According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 23 properties sold through the past 12 months (July 2015 through JUly 2016) in the Stateline neighborhood. During the same period starting in 2014 there were 6 properties sold, an incredible 283.3 % jump in the last year.
Of the 23 homes sold in the past 12 months, the average home price was $822,221 the average home price this year went up 71.6% from $479,167 during 2015. The average days on the market was 129 days, compared to 132 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Stateline Area during the past 12 months sold for an average of 98.2% of the original asking price. The list to sold ratio in 2015 was 97.6% 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 3.0 months of inventory, a 66.3% decrease from 2015.
There are currently 5 homes on the market within the Stateline Neighborhood as of July 15th of 2016, 2 of which are in escrow. The price for the homes that are currently on the market range from $195,000 to $1,248,000. The average price per square foot is $304.81. The home listed for $195,000 is a 2 bedroom/1 bath home with 900 sqft built in 1957. The home listed for $1,248,000 is a 5 bedroom / 4 bath / 2 car garage property with 3,099 sqft built in 2013.
Summarizing all this information for the Stateline 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.