If you are in the market to buy or sell homes for sale in Montgomery Estates, knowing the state of the current market is a great way to achieve your real estate goals quickly. Montgomery Estates real estate is a popular 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 things like days on market and average sold prices. These numbers give sellers an idea of what they should list their homes for sale in Montgomery Estates at, while buyers know 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 13.8% at $687,967. While this has continually been up compared to the prior year, this has actually gone down compared to the last couple months. The median is up 10.1% at $644,000, which is up from this time last year. The average percentage of list price is sitting at 98.1%. This number is a good tool to use when determining your negotiation power.
As far as inventory levels go, homes for sale in Montgomery Estates are actually up 8.3%, which is a nice change of pace for buyers looking to purchase real estate in this area. New Montgomery Estates real estate listings, however, have seen a 1.7% decrease. Pendings are down 18.9% and closed sales have gone down 28.3%. More good news for buyers this month in terms of the month supply. That has gone up for the second month in a row by 32% and is now a 3.3. Anything less than 4 is considered a seller’s market while a 6 month supply is considered balanced. Average days on market are also down quite a bit with the median sitting at 65 and the average sitting at 84. If you have your eye on this neighborhood, be sure to align yourself with a qualified Montgomery Estates Realtor. Properties are moving fast in this sought-after area. A qualified Montgomery Estates realtor 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!