2020 – 1st Quarter Real Estate Update

REAL ESTATE UPDATE LAKE TAHOE

Chase International just released their local statistics for the 1st quarter at South Lake Tahoe.  I must say some of the numbers are weaker than I thought they would be.  Keep in mind while the coronavirus picked up steam in March, most of March sales volume occurred from business written in January and February.  Nonetheless we had a strong first quarter for condo sales increasing a whopping 93% from this time last year to $13,571,000.  Note that condo sales increased by 11% on the Nevada East Shore.  However single family sales volume declined 14% to $54,321,000 at South Lake while Nevada declined 29%.  The median sales price for condos rose by 11% to $352,000 while single family homes declined 20% to $444,000.  Not sure what’s up with the condo market but that’s where the action is right now.

I’m sure you heard about the Nevada Governor Directive where open house showings, and in-person showings of single family and multi-family residences currently occupied by renters of real estate on the market for sale, are hereby prohibited for the duration this Directive is in effect.  However you can transfer ownership, as long as you do not need to view the property interior, inspectors do not need to go inside, appraisals are done from the exterior or the buyer waives his rights.  The new owner still has to honor the current lease and also cannot evict until this Directive is over.

I can be reached at 775-309-8454 if you need assistance.  My email is RStiles@TahoeSouthRealty.com. Be safe everyone!

March 2020 NV East Shore Update

REAL ESTATE UPDATE LAKE TAHOE

We had 16 residential home/condo sales on the Nevada East Shore during March. A 23% increase from the 13 sales in March of 2019. The median sales price also increased from $900,000 to $1,190,000 for residential home sales yet the average days on market declined from 223 days last year to 142 days. For those curious if any properties were withdrawn from the market there were 16 withdrawn this year as compared to only 7 in March 2019. Agents are finding other ways to show your property at this time. I have been using video for my listings as well as for buyers not wanting to venture inside our current listings. I am also wearing gloves at this time and have noticed owners placing sanitizer near their front doors for everyone’s use. Be safe everyone. Learn more by visiting RealEstateLakeTahoeStiles.com for more information. Call 775-309-8454 to schedule an appointment.

NV East Shore Real Estate Update

REAL ESTATE UPDATE LAKE TAHOE

There were 9 residential home sales on the Nevada East Shore in February as compared to 13 last year. The median sales price hovered around $890,000 – same as last year. The days on market however declined from 201 days in 2019 to 145 in 2020. Five of the sales occurred along the Kingsbury Grade area with 2 at Round Hill, and 1 each at Zephyr Heights and Skyland. There were an additional 5 condo/townhome sales as compared to 6 last year. Nothing changes if nothing changes, they say however if you decide to sell your residence and are looking for an experienced local agent with 25 years of experience, I’d be happy to help. Robert Stiles, REALTOR® NV BS.1001136 CHASE INTERNATIONAL 530-314-0352 / 775-309-8454

Lake Village

Lake Village

Lake Village is a planned unit development of 330 townhouses spread out over 52 acres of forestland at Stateline, Nevada. It was designed and built in the early 1970s with homes ranging from 1 bedroom, 2 bath up to 4 bedroom, 3½ bath.  Two and three bedroom units are the most common. Some even have private outdoor hot tubs.

Both residents and guests have access to the seasonal, heated outdoor swimming pool. There are also four tennis/pickleball courts, a basketball hoop, and a year-round outdoor hot tub. Dry saunas, and a picnic area with propane barbecues are available, as well as nearby hiking and bike trails.

Nevada Beach is an approximate 15-minute walk through the meadow across Highway 50.  Stagecoach and Boulder Lodges at Heavenly are only a seven-mile drive up Kingsbury Grade. These advantages make Lake Village a popular destination in both summer and winter.

All the townhouses are privately owned. Some of Lake Village’s owners live here year round and while some use Lake Village as their second, or vacation home. Many also rent their homes out for long-term or short-term vacation use too. For more information or to schedule a time to view this area contact Robert Stiles, REALTOR® at CHASE INTERNATIONAL 530-314-0352.



Nevada East Shore Year End Real Estate Preview

REAL ESTATE UPDATE LAKE TAHOE

The Nevada East Shore real estate market heated up in 2019.  Thus far we’ve experienced 25% more single family residential sales than during 2018.  The increase in numbers from 106 to 133 units does not include 6 lakefront sales.  The median sales price for the area also increased 13.9% to $900,000.  Days on market to sell a home declined by 15%.  I’m seeing an increase in the number of families wanting to leave California.  Happy Holidays! 

NV East Shore October Update

REAL ESTATE UPDATE LAKE TAHOE

October’s median sales price for single family residences on the NV East Shore was $1,000,000.  Days on market averaged 111.  The lowest priced unit sold was located on Tina Ct for $499,000.  The highest was in the Glenbrook community for $5,450,000.  Most of last month’s sales occurred in the mid Kingsbury and Zephyr Heights communities.  There were a total of 15 sales last month.  This compares to only 10 residential units sold last year at this time with a median sales price of $778,750.