According to the South Lake Tahoe Association of REALTOR’s Multiple Listing Services, there were 18 properties sold through the past 12 months (April 2016 through April 2017) in the Christmas Valley 1 neighborhood. During the same period starting in 2015 there were 13 properties sold, so we saw a large rise of 38.5%.
Of the 18 homes sold in the past year, the average home price was $559,972. The average home price this year rose quite a bit by 42.8% higher than last year at $392,223 during 2016. The average days on the market was 126 days, compared to 139 days during 2016.
As for the list price to sold price ratio, homes in Christmas Valley 1 last year sold for an average of 98.8% of the original asking price. The list to sold ratio in 2016 was slightly lower at 96.3% of the original asking price.
Like most of the other neighborhoods in South Lake Tahoe, there were less homes for sale on the market this year compared to the same period in 2016. The month supply last year was 1.9 months of inventory. This is a 54.8% decrease from the inventory for 2016 at 4.2.
There are currently 6 homes on the market within the Christmas Valley 1 Neighborhood as of April 10th of 2017, none of which are in escrow. The price for the homes that are currently on the market range from $419,000 to $769,000. The average price per square foot is $264.69. The home listed for $419,000 is a 4 bedroom / 2 bath / 1 car garage home with 1596 sqft built in 1981. The home listed for $769,000 is a 4 bedroom / 3 bath / 2 car garage property with 3350 sqft built in 2007.
Summarizing all this information for the Christmas Valley 1 neighborhood it is apparent that compared to 2016, in the past 12 months we had a rise in sales despite a large 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 sellers!