The Tahoe Sierra neighborhood of South Lake Tahoe is one that’s dear to my heart. I grew up in this area and it is the perfect place for families. Surrounded by beautiful meadows and forest land, not to mention the upper truckee on the west end and trout creek on the east, there’s no end to the amount of fun available here. I remember mud ball fights, and climbing trees in the summers. Then snowshoeing with my dad and the dogs in winters. Tahoe Sierra (formerly the Sierra Tract) is also centrally located, making a skiing trip or beach day easy peasy. The housing market here is great too! Below you’ll find your market statistics report for this area.
According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 54 properties sold through the past 12 months (February 2016 through February 2017) in the Tahoe Sierra neighborhood. During the same period starting in 2015 there were 53 properties sold, so we saw a small rise of 1.9%. Proving that this neighborhood is a highly desired area with so many homes sold here
Of the 54 homes sold in the past year, the average home price was $306,407. The average home price this year went up to 8.0% higher than last year at $283,591 during 2016. The average days on the market was just 80 days, compared to just 120 days during 2016. This is a good sign for both buyer’s and sellers since the home price here is still relatively low but the properties values are rising steadily.
As for the list price to sold price ratio, homes in Tahoe Sierra last year sold for an average of 99.6% of the original asking price. The list to sold ratio in 2016 was slightly lower at 96.3% 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 2.5 months of inventory, a 16.7% decrease from 3 months of inventory for 2015.
There are currently 12 homes on the market within the Tahoe Sierra Neighborhood as of February 20th of 2017, 5 of which are in escrow. The price for the homes that are currently on the market range from $239,000 to $569,000. The average price per square foot is $259.77. The home listed for $239,000 is a 3 bedroom / 2 bath home with 1160 sqft built in 1960. This home has a very large lot size as well with 4988 sqft! The home listed for $569,000 is a 4 bedroom / 3 bath / 2 garage property with 2276 sqft built in 2011.
Summarizing all this information for the Tahoe Sierra 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!