According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 55 properties sold through the past 12 months (July 2015 through JUly 2016) in the Montgomery Estates neighborhood. During the same period starting in 2014 there were 40 properties sold.
Of the 55 homes sold in the past 12 months, the average home price was $506,788 the average home price this year went up 1.9% from $497,416 during 2015. The average days on the market was 106 days, compared to 107 days during 2015.
As for the list price to sold price ratio, the homes that sold in Montgomery Estate Area during the past 12 months sold for an average of 97.5% of the original asking price. The list to sold ratio in 2015 was 98.1% of the original asking price.
There were less 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 4.5 months of inventory, a 34.8% decrease from 2015.
There are currently 18 homes on the market within the Montgomery Estates Neighborhood as of July 11th of 2016, 9 of which are in escrow. The price for the homes that are currently on the market range from $359,950 to $1,495,000. The average price per square foot is $268.56. The home listed for $359,950 is a 2 bedroom/2 bath/2 car garage home with 1120 sqft built in 1972. The home listed for $1,495,000 is a 5 bedroom / 5 bath / 2 car garage property with 6,131 sqft built in 1981.
Summarizing all this information for the Montgomery Estates neighborhood it is apparent that compared to 2015, in the past 12 months we had a rise in sales despite a decrease in the number of homes on the market. The average home price has risen a little bit from the previous year as well.