According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 24 properties sold through the past 12 months (May 2015 through June 2016) in the Y Area. During the same period starting in 2014 there were 16 properties sold.
Of the 24 homes sold in the past 12 months, the average home price was $291,813, the average home price this year went down .9% from $294,325 during 2015. The average days on the market was 138 days, compared to 173 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Y Area during the past 12 months sold for an average of 96.2% of the original asking price. The list to sold ratio in 2015 was 93.9% 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 6.8 months of inventory, a 6.2% increase from 2015.
There are currently 9 homes on the market within the Y Area as of June 17th of 2016, 4 of which are in escrow. The price range for the homes that are currently on the market range from $230,000 to $499,000. The average price per square foot is $334.52. The home listed for $230,000 is a 3 bedroom/2 bath home with 816 sqft built in 1961. The home listed for $499,000 is a 4 bedroom / 3 bath / 1 car garage property with 2,210 sqft built in 1996.
Summarizing all this information for the Y Area it is apparent that compared to 2015, in the past 12 months we had a rise in both sales and the number of homes on the market. The average home price grew a little bit from the previous year as well.