STAR Real Estate Statistics – May 2017
South Tahoe Association of REALTORS® Multiple Listing Service Statistics for May 2017
Each month, the South Tahoe Association of REALTORS® compiles real estate sales and active listing statistics for its members and the public. These reports may be viewed on screen, printed or saved to your computer. Please scroll down and click on the links below to view the following reports:
- Single Family Market Analysis By Area
- Single Family Market Analysis
- Single Family Active Listings
- Condo Market Analysis
- Condo Active Listings
If you have questions or would like further information, please call 530.541.7007 or send an email to STAOR@STAOR.org.
C.A.R. releases its California Housing Market Forecast for 2013
California housing market to continue improvement; lack of inventory to hamper sales
LOS ANGELES (Oct. 2) – California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast,” released today.
The C.A.R. forecast sees sales gaining 1.3 percent next year to reach 530,000 units, up from the projected 2012 sales figure of 523,300 homes sold. Sales in 2012 will be up 5.1 percent from the 497,900 existing, single-family homes sold in 2011.
“The market has improved moderately over the past year, and we expect that to continue into 2013,” said C.A.R. President LeFrancis Arnold. “Sales would be even higher if inventory were less constrained in REO-dominated markets, particularly in the Central Valley and Inland Empire, where there is an extreme shortage of available homes. Sales will be stronger in higher-priced areas, where there are more equity properties and a somewhat greater availability of homes for sale.”
“Housing affordability has never been stronger – with record-low interest rates and favorable home prices, combining to create a once-in-a-generation opportunity to buy a home in California,” said Arnold.
C.A.R.’s forecast projected growth in the U.S. Gross Domestic Product of 2.3 percent in 2013, after a gain of 2 percent in 2012. With job growth of 1.6 percent in California, the state’s unemployment rate should decrease to 9.9 percent in 2013 from 11.7 percent in 2011 and 10.7 percent in 2012.
The average for 30-year fixed mortgage interest rates will edge up to 4 percent after six consecutive years of declines, but will still remain historically low.
The statewide median home price is forecast to increase a moderate 5.7 percent to $335,000 in 2013. Following a decrease in 2011, the California median home price will climb a projected 10.9 percent in 2012 to $317,000.
“The housing market momentum which began earlier this year will continue into 2013,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Pent-up demand from first-time buyers will compete with investors and all-cash offers on lower-priced properties, while multiple offers and aggressive bidding will continue to be the norm in mid- to upper-price range homes.”
“The actions of underwater homeowners will play an important role in housing inventory next year, with rising home prices inducing some to stay put and others to list and move forward,” she said.
“The wildcards for 2013 include federal, monetary and housing policies, state and local government finances, housing supply, and the actions of underwater homeowners – not to mention the strength of the overall economic recovery,” Appleton-Young continued.
2013 CALIFORNIA HOUSING FORECAST
|
|
2008 |
2009 |
2010 |
2011 |
2012f |
2013f |
| SFH Resales (000s) |
441.8 |
546.9 |
492.3 |
497.9 |
523.3 |
530.0 |
| % Change |
27.3% |
23.8% |
-10.0% |
1.1% |
5.1% |
1.3% |
| Median Price ($000s) |
$348.5 |
$275.0 |
$305.0 |
$286.0 |
$317.0 |
$335.0 |
| % Change |
-37.8% |
-21.1% |
10.9% |
-6.2% |
10.9% |
5.7% |
| 30-Yr FRM |
6.0% |
5.1% |
4.7% |
4.5% |
3.8% |
4.0% |
| 1-Yr ARM |
5.2% |
4.7% |
3.5% |
3.0% |
2.8% |
2.8% |
f = forecast
Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
South Tahoe’s Real Estate Market Showing Signs of Improvement
~submitted by Theresa Souers
2012 Public Relations Chair
South Tahoe Association of REALTORS®
You may have been hearing a new message in the media lately – that “now is the time to buy real estate” and that the market is improving. But all real estate is local. Wonder how South Lake Tahoe is doing?
One of the most positive signs that South Shore’s real estate market is on the mend is that our inventory absorption rate – the amount of time it takes for houses available for sale to sell – has decreased significantly. Compared to a year ago, the month’s supply of inventory is down a remarkable 26.4%. Overall, the state’s month’s supply of inventory is down 5.6%.
Our inventory – the number of homes available for sale – is down 20.3% compared to last year. The number of new sales coming on the market has also decreased by 7.4%. With less supply, sellers have a greater chance that their home will sell more quickly to interested buyers.
Our median sales price continues to decline, however, year over year with a drop of 18.9%. This is good news for buyers, though, with the means to get a loan and purchase. South Shore has not been this affordable since 2001 with a median sales price of $236,500 for single family homes. And interest rates remained historically low at just 3.55% for a 30-year fixed mortgage in July.
Historically, South Lake Tahoe’s real estate market has followed the Bay Area’s. With robust activity in San Francisco, and many vacation home buyers coming from that area, signs are positive that South Lake Tahoe’s real estate market will continue to improve.
*Source: Statistical information from the South Tahoe Association of REALTORS® Multiple Listing Service for South Lake Tahoe properties sold within the 96150 zip code for the period of July 2011 through July 2012, as well as the California Association of REALTORS®.
Real Estate Market Statistics for December 2010
South Tahoe Association of REALTORS Multiple Listing Statistics.
These reports may be viewed on screen, printed or saved to your computer. Please scroll down to view the following:
Single Family Market Analysis report for December 2010
December 2010 – South Tahoe Single Family Real Estate Market Analysis
Single Family Active Listings
Single Family Active Listings – December 2010
SingleFamilyActive_December2010
Condo Active Listings report for December 2010
Condo Active Listings – December 2010
Coming soon… embedded report. In the meantime, to access the PDF document, please click on the link above.
Single Family Market Analysis By Area for December 2010
Single Family Market Analysis by Area – December 2010
For questions regarding STAR MLS real estate statistics, please call 530.541.7007 or send an email to STAOR@STAOR.org.
South Tahoe Real Estate Statistics – November 2010
South Tahoe Association of REALTORS Multiple Listing Statistics.
These reports may be viewed on screen, printed or saved to your computer. Please scroll down to view the following:
Single Family Market Analysis report for November 2010 –
Single Family Active Listings report for November 2010 –
Condo Active Listings report for November 2010 –
Single Family Market Analysis By Area –
Single Family Market Analysis By Area
For questions regarding STAR MLS real estate statistics, please call 530.541.7007 or send an email to STAOR@STAOR.org.
