As I monitor the inventory and the sales stats for our little town, the decreasing levels in inventory of single family homes make things very difficult for buyers. Here are the numbers:
Active Listings: 115 Today – Single Family Residences, City County
Sold Listings: 23 (Sold between Jan 1 and today), of that number 2 are REO and 2 are Short Sales.
Pending Listings: 73, of that number 12 are REO and 20 are Short Sales.
To save you the effort of looking back through my archives of blog posts, in November 2011 the inventory was 291, in December 2012, yes that’s last December, the inventory was 150. I have been helping people buy and sell real estate in South Lake Tahoe for 25 years and the inventory has hovered at an average of 300-350 single family homes. There is speculation that banks are holding back the large inventory of homes that have been foreclosed on while the low inventory and low interest rates help the price to rebound a bit. Speaking for myself, I wish they would let a few more dribble onto the market.