Happy New Year to our Readers!
We are looking forward to an improvement in the South Lake Tahoe Real Estate Market in 2011. In order to set the benchmark for 2011, I would like to review 2010 in it's entirety.
I will cover a few of the important metrics in this newsletter. You will be able to click any graph to view larger.
South Lake Tahoe Single Family Homes: Total Sold- (The first three graphs exclude Tahoe Keys to minimize skewing)
- As you can see throughout 2009 & 2010 "homes sold" is trending in the positive direction.
South Lake Tahoe Single Family Homes: Sold 2009 VS 2010
- Here are the hard numbers: 403 single family homes sold in 2009, 452 single family homes sold in 2010. This represents a 12% increase over 2009.
South Lake Tahoe Single Family Homes - Distressed Sales
- In this graph you can see that the bank owned homes that were sold decreased slightly from 2009 to 2010. The Short Sale Homes that were sold increased quite dramatically from 2009 to 2010. However, if you combine the distressed sales, the total distressed homes sold increased by a total of 22%.
Tahoe Keys- Total Units Sold
- Here the Tahoe Keys neighborhood shows 34 sales in 2009 and 54 sales in 2010, this represents a 59% increase in homes sold.
Tahoe Keys- Distressed Sales
- This graph shows that bank owned homes sold in Tahoe Keys decreased slightly from 2009 to 2010. The short sale homes sold in Tahoe Keys decreased by more than half from 2009 to 2010. Total distressed sales decreased by 37%!
South Lake Tahoe, CA Condo's: Total Sold
- Total condo's sold in South Lake Tahoe, CA went from 32 in 2009 to 55 in 2010. That is a 72% increase in one year!
South Lake Tahoe CA Condo's- Distressed Sales
- Here bank owned condos show a small increase in sales, and short sale condos show a significant increase in sales. Therefore, total distressed sales of Condo's in South Lake Tahoe, CA have increased 80% in the last year.
In summary, the total of sales has increased from 2009 to 2010 which is a positive trend. However, a good portion of these homes are distressed sales, in some cases 50% of homes sold were distressed. Until we stop seeing so many distressed sales on the real estate market we still have recovering to do.
These slides were pulled from the Complete Market Analysis created by Larry Sabo of Paradise Real Estate. If you are interested in the Complete Market Analysis for South Lake Tahoe, CA you can view it on our website.
With this information I hope you will be able to make good real estate investments in 2011.
Broker/Owner of Paradise Real Estate