Over the weekend we had 28 new listings come onto the market comprising of 2 land listings, 7 condos, 1 shared ownership listing and 18 single family homes. Prices are ranging from $94,900 for a bank-owned one bedroom condo in upper Kings Beach to $4,750,000 for a 3 bedroom lake front home on the west shore of Lake Tahoe. There were 13 properties going into contract over the weekend as standard contracts, and 5 accepted contracts for short sales awaiting bank approval. The 13 new purchase contracts were comprised of 11 single family homes, 1 lot and 1 condo.

Of the 72 new listings in the past week, 5 are bank owned, and 5 are short sales. There were 11 short sale properties with accepted contracts awaiting bank approval in the past week and of 34 new escrows in the past week, 8 were bank owned. In the week’s closed escrows, 5 of the 34 sold properties were bank owned. Single family homes made up half of the sales, with 17 of 34 closed escrows. There were 18 sales in the Lake Tahoe Basin, 14 in the Truckee area and 2 north of Truckee. Closed escrows ranged from $18,000 for a shared ownership in Old Greenwood, to $1,900,000 for a 4 bedroom lake front home on the west shore of Lake Tahoe. While selling prices have been averaging right about 94% to 95% of list price for the year, this past week the average dipped to 90% of list price.

The market continues to be active right now with historically low mortgage rates and value pricing with most listings; Contact me today to discuss how you can take advantage of the current market.
View all area listings HERE.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com