According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 25 properties sold through the past 12 months (August 2015 through August 2016) in the North Upper Truckee 2 neighborhood. During the same period starting in 2014 there were 18 properties sold, a 38.9% jump in the last year.
Of the 25 homes sold in the past 12 months, the average home price was $588,091 the average home price this year went up 19% from $494,000 during 2015. The average days on the market was 98 days, compared to 83 days during 2015.
As for the list price to sold price ratio, the homes that sold in the North Upper Truckee 2 Area during the past 12 months sold for an average of 98.4% of the original asking price. The list to sold ratio in 2015 was 97.3% 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 2.6 months of inventory, a 25.7% decrease from 3.5 months of inventory 2015.
There are currently 9 homes on the market within the North Upper Truckee 2 Neighborhood as of August 12th of 2016, 3 of which are in escrow. The price for the homes that are currently on the market range from $399,000 to $1,588,000. The average price per square foot is $270.33. The home listed for $399,000 is a 3 bedroom / 2 bath / 1 car garage home with 1344 sqft built in 1975. The home listed for $1,588,000 is a 6 bedroom / 5 bath / 3 car garage property with 5,258 sqft built in 2009.
Summarizing all this information for the North Upper Truckee 2 neighborhood it is apparent that compared to 2015, in the past 12 months we had a rise in sales despite a pretty large decrease in the number of homes on the market. The average home price has risen steadily from the previous year as well.