According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 44 properties sold through the past 12 months (July 2015 through July 2016) in the Tahoe Paradise neighborhood. During the same period starting in 2014 there were 35 properties sold, a good 25.7% jump in the last year.
Of the 44 homes sold in the past 12 months, the average home price was $428,220 the average home price this year went down 4.7% from $449,286 during 2015. The average days on the market was 70 days, compared to 65 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Tahoe Paradise Area during the past 12 months sold for an average of 98.5% of the original asking price. The list to sold ratio in 2015 was 97% 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 3.5 months of inventory, a 7.9% decrease from 2015.
There are currently 15 homes on the market within the Tahoe Paradise Neighborhood as of July 15th of 2016, 3 of which are in escrow. The price for the homes that are currently on the market range from $315,000 to $879,000. The average price per square foot is $256.27. The home listed for $315,000 is a 2 bedroom/1 bath home with 909 sqft built in 1960. The home listed for $879,000 is a 4 bedroom / 3 bath property with 3,180 sqft built in 2016.
Summarizing all this information for the Tahoe Paradise 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 fallen a little bit from the previous year as well.