Are you thinking of listing or buying homes for sale in South Lake Tahoe? If so, one of the best ways you can prepare yourself is by finding out the current market conditions. Whether you are selling or buying, knowing how long South Lake Tahoe homes for sale are on the market, in addition to the average and median sold price, can be very helpful. As a seller, you get an idea of how long your South Lake Tahoe real estate will likely stay active as well as what to list it at. As a buyer, you can use this information to craft a competitive offer. You can get this information from a South Lake Tahoe realtor. We pull these stats from our local Multiple Listing Service as it is the most reliable source AND it is updated frequently. So how are homes for sale in South Lake Tahoe doing? Let’s take a look at the latest numbers.
The good news for sellers is that median and average sold prices for are up compared to this time last year. The median is up 7% at $429,000 while the average is up 7.2% at $519,794. These two numbers are basically the same as last month, which should come as a relief to buyers. Whether prices are leveling out or it is a result of the season remains to be see. When it comes to negotiating how much to offer for homes for sale in South Lake Tahoe, the percentage of list price is a good indicator. That is currently at 98.2% which is also basically the same as last month. Unfortunately for buyers, the amount of South Lake Tahoe homes for sale are down 9.7%. Closed South Lake Tahoe homes for sale are down a little bit at 4.6%. New listings, luckily, are up. Albiet, barely at 0.2%. Pending South Lake Tahoe real estate is down 6.6%. The month supply is still in a sellers market at 3.5%. This has been consistent for a few months now. South Lake Tahoe realtors look for a 6 month supply in order for the market to be considered balance. Anything less than 4 is considered a sellers market. So currently, South Lake Tahoe real estate is in a sellers market. Median days on market are at 73 while average is at 102. Days on market is how long homes are going from active to pending. This info gives you a good idea on how quick real estate in South Lake Tahoe is moving. Of course, a qualified South Lake Tahoe realtor can also give you a custom answer based on comparable properties and market demand. If you have questions about real estate in South Lake Tahoe, or are interested in listing or buying homes, give me a call. I would be happy to help!