According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 34 properties sold through the past 12 months (November 2015 through November 2016) in the Tahoe Paradise neighborhood. During the same period starting in 2014 there were 26 properties sold, a 30.8% rise in the last year.
Of the 34 homes sold in the past year, the average home price was $380,544. The average home price this year went down 1.4% from $386,073 during 2015. The average days on the market was 149 days, compared to 122 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Meyers Area during the past year sold for an average of 98.1% 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 3.8 months of inventory, a 38.7% decrease from 6.2 months of inventory for 2015.
There are currently 16 homes on the market within the Meyers Neighborhood as of November 21st of 2016, 7 of which are in escrow. The price for the homes that are currently on the market range from $275,000 to $595,000. The average price per square foot is $290.52. The home listed for $275,000 is a 2 bedroom / 1 bath / 1 car garage home with 980 sqft built in 1960. The home listed for $595,000 is a 4 bedroom / 3 bath / 2 car garage property with 2560 sqft built in 2006.
Summarizing all this information for the Meyers neighborhood it is apparent that compared to 2015, in the past 12 months we had a rise in sales despite a large drop in the number of homes on the market. The average home price has fallen a little, which sounds like good news for potential buyers.