According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 35 properties sold through the past 12 months (April 2015 through May 2016) in the neighborhood of Al Tahoe. During the same period starting in 2014 there were 39 properties sold.
Of the 35 homes sold in the past 12 months, the median home price is $359,000, the median home price in 2016 went up 7.5% from $334,000 during 2015. The average days on the market was 88 days, compared to 63 days during 2015.
As for the list price to sold price ratio, the homes that sold in Al Tahoe during the past 12 months sold for an average of 96.4% of the original asking price. The list to sold ratio in 2015 was 96.8% of the original asking price.
There were more homes for sale on the market in the past 12 months compared to the same period in 2015. The month supply in the past 12 months was 4.6 months of inventory, 7% more from 2015 that had a supply of 4.3 months worth of inventory.
There are currently 16 homes on the market within the Al Tahoe area as of May 17th of 2016, 6 of which are in escrow. The price range for the homes that are currently on the market range from $415,000 to $2,577,000. The average price per square foot is $367. The home listed for $415,000 is a 3 bedroom/2 bath/1 car garage home with 1,596sqft built in 1972. The home listed for $2,577,000 is a 4 bedroom/4 bath/2 car garage lake front property with 4,515sqft built in 1983.
Summarizing all this information for the neighborhood of Al Tahoe it is apparent that compared to 2015, in the past 12 months we had more sales and more homes on the market. The median home price went up from the previous year.