South Lake Tahoe Real Estate Report

Buying & listing homes for sale in South Lake Tahoe has multiple variables. If you are thinking of doing either, or both, you will need to get educated on the current market conditions. Knowing what is happening in the South Lake Tahoe real estate market helps both parties make strategic and smart decisions in how they approach buying or selling South Lake Tahoe homes for sale. The average and median sold price will guide a seller on pricing appropriately for the market, which keeps their home from sitting too long and growing “stale”. A buyer can use this information to compare their budget with the current market values. This is also helps to narrow their search as they find homes for Sale in South Lake Tahoe that match their needs and are within their price range. Details like days on market, month supply and percentage of list price are all great tools that your realtor in South Lake Tahoe can help you understand and benefit from. If you have not yet found a realtor in South Lake Tahoe, you will want to do that first to get started. Not only do we act as your guide and advocate throughout the entire process, we help you make strategic decisions that help you achieve success. It IS important to know that the below report is only for South Lake Tahoe real estate in general. Each neighborhood has their own report, so if you have your eye on a specific area, the numbers will be different. Once again, your South Lake Tahoe realtor will be able to give you a market analysis for each area that you are interested in.

 

The good news for sellers is that the average sold price for homes for sale in South Lake Tahoe has increased 5.9% from this time last year and is now at $540,495. The median sold price for South Lake Tahoe homes for sale has increased 4.7% from last year at this time and is now at $449,000. The median percentage of list price is still at 97.9%. This number has seen no change compared to this time last year. To understand the importance of this stat, it is a great tool to use when trying to determine your negotiation power when it comes to making and accepting an offer. Your South Lake Tahoe realtor will be able to further guide you with this one.

 

The good new for sellers is that the amount of South Lake Tahoe real estate is up slightly from 216 last year to 228 this year. New listings are also up 6.9%, pendings have increased 2.6% and closed sales are up 2.3%. Both the average and median days on the South Lake Tahoe real estate market are down from this time last year which means homes for sale in South Lake Tahoe are accepting offers quicker. The median is at 72 and the average is at 101. The month supply has increased 5.7% from last year at 3.7. This number has actually remained the same for the past couple months though. To understand what a month supply is, a balanced market needs 6 months and anything less than 4 is considered a seller’s market. Your South Lake Tahoe realtor can help you understand the importance of month supply and how it impacts you in your buying and selling journey.

 

For more information on real estate in South Lake Tahoe, feel free to give me a call. I would be happy to help!

South Lake Tahoe Real Estate Update

The monthly market report is in! If you are purchasing or selling homes for sale in South Lake Tahoe, there are a few things you will want to do to get started. Before you do anything, align yourself with an experienced South Lake Tahoe realtor. We act not only as your advocate, but also your guide, from start to finish and beyond whether you are selling or buying. Once you have chosen a professional you trust, ask them for a detailed market report not only for South Lake Tahoe real estate in general, but your neighborhood and or the neighborhoods you are most interested in. If you have picked a qualified pro, chances are high they will give you this info right off the bat. But if not, using up to date details like average and median sold price, days on market and month supply can guide you regardless of what side of the transaction you are on. As a seller, you can rest assured you list your real estate in South Lake Tahoe at a market appropriate price while a buyer can feel confident they put together a competitive offer. So how is Lake Tahoe real estate doing? Let’s look!

The average sold price for homes for sale in South Lake Tahoe has increased 8.2% from this time last year at $538,917. The median sold price for South Lake Tahoe homes for sale is up 5.3% from last year (although unchanged from the past couple months) at this time at $440,000. The median percentage of list price has increased 98%. This number is great to use as a tool for determining your negotiation power when it comes to making or accepting an offer on South Lake Tahoe homes for sale.

The amount of South Lake Tahoe homes for sale has increased slightly from 216 last year to 225 this year. New listings have gone up 15.4%, pendings are up 4.2% and closed sales are up 1.5%. Both the average and median days on the South Lake Tahoe real estate market are down from this time last year. The median is at 72 and the average is at 102. The month supply is still at 3.7, but that number is up 8.8%. To understand this number, South Lake Tahoe realtor’s look for a 6 month supply in order to be considered balanced, while anything less than 4 is a seller’s market.

It is important to understand that these numbers are for real estate in South Lake Tahoe in general. If you have a specific neighborhood you need a market update for or are looking in certain neighborhoods, these numbers will likely vary. Once again, the best place to get this info is from a realtor in South Lake Tahoe as we use up to date stats from the local MLS. Have questions about real estate in South Lake Tahoe? Feel free to reach out. I would be happy to help!

