According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 18 properties sold through the past 12 months (December 2015 through December 2016) in the Stateline neighborhood. During the same period starting in 2014 there were 9 properties sold, a 100% rise in the last year!
Of the 18 homes sold in the past year, the average home price was $937,632. The average home price this year soared to 118.4% higher than last year at $424,813 during 2015. The average days on the market was 146 days, compared to just 75 days during 2015.
As for the list price to sold price ratio, the homes that sold in the Stateline Area last year sold for an average of 98.1% of the original asking price. The list to sold ratio in 2015 was slightly higher at 98.2% 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 2.7 months of inventory, a 64.5% decrease from 7.6 months of inventory for 2015.
There are currently 10 homes on the market within the Stateline Neighborhood as of December 5th of 2016, 3 of which are in escrow. The price for the homes that are currently on the market range from $225,000 to $1,349,000. The average price per square foot is $338.95. The home listed for $225,000 is a 2 bedroom / 1 bath home with 876 sqft built in 1954. The home listed for $1,349,000 is a 5 bedroom / 3 bath / 3 car garage property with 2844 sqft built in 2008.
Summarizing all this information for the Stateline neighborhood it is apparent that compared to 2015, in the past 12 months we had a large rise in sales despite a pretty significant drop in the number of homes on the market. The average home price has risen tremendously, showing the desirability of this area and could be great news for owners of homes in the neighborhood.