The Heavenly Valley neighborhood saw mostly positive notes in most of the categories we follow. Both the average and median home prices increased. The average increased by 19.3% while the median increased by 16.1%. The number of closed sales did go down by 18.2%. Last quarter this was down by 24.4%, so up from last quarter. New listings did get a boost with a 22.2% increase. The percentage of list price did get a little bump as well. Pending sales only went down 4.8% which is good considering there are some other areas that have taken a bigger hit. Now, this likely has to do with being in a sellers market with a month supply of 4.2, which is down by 16%. Low inventory will usually have an impact on the amount of homes for sale, that have pended, etc. while the prices will go up due to demand. Days on the market have also gone down. This is a desirable area so it is no surprise that homes are accepting offers quickly.
| Heavenly Valley Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 36 | 44 |
| Median Home Price | $357,000 | $307,500 |
| Average Home Price | $521,622 | $437,132 |
| Average List to Sale Ratio | 98.5% | 94.7% |
| Average Dollar Per Square Foot | $300 | $283 |
| Days on the Market | 92 | 113 |
| Month Supply | 4.2 | 5.0 |
The post Heavenly Valley 2nd Quarter Market Update appeared first on Lake Tahoe Real Estate | South Lake Tahoe Real Estate Experts - Don & Theresa Souers.