According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 31 properties sold through the past 12 months (December 2015 through December 2016) in the Al Tahoe neighborhood. During the same period starting in 2014 there were 39 properties sold, so we saw a small drop of 20.5%.
Of the 31 homes sold in the past year, the average home price was $466,485. The average home price this year went up to 3.8% higher than last year at $449,247 during 2015. The average days on the market was 97 days, compared to just 70 days during 2015.
As for the list price to sold price ratio, homes in the Al Tahoe Area last year sold for an average of 96.5% of the original asking price. The list to sold ratio in 2015 was slightly lower at 96.4% of the original asking price.
There were less homes for sale on the market this year compared to the same period in 2015. The month supply last year was 4.0 months of inventory, a small 9.1% decrease from 4.5 months of inventory for 2015.
There are currently 15 homes on the market within the Al Tahoe Neighborhood as of December 12th of 2016, 4 of which are in escrow. The price for the homes that are currently on the market range from $265,000 to $4,750,000. The average price per square foot is $651.46. The home listed for $225,000 is a 2 bedroom / 2 bath home with 713 sqft built in 1951. The home listed for $4,750,000 is a 3 bedroom / 4 bath lakefront property with 1200 sqft built in 1955.
Summarizing all this information for the Al Tahoe neighborhood it is apparent that compared to 2015, in the past 12 months we had a large rise in sales despite a small drop in the number of homes on the market. The average home price has risen slightly, showing a steady upturn in the housing market which is good news for everyone!