tahoe, CA Median Sold Price Then :
In April, 2007:
The South Lake Tahoe, CA Median Sold Price Now :
February, 2012:
What it Means :
The chart below are South Lake Tahoe median sold prices since April 2007.

The chart below are South Lake Tahoe, CA home values by year since year 2000.

Some previous Lake Tahoe Real Estate Blog Posts:
Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days
Houses are bigger and big time less costly in South Lake Tahoe, CA these days.
(Lake Tahoe Real Estate Blog / February 10, 2010 / Richard Bolen)
Home buyers these days are looking for two essential things: a great deal, and comfort that they are not paying too much.
Today the median sold price of the South Lake Tahoe, CA home is $225,000. This is based on all single family home sales in the last 180-days with the Tahoe Keys not included. If the Tahoe Keys is included, the median sold price is $235,000.
In the last 365-days 541 single family homes have sold. Of these, 278, or 51.3% were distressed properties (bank owned or short sales).
Characteristics of the Median Sold House :
Think of the characteristics of a house as those essential elements that you find of the most interest. It is these characteristics, when looked at over time, that define whether a house is a good deal or not.
At the same time, these characteristics, when viewed comparatively, indicate whether you are paying too much or not.
Lets look at four key house characteristics, all within the price-range of $200,000 – $249,999, which covers today's median sold South Lake Tahoe house:
Age :
Today's median house is essentially the same age as it was last year, or five years ago. This is due to South Lake Tahoe basin environmental growth control restrictions. There are new houses that are built and sold here for sure, but average year built has not varied by more than 5 years for the last decade.
Size :
Today's median house is 113% bigger than it was in 2005. It is 48 sq ft larger than it was in 2010, and 227 sq ft bigger than it was in 2009.
In other words, today's median South Lake Tahoe house is 714 sq ft bigger than it was at our market high back in 2005.
This is a much better deal for home buyers.
Cost :
Today's median house costs 57% less per square foot than it did in 2005. It costs $14 per sq ft less than it did in 2010, and $45 sq ft less than it did in 2009.
The 57% less per square foot savings today's buyer saves in purchasing a house in this price range is a $225 per square foot better deal.
Demand :
There were only 5 homes sold in this price range in 2006 and 2007; only 6 sold in 2005. This is not because of lack of demand; there were simply that few homes on the market. All were for the most part listed, and sold for much higher.
There were 17 more sales of homes in this price range in 2011 then there were in 2010.
In the last 365-days, 92 homes have sold in this price-range. For a seller this means that 92 homeowners have sold successfully.
For a buyer this means that 92 home buyers have found the deal they are looking for in this price range in the last year. THIS MEANS YOU CAN TOO.
Our last post about South Lake Tahoe median sold house characteristics:
Oct 19, 2011: The South Lake Tahoe House Now and Then
Some of our videos that you may enjoy:
Jul 5, 2011: Awesome Fireworks Finale: South Lake Tahoe, July 4, 2011
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video
More Distressed Sales and a few more High End sales above $5M characterize Stateline, NV 2011 real estate market.
(Lake Tahoe Real Estate Blog / January 12, 2012 / Richard Bolen)
This is the 2011 bottom line for the Nevada side of our South Lake Tahoe real estate market: demand was down slightly; median home values were about the same as last year; the percentage of distressed properties was higher, and luxury home sales over $1M were about the same in number, but notably higher above $5M.
The chart below is the source material for this report. Now for the details:
Number Homes Sold :
Slightly fewer homes sold in Stateline, NV in 2011 than in 2010.
The difference: Five fewer single family homes sold in 2011 than last year.
Median Sold Price : (home values)
The 2011 Stateline, NV median sold price was little changed in 2011 compared to 2010.
The difference: From 2010 to 2011, with Glenbrook and Lakefront Properties included, the Stateline, NV median sold price increased by $5,000, or only .8% (point-eight).
From 2010 to 2011, with Glenbrook and Lakefront Properties not included, the Stateline, NV median sold price increased by $10,250, or by only 1.9%.
In 2011 luxury homes in Glenbrook and Lakefront Properties added $48,850 (7.8%) to the Stateline, NV median sold price. In 2010 that same contribution was $50,100, or 8.8%.
Distressed Sales : (bank owned properties and short sales)
The percentage, or incidence of Stateline, NV distressed properties sold was 9.4% higher in 2011 than it was in 2010.
The difference: There were twice as many bank owned sales (REOs) in Stateline, NV in 2011 than there were in 2010. Overall there were 7 more distressed sales in 2011 than in 2010, which amounted to a difference in 7 more overall.
Observations on Listing Price :
The average original list price was higher in 2011 than in 2010, which to a degree had to do with more high-end luxury homes to hit the market this year that were priced above $5M than in 2010 (6 v. 2). The percent homes were reduced off of their original list price in order to get sold was essentially the same in 2011 as it was in 2010, however.
The difference: The average list price was $362,650 higher in 2011 than it was in 2010. That same numerical difference was $282,986 in 2010.
The difference: Well, there really was none (less than 1%).
Observations on Luxury Home Sales :
There was essentially no difference in the number of Stateline, NV luxury home sales at $1M or more in 2011 compared to 2010. There were three times as many homes that sold at $5M or more this year than last, however.
The difference: There were 2 more luxury home sales in 2010 than in 2011, but there were 4 more ultra high-end sales in 2011 than in 2010.
The chart below is the source for this report:

