According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 8 properties sold through the past 12 months (March 2011 through February 2012) in the neighborhood of Highland Woods. During the same period in 2010 there were 5 properties sold.
From the 8 properties sold in the past 12 months, 1 of them was a foreclosure and 1 was a short sale. Of the 5 properties sold in 2010, 3 of them were foreclosures and none were short sales.
Of the 8 homes sold in the past 12 months, the median home price is $304,950, the median home price in 2011 went up 14% from $267,500 during 2010. The average price per square feet of single family homes was $185, up from $158 price per sqft in 2010. The average days on the market was 151 days, compared to 113 days during 2010.
As for the list price to sold price ratio, the homes that sold in Highland Woods the past 12 months sold for an average of 89.5% of the original asking price. The list to sold ratio in 2010 was 88.8% of the original asking price, 8% less compared to 2011.
There were almost the same amount of homes for sale on the market in the paste 12 months, compared to the same period in 2010. The month supply was 6.2 months of inventory on both years.
There are currently 7 homes on the market within the Highland Woods area as of March 4th, 3 of which are in escrow. Of the homes in escrow, the prices range from a low of $184,900 up to $229,000, all with an average of $176 price per square feet. The home listed for $184,900 is a 3 bedrooms/2 baths/1 car garage home with 1,208sqft built in 1983. The home listed for $229,000 is a 3 bedrooms/3 baths/2 car garage home with 1,280sqft built in 1977.
Summarizing all this information for the neighborhood of Highland Woods we can realize that compared to 2010, in the past 12 months we had more sales and and the same amount of inventory on the market. The median home price went up from the previous year but homes took a little longer to sell. Also, there were less distressed properties on the market in 2011 compared to 2010.