South Lake Tahoe Real Estate Update: Stateline, NV Absorption Rates
Decline in Demand, Increase in Inventory and Price Declines create Excellent Buying Opportunities in South Lake Tahoe.
We’ve just updated the Absorption Rates for the Stateline, NV side of our South Lake Tahoe real estate market.
The market is absorbing (selling) an average of about 6 homes per month.
This chart contains market wide absorption rates, and a lot more.
For absorption rates by price range, plus current inventory, here.
Summary:
In the last 180 days in the Stateline, NV market of South Lake Tahoe, the average number of homes sold per month is 6.5. In 2007, the average number of homes sold per month was 6. It will take 2 years to sell the current inventory at an absorption rate of 6.5 sales per month.The Bottom Line:
There are more homes on the market than will sell in the next two years… by far. Motivated Sellers will increasingly represent Excellent Opportunities for Buyers.
Number Sales : (Demand is down)
There have been 76 homes sold on the Stateline, NV side of our South Lake Tahoe market in the last 365 days. There were only 74 homes sold in 2007.Annual Results: Total Number Sales
89 single family homes sold in Stateline, NV of South Lake Tahoe in 2006. 140 single family homes sold in Stateline, NV of South Lake Tahoe in 2005. 173 single family homes sold in Stateline, NV of South Lake Tahoe in 2004. 120 single family homes sold in Stateline, NV of South Lake Tahoe in 2003.
Annual Results: Monthly Absorption Rates
