If you are looking at selling or buying homes for sale in Montgomery Estates, being aware of the current market conditions is a great way to achieve your real estate goals successfully. Montgomery Estates real estate is a highly sought after neighborhood with one of the highest sold prices for the California side of South Lake Tahoe. With increased prices and high demand, it is crucial to choose a South Lake Tahoe realtor that knows what is happening in this popular neighborhood. They can educate you on stats like days on market and average sold price. These numbers give buyers and sellers an idea of what they should list their homes for sale in Montgomery Estates at, as well as what makes an enticing offer. Your Montgomery Estates realtor will be able to offer a strategic approach based on your specific property and needs. So how are homes for sale in Montgomery Estates doing? Let’s take a look!
The average and median sold prices for Montgomery Estates homes for sale have increased compared to this time last year. The average is up 19.2% at $693,453. This is actually down from last month’s average sold price of $698,229. The median is up 13.5% at $638,000. This also happens to be down from last months $644,000. The average percentage of list price is sitting at 98.2%. This number is good to use as a way to gauge your negotiation power. Unfortunately for buyers, the amount of Montgomery Estates homes for sale is down 7.7%.
As far as inventory levels go, new Montgomery Estates real estate listings have seen a 1.7% decrease while the amount of homes for sale is down 7.7%. Pendings are down 12.5% and closed sales 36.2%. The good news for buyers is that the month supply has gone up 23.1% compared to this time last year and is now at a 3.2 supply. This is up from last month’s 2.8, however, this neighborhood is still in a seller’s market. Days on market are also down quite a bit with the median sitting at 63 and the average sitting at 72. If you have your eye on this neighborhood, link up with a qualified Montgomery Estates Realtor. With this sought-after area, properties move FAST. I suggest working with a qualified Montgomery Estates realtor who can act as your advocate and guide you through the entire process of listing and buying in this neighborhood. If you have any questions, feel free to reach out. I would be happy to help!