The Montgomery Estates saw mixed notes in the categories we follow this quarter. Both the average and median home prices increased enough that this neighborhood has the second highest average and median sold price after The Tahoe Keys.The average increased 28.8% while the median increased 29.4%. Closed sales went down 12.7%, pending sales went down 16.9% and new listings decreased slightly at 1.7%. Days on the market decreased a decent amount, which sellers usually like to hear. This means that homes are getting and accepting offers quicker in comparison. The month supply has gone down 51.1% so this neighborhood is still in a sellers market and likely will be for a bit.
| Meyers Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 48 | 55 |
| Median Home Price | $640,500 | $495,000 |
| Average Home Price | $652,625 | $506,788 |
| Average List to Sale Ratio | 97.8% | 97.1% |
| Median Dollar Per Square Foot | $281 | $244 |
| Days on the Market | 95 | 138 |
| Month Supply | 2.2 | 4.5 |
The post Montgomery Estates 2nd Quarter Update appeared first on Lake Tahoe Real Estate | South Lake Tahoe Real Estate Experts - Don & Theresa Souers.