As 2012 comes to a close it's a good time to reflect on the year in Lake Tahoe real estate. It's been a real roller coaster but we've spent the last several months on an exciting uphill climb. 

We started off 2012 with some of the lowest home prices seen in years but the median price has increased each month since July. For buyers interested in owning a home in Lake Tahoe you probably saw the home prices at their bottom this past spring.  

Inventory of foreclosures and short sales on the market are greatly reduced so we're seeing increasing interest for non-distressed homes for sale, and now, even more interest in luxury homes in order for buyers to get the kind of home they desire. 
December figures aren't in yet, but I have evaluated the year's real estate activity to date in this newsletter.

Have a happy and prosperous 2013!

2012 Lake Tahoe, California Real Estate Figures
January                       November
Median Sales Price                                $225,000                      $289,000
Closed Sales                                             43                                  75
Inventory of Homes for Sale                 432                                272
New Listings                                             60                                  48
Month's Supply                                        7.6                                 4.2
Homes Priced
$299,887 and below                                 Sales up 31.8%
$299,888 to $434,999                              Sales up 10.4%
$435,000 to $649,999                              Sales up 5%
$650,000 and above                                 Sales down 3.3%
The higher priced homes are finally seeing increased sales, even though the above figures for the whole year saw a slight decline. Each month since June has seen an increasing number of home sales.  In June and July there were 47 closed sales each, August had 49, September 53, October 54 and 58 in November. 

What I Predict in 2013

I predict 2013 to be a positive real estate year for the Lake Tahoe area. Even with the negative fiscal cliff news I believe we'll see sales on the rise.

Also I am predicting an increase in the median home price in all neighborhoods. The median has been rising continuously for the last 6 months of 2012 and this will continue in 2013. 

                                Dan's Lake Tahoe Favorite 
                           Businesses for the Month of December

My two businesses of the month are both places I use often, Grass Roots and The Cork & More. 

Grass Roots is located on the corner of Highway 50 and Dunlap Drive.  They are open 7 days/week.  See their Yelp Review.

                                       *               *               *             *
The Cork & More is a true South Lake Tahoe treasure. They have been in town for 35 years, supplying everything from coffees and teas, a fabulous wine collection and specialty foods to beautiful gift baskets. They also cater all celebrations, including weddings. 

They remind me of Napa style markets where you can go in and grab everything for a wine tasting picnic.  Many locals and visitors use them for food baskets to take to watch Shakespeare or hear a concert on the beach. Owners Jim and Kim Warlow and their staff are very knowledgeable about wines and can help you with your selection.  

Cork & More is located in the Tahoe Center, across from Ross Department Store and next to the Al Tahoe Post Office.  Their address is 1032 Al Tahoe Blvd.  530-544-5253.

Dan's Preview-Review of Tahoe Homes for Sale
I am continuing to offer the "Dan's Preview Review" service for my clients.  If you find a Tahoe home for sale that you're interested in, contact me and I'll provide a video review with narration...it will be like you're there touring the house yourself! Many buyers are looking for a 2nd home and aren't in town to actually view it themselves. They are finding this service quite helpful in their search of real estate in South Lake Tahoe. 

Thank you, 

dan's sig

Dan Spano, Broker/Owner
CA Lic # 1187931
NV LIc # 26236