Nevada East Shore of Lake Tahoe Weekly Real Estate Update

What you are looking at below are charts and numbers derived from the Northern Nevada Regional Multiple Listing Service for Single Family Homes and Condos for the East Shore.  I just started tracking condos with homes as of October 28th, 2009 which will be give different results from previous market reports.  The reason that I use this segment of the market is that it has the most influence on the general value trends

Nevada east shore in Lake Tahoehas seen a spurt this past week.  To measure the most current buyer activity on the market, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week we saw the ratio increase from 14.6% to 16%.  This is the result of the Active inventory decreasing by 3 as the Pending sales increased by 2.  The Active inventory of distress sales is now at 6.6% of the market and the pending distress sales are higher from 62.5% to 76.9%.

This past week there was 1 new sale for a YTD of 20 sales.  It was a condo sale in Lake Village for $300,000.  This decreased the 6 month average sales price by 4.2% to $661,845.  The average days on market are 204 days.