South Tahoe Real Estate Stats for March 2010

                                                                                                                                                                                                                                                                                                                                                                     Sold Stats for March 2010

  •  37 Total Sold Listings in March                  
  •  14 REO (37.8%% of total March sales)
  •   7 Short Sales (18.9% of total March sales
  •   Distressed Properties Comprising 37.8% of total homes sold in March

Active Listings Stats

  • 306 Single Family Properties Currently Listed (Not in Escrow)
  •   19   REO (.063% of total)
  •   35  Short Sales (11.44% of total)
  •  Distressed Properties Comprising 17.65% of Market Total

Pending Listing Stats (Homes in Escrow)

  •  110 Currently in Escrow  
  •    20 REO (18%)
  •    53 Short Sales (48%)
  •   REO & Short Sales Comprising 66.3% of the Total Homes in Escrow

Average Number of Days on Market (DOM) From Listing to Close of Escrow

  •  96 DOM for REO Sales
  • 204 DOM for Short Sales
  • 232 DOM for Non Distressed Properties

These numbers still show that homes that are a better value are selling quickly, as any of you who have attempted to get an offer accepted on any of these well priced homes can attest. 

The Average sales price for March was $407,790 which is up slightly from February, whose average sales price was $401,652.  Does that mean the end is near, I think not with the number of notices of defaults and notices of sales still out there.  What it does means is that there is still plenty of opportunity for people who are in a position to purchase these homes.  With the threat of increasing interest rates, things could heat up in the buying arena.  Stay tuned for more updates.

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