If you are looking at selling or buying homes for sale in Montgomery Estates, being aware of the current market conditions is a great way to achieve your real estate goals successfully. Montgomerey Estates real estate is a highly sought after neighborhood with one of the highest sold prices for the California side of South Lake Tahoe. With increased prices and high demand, it is crucial to choose a South Lake Tahoe realtor that knows what is happening in this popular neighborhood. They can educate you on stats like days on market and average sold price. These numbers give buyers and sellers an idea of what they should list their homes for sale in Montgomerey Estates at as well as what makes an enticing offer. Your South Lake Tahoe realtor will 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 Montgomery Estates homes for sale are both up compared to this time last year. The average is up 19.5% at $698,229 while the median is up 13.2% at $644,000. This numbers are not up just compared to this time last year, but also just this past month! The average percentage of list price is still sitting at 98.3%. This number is good to use as an indicator of your negotiation power. Unfortunately for buyers, the amount of Montgomery Estates homes for sale is down 7.7%. New Montgomerey Estates real estate listings have seen no change from last month while closed sales are down 41%. Pendings are also down 27.8%. 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 3.1 month supply. The plus side, is this number has actually gone up 14.8% compared to this time last year AND it is up from 2.8 just last month. 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 62 and the average sitting at 75. If you have your eye on this neighborhood, my recommendation is to not wait. With this area, sought after properties move FAST. I suggest working with a qualified Montgomery Estates realtor who can act as your advocate and guide you through the process of listing and buying in this neighborhood. If you have any questions, feel free to reach out. I would be happy to help!
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