APPLES TO APPLES

This is the first of a five-part analysis of real estate at Lake of the Pines, California.   In Part 1 I will compare average-sized Lake of the Pines homes that sold during the past 12 months (May 19, 2011 through May 18, 2012) with average homes that sold the previous year (May 19, 2010 through May 18, 2011). For this first study I am defining average-sized homes as between 1500 and 2500 square feet and excluding “lakefront” homes along the shore.

                                                     5/19/10 thru 5/18/11           5/19/11 thru 5/19/12        

Number of homes sold                                  46                                                    43

Highest price sold                                   $435,000                                      $405,000

Lowest price sold                                      $150,000                                         $73,000

Average price sold                                    $241,992                                       $248,931

Median price sold                                      $224,000                                      $239,900

Average list price                                       $254,694                                      $262,824

%sold price/list price                                     95%                                               95%

Price per square foot listed                         $137                                             $136

Price per square foot sold                           $130                                               $129

Average days on the market                          119                                                  94

ANALYSIS

You can see that about the same number of homes (43 to 46) sold this year as in the previous year, but sold 25 days  faster (94 days on the market to 119).

Prices have risen slightly, about 6%, (comparing the median of $224,000 in 2010-2011 with the median of $239,900 in 2011-2012).

Prices have risen slightly, about 3% (comparing the average of $241,992 in 2010-2011 with the average of $248,931 in 2011-2012).

Prices are almost identical (comparing price per square foot  ($130 to $129).  This is probably the most reliable indicator of value.

SUMMARY

Prices of homes sold at Lake of the Pines have been relatively unchanged from the previous year through this year.