South Lake Tahoe Real Estate Update

If you are getting ready to list or buy homes for sale in South Lake Tahoe, knowing the state of our current South Lake Tahoe real estate market can make or break your experience. In fact, whether you are a buyer or a seller, you stand to benefit from knowing this information regardless of what side of the transaction you are on. As a buyer, you understand what sellers are looking for and can use that to craft a competitive offer. As a seller, you have the inside info to prepare your listing appropriately as well as choose a market appropriate list price. The most accurate way to get this information is from a South Lake Tahoe realtor. As a long time, local realtor, I use the local multiple listing service to ensure our reporting is up to date and accurate. So how is our local area doing? Let’s take a look!

Good news for those interested in putting their homes for sale in South Lake Tahoe on the market! Sold prices are up, for both the median and the average. Not only are they up from this time last year, but they are up from just last month! The average is up 8% at $536,325. The median is up 9% at $445,000. Keep in mind these prices are for South Lake Tahoe in general. Each neighborhood has their own market report so the stats vary from area to area. This is why it is always important to chat with your South Lake Tahoe realtor.  Just because your friend’s house is similar and listed for a certain number in Montgomery Estate doesn’t mean your home in Stateline will fetch the same number.

As far as inventory levels go, homes for sale in South Lake Tahoe are down 1.3% at 220 from last years 223. New listings are up 9.8%, which is great news for buyers. Although, closed sales are down 5.2% along with pending sales, which are down 2.8%. Our current month supply continues to inch up. We are at a 3.7 month supply. Anything less than 4 is a seller’s market and a balanced market needs 6. We are currently in a seller’s market. When it comes to figuring out your negotiation power, I recommend finding out the percentage of list price. Currently, that number for our area, is 97.%

Whether you are looking for more information on South Lake Tahoe real estate, or need a South Lake Tahoe realtor, give me a call. I would be happy to help you navigate out current market!

North Lake Tahoe Real Estate: 1st Quarter Market Report 2017

When looking at the stats for North Lake Tahoe real estate, it is important to note that these numbers do not include the West Shore, Squaw Valley, Truckee and Northstar and Tahoe Donner.

The first quarter showed there were about the same amount of homes sold while the dollar amount of the total solds did decrease. While the amount of homes sold stayed roughly the same, the average sold AND median sold price  went up. Which is great news for sellers. This means they likely get more money at the time of resale compared to last year. On the other side, this means buyers will also have to spend more compare to last year. The days on the market also saw a little bit of an increase, but minimally. While this particular side of the lake is known for a higher price point, this month’s highest sale was between $3,000,000 – $4,999,999 while this time last year saw the highest sale between $5,000,000 – $7,999,999. When looking at some of the other stats for the communities we didn’t include (mentioned above) on this side of the lake, all of them saw a dip in active listings, solds, etc. I am going to chalk it up to this crazy winter we have had. Snow and road closures make it hard to get to listings so I am keeping an eye on the numbers as it starts to warm up. For more information on North Lake Tahoe real estate, give me a call. 

North Lake Tahoe Real Estate Market Report 2017 2016
North Lake Tahoe Real Estate Market Report 2017 2016
# of Listings Sold 31 33
Average Price $745,168 $715,340
Median Price $625,000 $520,000
Days On Market 113 93

Lake Tahoe, NV Real Estate: 1st Quarter Market Report 2017

If you are looking to purchase Lake Tahoe, NV real estate, the numbers for the first quarter are in and the results are looking pretty good.

The number of sales is higher this year compared to last year. Also good news is that both the average and median price for Lake Tahoe, NV real estate have gone up by a pretty impressive amount. If you are buying real estate in Lake Tahoe, NV this means you are looking at higher prices compared to the past few years. If you are selling real estate in Lake Tahoe, NV, this simply means you likely will get more at the time of resale. 

The dollar per square foot has also gone up. The list to sale price (the percentage of the list price the home is receiving) has dipped a little bit, but nothing significant. Speaking of decreases, the median days on the market has also dropped compared to last year. On the day this blog was published, there were 72 active Lake Tahoe, NV real estate listings with a median price of $1,987,500 and 13 homes were in escrow with a average price of $1,539,030. For more info on buying real estate in Lake Tahoe, NV, give us a call as I would be happy to help! 

LAKE TAHOE, NV MARKET COMPARISON 1ST QUARTER 2017 1ST QUARTER 2016  
# of Sales 117 101  
Median Price $850,000 $670,000  
Average Price $1,345,546 $958,004  
Sale to List % 94.3% 94.6%  
Median Days on Market 158 170