- Image via Wikipedia
The last 30 days have produced an increase in volume of sales for the South Lake Tahoe Area. Typically we close 30 escrows a month and have done so for the past year. This summer, however those numbers have increased to 129 homes sold in the past month. The summer inventory is generally higher and this year was no exception. The increase in home sales may be due to the record low interest rates.
Sold Single Family Homes (past 30 days)
Bank Owned 33 – 25% Short Sales 25 – 19%
Currently In Escrow
Bank Owned 16 – 17.8% Short Sales 34 – 37.8%
I don’t think we are at the bottom of the market yet, but if there is a thought of home ownership on your horizon, you may want to use my website to monitor the market. Just create a portfolio for yourself in the Client Portfolio tab of TrishHall.com If you have the desire and wherewithall to purchase the “right” home it could be a good time with increased inventory and low interest rates.