Whether you are listing or buying homes for sale in Tahoe Keys, there are a lot of details that go into it regardless of what side of the transaction you are on. A seller has to prepare their property for the market which includes decluttering, packing, staging, photos and coming up with a listing price that is based on comparable sales. A buyer has to prepare their finances, get approved and start the house hunting aspect. Once both parties have made or accepted an offer, the job is not over. In fact, there are several more steps that need to be taken to close escrow. The best thing buyers and sellers can do before they get started is hire a Tahoe Keys realtor. We provide our clients with information that can guide them in attracting a competitive offer as well as making one. When listing homes for sale in Tahoe Keys, details like days on market and average sold price are great ways to figure out what to expect. When buying Tahoe Keys homes for sale, these give you an idea of what you can expect to spend as well as how much time you have to think it over. When you work with a Tahoe Keys realtor, you get this information straight from the MLS, which is the best way to get up to date information that is also accurate. If you are interested in buying or selling Tahoe Keys real estate, check out the latest market report below!
The month’s report has some different notes compared to last month. For the last several months, we have seen sold prices for Tahoe Keys homes for sale continue to increase. In fact, this neighborhood has the highest average and median sold price on the California side of the South Shore. While the prices are up compared to this time last year, this month is singing a different tune. While the average sold price for Tahoe Keys real estate is up 14.2% compared to this time last year at $861,422 it is barely up from last month’s $861,163. The median sold price for real estate in Tahoe Keys is up 14.2% compared to this time last year at $789,000, however last month it was actually $791,000. The average percentage of list price is 96.2%, which is down this time last year and last month. This negotiation tool is an indicator of how much of the list price homes are actually getting. Whether or not this (very minimal) change in pricing is due to a slow, dry winter or is lining up with the 2018 forecasts that higher priced properties will see a slow down in pricing, remains to be seen.
As far as inventory goes-new real estate in Tahoe Keys has decreased 10.8% while the amount of Tahoe Keys homes for sale has increased 14.7%. Pending sales have decreased 22.2% and closed sales are down 27%. The average days on market has gone up 8.6% at 139 but the median has gone down 14% at 92. The month supply is up 20% compared to this time last year at 6.6. This is also up from 6.4 just last month. For those that don’t understand month supply, this basically tells us what kind of market we are in. A balanced market needs 6 months, while anything less than 4 is considered a seller’s market. South Lake Tahoe as a whole is in a 3.5 month supply, but Tahoe Keys real estate has the extra inventory. Of course with the highest prices, these do not have the same demand as more affordable properties. If you are thinking of buying or selling in this neighborhood and are looking for a qualified Tahoe Keys realtor, give me a call. I would be happy to help!