Some previous Lake Tahoe Real Estate Blog posts about the NV side of the South Lake Taheo real estate market:
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days
Demand Up, Prices Down, Distressed Property Sales about the Same.
(Lake Tahoe Real Estate Blog / January 4, 2012 / Richard Bolen)
This is the 2011 bottom line for our South Lake Tahoe, CA housing market: demand was up by 6.7%; home values were down by 19.7%; the percentage of distressed properties sold was about the same, and the percentage of properties sold under $300,000 increased by 17.7%.
The charts below are the source materials for this report. Now for the details:
Number Homes Sold :
More homes sold in South Lake Tahoe in 2011 than in 2010.
The difference: 34 homes sold, or an increase of 6.7% in 2011 South Lake Tahoe, CA housing demand.
Median Sold Price :
South Lake Tahoe, CA median home values declined in 2011 by 19.7% compared to 2010.
The difference:
From 2010 to 2011 (w Tahoe Keys): median sold price decline of $54,000, or 16.9%.
With the Tahoe Keys not included: a decline of $59,000, or 19.7%.
The difference in the effect of Tahoe Keys homes on the South Lake Tahoe, CA median home values was 9.4% in 2011 compared to 6.3% in 2010.
Distressed Sales :
The percentage of South Lake Tahoe, CA distressed properties sold (bank owned and short sales) was similar in 2011 to that of 2010.
The difference: an increase of 2.7% in the percentage of distressed homes sold in South Lake Tahoe, CA in 2011 compared to 2010.
Homes Sold Under $300,000 :
Both the number and percentage of South Lake Tahoe, CA homes sold under $300,000 increased in 2011 compared to 2010.
The difference: 109 more homes sold under $300, 000 in South Lake Tahoe, CA in 2011 compared to 2010 (an increase of 17.7%).
Average Size :
The average size of the South Lake Tahoe, CA house sold in 2011 (not including the Tahoe Keys) decreased slightly compared to 2010.
The difference: a decline in size of only 119 sq ft, or 6.6%.
Average Age :
Because of South Lake Tahoe, CA environmental growth restrictions, which are a benefit to all area homeowners and future buyers, the average age of a house is rather constant. Most homes here were built in the 1970's, many of which have been remodeled, and of course some not.
The difference: 2011 homes sold were on average 2 years older than those of 2010. This less-than-1% difference is likely due to the slight increase in distressed property sales and the larger increase in the number of homes sold below $300,000. This such incidence usually produces sales in smaller and older homes, but here again these changes are minimal in terms of either significance or value.
Luxury Home Sales :
A luxury home in this report about South Lake Tahoe, CA is defined as any home with a value of $1M or more. (Usually there are many more luxury homes sold on the Nevada side of the South Lake Tahoe market.)
The difference: 3 fewer luxury homes sold in 2011 than in 2010 (25% decline).
The chart below is the source for all 2011 South Lake Tahoe, CA home sales in this report. (Full size here)

The chart below is the source for all 2010 South Lake Tahoe, CA home sales in this report. (Full size here)

Previous Lake Tahoe Real Estate Blog posts of interest:
Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

(Lake Tahoe Real Estate Blog / January 5, 2011 / Richard Bolen)
Here's what it says, "The job market is looking a little brighter at the start of the new year." It's via the Associated Press and it's in the first weekly jobs report of 2012.
As we've consistently reported since the onset of the tough economic times that started in late 2005, and got worse by 2008, they key to recovery is the US housing market, and the key to that is our national jobs market.
Here's a few bullet points in today's jobs report:
(Full article here)
Another CNNMoney.com report today on this same information, though, says the unemployment rate could likely rise by a tenth of a point tomorrow, from 8.6% to 8.7%. Some economists are predicting this because the suspect more people will likely be seeking employment because there are more jobs to be had. (here)
Previous Lake Tahoe Real Estate Blog posts you may find resourceful:
Dec 27, 2011: 2011 Year End Economic Indicators
Dec 13, 2011: US Housing Affordability Now at Record High
Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
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