Still, industry experts say the market activity isn’t showing signs of stopping anytime soon.
“For this upcoming spring buying season, this year will be notably higher than last year with maybe even up to 40% or 50% more home sales this year versus last year,” says Lawrence Yun, chief economist for the National Association of REALTORS®…Read Here.
California home sales and prices ease but strong buying interest continues to provide support to the market as sales record eighth straight year-over-year gain, C.A.R. reports
– Existing, single-family home sales totaled 462,720 in February on a seasonally adjusted annualized rate, down 4.5 percent from January and up 9.7 percent from February 2020.
– February’s statewide median home price was $699,000, down 0.1 percent from January and up 20.6 percent from February 2020.
– Year-to-date statewide home sales were up 15.9 percent in February…. Read Here.
Lake Tahoe Fund Fact
There are four prescribed fires planned in the Tahoe Basin this week. Prescribed fires have many benefits to our ecosystem in Tahoe. Among the most important is the ability to safely reduce excess amounts of brush and debris that can lead to a catastrophic wildfire. Returning low intensity fire back onto the landscape also helps to create a healthy forest that is resistant to drought, insects and disease. Thanks to the Tahoe Fire and Fuels Team and Tahoe Living With Fire, an interactive map of prescribed burns is available at tahoelivingwithfire.com.
Weekly South Shore Real Estate Stats
Active Median Home Price- $1,395,000 $693.00/sq ft
Pending Median Home Price- $625,000 $395.00/sq ft
Sold Median Home Price- $820,000 $465.00/sq ft
Absorption rate is 0.725% which is a mathematical way of describing a real-estate market in this case. In other words it will take 0.725% of a month to absorb the homes on the market based on the current sales tracking buyer activity.
This is trending towards an even stronger seller’s market. This as we’ve talked/written about, is based on the lack of sellers willing to move or sell their homes and investment property. However, I believe that we will see this trend changing for good reasons.
Number one, the pandemic’s viral disease is being mitigated with vaccines, giving those that are ready to make changes a comfort zone and launching pad. Secondly, housing life cycles are coming into their next generation of use and lastly prices are ripe for a sell off and rates are attractive for a buyers on the buy side along with the fact that we are just simply ready for change that was spurred on by a pandemic migration.
Old Tahoe cabin on terrific corner lot. This one bedroom 1955 constructed cabin in highly sought after Al Tahoe neighborhood is ready for your creative juices, vision, and construction know-how. Owners are ready to pass this project along as a reconstruction site or major overhaul.
With a little love, this duplex has great income property potential. Centrally located and close to casinos, beaches, shopping, skiing and the only cinema in town. There is a spacious 3 bedroom 2 bathroom unit upstairs and a 2 bedroom 1 bathroom unit with a 1 car garage downstairs. Large driveway that can accommodate numerous cars. Don’t miss out on this unique opportunity! Property to be sold “as-is”.
Here is your chance to own a unique home in the county area of South Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home has been updated thru the years with Tahoe keepsakes and individuality. Upgrades include: upgraded upstairs bathroom, upgraded kitchen, 40 year roof installed in 2008, upgraded electrical, newer water heater, furnace and siding, newer sheetrock and fully insulated walls. The mudroom has a new exterior door and etched windows that were salvaged from the old Stetson steak house in the Horizon. Located in Meyers you have the added bonus of being zoned for livestock so this backyard is not only a mecca for fun but it also has a large chicken coop and a beautiful, mature garden, large shed and yard hydrant. So much is bundled into this package that it all cannot be listed here. This property is also outside the city limits so it can be a short term rental if that is your desire. Call for more details.
Your sunny, private county home awaits! This home is located in one of the best neighborhoods in South Lake Tahoe. It’s county location gives you the option to make it a Vacation Home Rental yet it’s still close enough to town to be a short drive away from everything the South Shore has to offer! This 3 bed, 2 bath home has conservancy lots in the back and right sides to give you private forested views. Upstairs boasts an open kitchen and living room along with a master suite. Downstairs is a second living area along with 2 additional bedrooms for your guests to stay. The large backyard is fully fenced and landscaped with a lovely stone patio. Recent updates include all new hardwood floors as well as interior and exterior paint. This well maintained home is a must see!