The Country Club had some interesting news this quarter. Both the median and average sold price went up a pretty decent amount. The average was up 26.2% while the median was up 36.3%. Great news for sellers, however, buyers can expect to pay a higher price point in this neighborhood. Additionally, buyers can expect low inventory with a 28.6% decrease in homes for sale and no change in new listings. Closed sales are up 52.4% and pendings are up 45.5%. If you are a seller in this neighborhood, this is a good report. Median days on market have also gone down 34.6% which means homes are moving quicker. The month supply is down 39.3% at 3.7. A balanced market needs a 6 month supply and anything under 4 is considered a seller’s market. Once again, if you are thinking of selling in this neighborhood, now is a great time!
| Country Club Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 10 | 14 |
| Median Home Price | $545,000 | $399,900 |
| Average Home Price | $580,516 | $459,829 |
| Average List to Sale Ratio | 98.2% | 97.5% |
| Average Dollar Per Square Foot | $269 | $246 |
| Median Days on the Market | 89 | 136 |
| Month Supply | 3.7 | 6.1 |
The post Country Club Estates 3rd Quarter Market Report appeared first on Lake Tahoe Real Estate | South Lake Tahoe Real Estate Experts - Don & Theresa Souers.