The Tahoe Paradise neighborhood is the neighborhood located along the right side of Pioneer Trail when accessing South Lake Tahoe via Highway 50 just past Meyers. This popular area had an interesting report this quarter. Both the average and median sold prices went up. The average went up by 26.1% while the median went up 34.8%. This is good news for sellers as this means your home value likely went up and now would be a good time to sell. Especially because this area is definitely dealing with low inventory as is evident when looking at the other stats. The closed sales took a 31.8% decrease while the new listings went down by 20% and the pendings went down by 30.2%. The days on market also went up by 6.7% for the average and 22.9% for the median. It is important to factor in that one listing that sat longer than others can throw this number off. The month supply is low at 2.6. Which was as we suspected based on the fact that prices went up and other factors went down. This is a 25.7% decrease, which means this neighborhood is definitely in a seller’s market and needs some new listings in order to satisfy demand.
| Tahoe Paradise Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 30 | 44 |
| Median Home Price | $508,750 | $377,483 |
| Average Home Price | $540,093 | $428,220 |
| Average List to Sale Ratio | 98.1% | 98.4% |
| Average Dollar Per Square Foot | $303 | $256 |
| Days on the Market | 127 | 119 |
| Month Supply | 2.6 | 3.5 |
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