Kingswood is starting to feel the hot spotlight of this crazy market. A home on Whitehall just received 5+ offers in a few hours on market and is in escrow for almost 10% over asking price of $899,000.
There are only 2 listings in all of Kingswood and Kingswood West. That is crazy low. There are currently 4 escrows. Even with the big break in the spring with no sales, we are at the same level as last year of sales. Any new listings will get gobbled up quickly since we have almost nothing to sell these anxious buyers.
Kingswood and Kingswood West had a fantastic year in 2019. Sales volume was almost as high as ’16 and ’17 which had the highest sales in the last 15 years including the peak of ’06.
Quick Stats and Comparisons:
- 2 active Kingswood + Kingswood West listings from $599,000 and $1,800,000.
- 4 homes in escrow listed at $525,000 and $899,000.
- 12 sales thus far in 2020 vs 13 to this time in 2019.
- Number of sales was very high in 2019: 27 vs 19 sales in 2018.
- Time on market was also up in 2019: 72 days vs 42 in 2018.
The Tahoe area from Rubicon to Kings Beach averaged $1.19m sales price. Kingswood averaged $727k last year. The neighborhood is considered to be an upgrade from the Kings Beach grid and a value given nice lot sizes and central location to year-round activities, Tahoe, Northstar, etc.
My family and I live on Kingswood Drive – I enjoy working in the neighborhood and we love raising our kids here!