If you are listing or buying homes for sale in South Lake Tahoe, educating yourself on the area’s market conditions have a huge impact on your South Lake Tahoe real estate success. As a buyer, you can get the details necessary to make a competitive offer. Which is especially important in a seller’s market. As a seller, you can use these details to get an idea of what makes a market appropriate list price. The best way to get this information is from a South Lake Tahoe realtor. When you work with an experienced South Lake Tahoe realtor, you have an advocate, guide AND a reliable resource for accurate information. So how is South Lake Tahoe real estate doing? Check out the latest market report!
As far as pricing goes, the good news for sellers is that sold prices for homes for sale in South Lake Tahoe have increased! From both this time last year, and last month. Currently, the average sold price is up 5.7% at $528,783. The median has increased 7.1% at $439,000. The median percentage of list price has increased 0.1% at 97.8%.
As far as the inventory supply, the amount of homes for sale in South Lake Tahoe are down 4.8%. while new listings are up 8.5%. Closed South Lake Tahoe homes for sale have gone down by 4.8% while pending South Lake Tahoe homes for sale have decreased 3.1%. The average days on market for South Lake Tahoe homes for sale is down 17.2% at 101. Median days on market for real estate in South Lake Tahoe is now at 72. The month supply is 3.6. A South Lake Tahoe realtor looks for a 6 month supply in order to consider the market balanced. Anything less than 4 is a seller’s market, which we are currently in. Keep in mind, this is for South Lake Tahoe as a whole. Once again, each neighborhood has its own set of stats and some of our neighborhoods are actually in a buyer’s market. There are very few, but there are some. If you are looking for real estate in South Lake Tahoe, or a South Lake Tahoe realtor, give me a call!