According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 39 properties sold through the past 12 months (October 2015 through October 2016) in the Tahoe Paradise neighborhood. During the same period starting in 2014 there were 37 properties sold, a 5.4% rise in the last year.
Of the 39 homes sold in the past year, the average home price was $427,518 the average home price this year went down 1.7% from $434,931 during 2015. The average days on the market was 127 days, compared to 81 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Tahoe Paradise Area during the past year sold for an average of 98.6% of the original asking price. The list to sold ratio in 2015 was 96.8% 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 last year was 3.2 months of inventory, a 20% decrease from 4 months of inventory for 2015.
There are currently 19 homes on the market within the Tahoe Paradise Neighborhood as of October 17th of 2016, 12 of which are in escrow. The price for the homes that are currently on the market range from $289,000 to $899,000. The average price per square foot is $277.86. The home listed for $289,000 is a 2 bedroom / 1 bath / 1 car garage home with 888 sqft built in 1962. The home listed for $899,000 is a 5 bedroom / 4 bath / 2 car garage property with 3402 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 small drop in the number of homes on the market. The average home price has fallen a little, which may be good news for potential buyers.