The Sierra Tract neighborhood in South Lake Tahoe is currently one of the hottest areas in which to buy a home.
Lake Tahoe Real Estate in the Sierra Tract Neighborhood
Homes in the Sierra Tract area vary from small homes and cabins to newer contemporary homes. However, most Lake Tahoe neighborhoods have this kind of mix. This is a great neighborhood for a second home as well as income property but not ideally suited for a Vacation Home income property. However, there are several pockets within the neighborhood that could be good for a vacation rental home. The average lot size is 6,000 square feet and the average home size is from 1,000 to 1,500 square feet. The area is generally flat without great views though some of the homes around the perimeter have meadow, river and mountain views.
The median sales price of homes in this area over the last 12 months rose 30% from the previous year to $250.000. The number of closed sales rose slightly but I foresee a larger increase in about 45 days when the homes sold this month close escrow. Even though there was an almost 10% increase in the number of new listings the number of homes for sale in Sierra Tract dropped 53%. This is why this neighborhood is so hot! In my opinion this is a good neighborhood to realize a good ROI (return on investment).
Currently there are 13 homes for sale in Sierra Tract ranging from $207,900 for a 3-bedroom home to $489,000 for a newer, 4-bedroom home.
Sierra Tract Neighborhood
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