South Lake Tahoe Real Estate Update

– Existing, single-family home sales totaled 437,890 in July on a seasonally adjusted annualized rate, up 28.8 percent from June and up 6.4 percent from July 2019. 

– July’s statewide median home price was $666,320 up 6.4 percent from June and up 9.6 percent from July 2019.

– Year-to-date statewide home sales were down 10 percent in July.

LOS ANGELES (Aug. 17) – California’s housing market continued to recover as home sales climbed to their highest level in more than two and a half years in July, while setting another record-high median home price, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 437,890 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2020 if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.July’s sales total climbed above the 400,000 level for the first time since February 2020, before the COVID-19 crisis depressed the housing market, and was the highest level in more than two and a half years. July sales rose 28.8 percent from 339,910 in June and were up 6.4 percent from a year ago, when 411,630 homes were sold on an annualized basis. July marked the first time in five months that home sales posted an annual gain. Click here to read more.