According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 35 properties sold through the past 12 months (January 2016 through January 2017) in the Tahoe Paradise neighborhood. During the same period starting in 2015 there were 46 properties sold, so we saw a fall of 23.9%.
Of the 35 homes sold in the past year, the average home price was $464,620. The average home price this year went up to 4.4% higher than last year at $445,130 during 2016. The average days on the market was 128 days, compared to just 91 days during 2016.
As for the list price to sold price ratio, homes in Tahoe Paradise last year sold for an average of 98.7% of the original asking price. The list to sold ratio in 2016 was slightly lower at 97.3% of the original asking price.
There were less homes for sale on the market this year compared to the same period in 2016. The month supply last year was 2.8 months of inventory, a 30.0% decrease from 4 months of inventory for 2015.
There are currently 7 homes on the market within the Tahoe Paradise Neighborhood as of January 17th of 2017, 2 of which are in escrow. The price for the homes that are currently on the market range from $455,000 to $798,000. The average price per square foot is $280.96. The home listed for $455,000 is a 3 bedroom / 2 bath / 2 car garage home with 1176 sqft built in 1964. The home listed for $798,000 is a 4 bedroom / 3 bath / 2 garage property with 2916 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 risen slightly, showing a steady upturn in the housing market which is good news for everyone!