If you are looking at buying or listing homes for sale in Montgomery Estates, knowing the current market conditions is a great way to achieve your real estate goals. This neighborhood is highly sought after and one of the areas that has the highest sold prices for South Lake Tahoe. With increased prices and high demand, it is crucial to choose a local Montgomery Estates realtor that knows what is happening in the area. However, knowing things like days on market and average sold price can help sellers AND buyers. As a seller, you know what to list at and as a buyer, you have a good idea of what makes a competitive offer. Your Montgomery Estates Realtor will also be able to offer a more tailored approach based on your specific property and needs. So how are homes for sale in Montgomery Estates doing? Lets take a look!
The average and median sold prices for homes for sale in Montgomery Estates are both up compared to this time last year. The average is up 15.4% at $677,01 while the median is up 11.6% at $635,500. The average percentage of list price is up 98.3%. This information is good to use as an indicator of your negotiation power. Unfortunately for buyers, the amount of Montgomery Estates homes for sale is down 21.4%. New listings are down 8.3% while closed sales are down 31%. Pendings are also down 37.3%. How can Montgomery Estates homes for sale be down in all these categories but the prices continue to go up? This area is in a sellers market with a 2.8 month supply. Anything less than 4 is considered a sellers market and in order to be balanced, we need a 6 month supply. Days on market are also down quite a bit with the median sitting at 63 and the average sitting at 77. These numbers are how long Montgomery Estates homes for sale go from active to pending. If you have your eye on this neighborhood, my recommendation is to not wait. With this area so sought after, a property can move quickly. I suggest working with a qualified Montgomery Estates realtor who can act as your advocate and help guide you through the process. If you have any questions, feel free to reach out. I would be happy to help!