How “Location, Location, Location” Impacts Buyers & Sellers

If you’ve entered the South Lake Tahoe real estate market, either as a buyer or a seller, the average and median sold prices impact your ability to sell as well as your purchasing power as a buyer. You likely have also heard the South Lake Tahoe real estate saying “location, location, location”. When it comes to listing or buying homes for sale in South Lake Tahoe, where your property is located ties into the listing price. Comparable sold homes for sale in South Lake Tahoe can either decrease or increase in value based on where they are located. So many home owners will refer to Zillow’s automated value system or a similar home in an entirely different neighborhood and assume their South Lake Tahoe real estate will sell or need to be bought for the same price. This is why it is so important to work with a local, experienced South Lake Tahoe realtor. In today’s real estate market, prices for South Lake Tahoe homes for sale are appreciating quickly. Knowing what to list at for a seller prevents you from listing too high and sitting on the market too long. As a buyer, you know what areas to look at based on your budget.

Currently, the median sold price for South Lake Tahoe homes for sale is $440,000 while the average sold price for South Lake Tahoe homes for sale is a little over $538,000. The median sold price for California in general is $522,000 at the time this blog was published. The interesting part to this though is that these numbers are just a general snapshot for the entire area. In order to find out what the value of the South Lake Tahoe real estate is that you are either about to list or buy, you need to look at the neighborhood comps. Each neighborhood has its own market statistics. Tahoe Keys and Montgomery Sstates have a higher average and median sold price than South Lake Tahoe real estate in general. Meanwhile, Sierra Tract is lower. Working with a professional South Lake Tahoe realtor can help you understand how “location, location, location” applies to you. Value is often dictated by demand and not every neighborhood has the same demand. If you are about to buy or sell South Lake Tahoe real estate, reach out to a South Lake Tahoe realtor. They can let you know what exactly is happening in the neighborhood you live in or are hopefully about to live in. Have questions? Feel free to reach out and ask me!

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>