This tiny neighborhood in the heart of Lake Tahoe has everything! You are just a short walk through a beautiful meadow to the beach, trout creek runs through the meadow as well offering fishing and summer fun for the whole family! Highland Woods is a great place to buy a home! For those of you that already live here you will find that your home values are rising steadily making your homes a great investment for your future.
According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 18 properties sold through the past 12 months (February 2016 through February 2017) in the Highland Woods neighborhood. During the same period starting in 2015 there were 4 properties sold, so we saw quite the jump of 350%!
Of the 18 homes sold in the past year, the average home price was $430,306. The average home price this year went up to 43.9% higher than last year at $298,675 during 2016. The average days on the market was 123 days, compared to just 79 days during 2016.
As for the list price to sold price ratio, homes in Highland Woods last year sold for an average of 97.8% of the original asking price. The list to sold ratio in 2016 was slightly lower at 100.4% of the original asking price. This is to be expected with the huge rise in home sales combined with a rise in average home price.
Contrary to most of the other neighborhoods in South Lake Tahoe, there were a few more homes for sale on the market this year compared to the same period in 2016. The month supply last year was 1.6 months of inventory the same as the inventory for 2016.
There are currently 2 homes on the market within the Highland Woods Neighborhood as of March 3rd of 2017, both of which are in escrow. Proving the desirability of this area. The price for the homes that are currently on the market range from $299,000 to $569,850. The average price per square foot is $244.08. The home listed for $299,000 is a 3 bedroom / 2 bath home with 1216 sqft built in 1976. The home listed for $569,850 is a 6 bedroom / 3 bath property with 2352 sqft built in 1972.
Summarizing all this information for the Highland Woods 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!