When it comes to listing and buying homes for sale in Tahoe Keys, being aware of the market conditions are a great way to set yourself up for success transaction. Market conditions are made up of numbers that can be used to your advantage as both a buyer and a seller. These numbers are days on market, the average and median sold price, percentage of list price and more. As a buyer, you can use these details to create a competitive offer. Whether you are in a buyer’s market or a seller’s market, creating an enticing offer is important. Sometimes, a buyer will low-ball to get the negotiations started and that is never a good place to start off a Tahoe Keys real estate transaction. As a seller, you get a good idea of what homes for sale in Tahoe Keys are actually selling at. This is a great way to figure out whether or not your list price or offer price is market appropriate. If you are priced too high, buyers may overlook your home simply because it is out of budget. This can cause your home to sit on the market too long and “grow stale”. Essentially, folks assume there is something wrong with your Tahoe Keys real estate and keep moving. Basing your decisions off of what the market is doing, is always a good way to go. Of course, working with an experienced Tahoe Keys realtor is the BEST way to go. We are able to act as our clients advocates and guide you through every step of the transaction. So how is the Tahoe Keys real estate market doing? Let’s take a look.
Currently the average and median sold prices for homes for sale in Tahoe Keys are up compared to this time last year. The median is down 3.8% at $707,000 and the average is up 3.8% at $803,876. The median percentage of list price is at currently at 96.6%. The percentage of list price is a great way to gauge your negotiation power. This tells you, on average or median, how much of the list price Tahoe Keys homes for sale are getting. Some of the “hot markets” are seeing numbers over 100%, which tells us those properties are not only getting asking, but over. Tahoe Keys homes for sale, in general, are not there. However, us Tahoe Keys realtors like to see those numbers in the 90’s! The amount of Tahoe Keys homes for sale is up 15.6% while the new listings have seen no change. Pending sales have seen a 16.9% decrease while the closed sales have seen a 11.7% decrease. The median days on market is up to 105. The month supply is still sitting at 5.7. A balanced market needs 6 while anything less than 4 is considered a seller’s market. While South Lake Tahoe in general may be in a seller’s market, this neighborhood is right on the line of being balanced. If you are looking for a personalized report on your local neighborhood, or one you are interested in, let me know. As a long time Tahoe Keys realtor, I would be happy to help!