According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 33 properties sold through the past 12 months (February 2016 through February 2017) in the Pioneer Trail neighborhood. During the same period starting in 2015 there were 30 properties sold, so we saw a rise of 10%.
Of the 33 homes sold in the past year, the average home price was $439,673. The average home price this year went up to 5.8% higher than last year at $415,423 during 2016. The average days on the market was 102 days, compared to just 97 days during 2016.
As for the list price to sold price ratio, homes in Pioneer Trail last year sold for an average of 99.5% of the original asking price. The list to sold ratio in 2016 was slightly lower at 96.9% 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 1.5 months of inventory, a 59.5% decrease from 3.7 months of inventory for 2015.
There are currently 6 homes on the market within the Pioneer Trail Neighborhood as of February 24th of 2017, 4 of which are in escrow. The price for the homes that are currently on the market range from $369,000 to $2,150,000. The average price per square foot is $297.95. The home listed for $369,000 is a 3 bedroom / 2 bath home with 1056 sqft built in 1975. This home has a very large lot size as well with 13068 sqft! The home listed for $2,150,000 is a 7 bedroom / 6 bath / 4 garage property with 5094 sqft built in 2016.
Summarizing all this information for the Pioneer Trail neighborhood it is apparent that compared to 2016, 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 steadily, showing an upturn in the housing market which is good news for buyers and sellers!