The Meyers neighborhood had a pretty interesting quarterly report, which ultimately is a result of low inventory. The median sales price is down, minimally, while the average home sales are up 1%. The amount of homes for sale declined 60%, closed sales went down 8.8%, new listings went down 30.8% and pending sales went down 23.5%. Things going down are generally not things we like to report, however, they come with the territory when your month supply is 1.5. A balanced market needs 6 months and anything less than 4 is considered a seller’s market so if you have your eye on this area, act fast when something comes on the market.
| Meyers Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 31 | 34 |
| Median Home Price | $354,500 | $355,000 |
| Average Home Price | $384,360 | $380,544 |
| Average List to Sale Ratio | 98% | 97.3% |
| Average Dollar Per Square Foot | $287 | $248 |
| Median Days on the Market | 88 | 97 |
| Month Supply | 1.5 | 3.8 |
The post Meyers 3rd Quarter Market Update appeared first on Lake Tahoe Real Estate | South Lake Tahoe Real Estate Experts - Don & Theresa Souers.