South Lake Tahoe Real Estate Update

When it comes to buying and listing homes for sale in South Lake Tahoe, the best thing you can do for yourself is finding out what is happening in the South Lake Tahoe real estate market and your local neighborhood specifically. Find out what the average sold price is, what the month supply is and how many days South Lake Tahoe homes for sale are going from active to pending. All of these details can benefit both transaction sides. As a seller, you know what your competition is selling at and you can price accordingly. Additionally, you get a good idea of how long you have until you will likely need to move. Even more reason to de-clutter and start packing! As a buyer, you have all the insider knowledge that can help you craft a great offer. Of course, the most important thing you can do is align yourself with a qualified South Lake Tahoe realtor. Not only can we give you this information first hand, but we act as your guide and advocate from start to finish and beyond. So how is our local market doing? Let’s look at the latest report.

The good news for those interested in listing homes for sale in South Lake Tahoe is that prices have gone up. Sold prices and median prices are both up. Not only that, but they are up from this time last year and just last month. The average sold price for South Lake Tahoe real estate has increased 5.7% and is now at $528,783. The median sold price for South Lake Tahoe homes for sale is up 7.1% at $439,000. Keep in mind, this is for 96150 as a whole. If you live in Tahoe Keys or Country Club Estates, the numbers will vary compared to Tahoe Sierra or Bijou 1&2.  This is why it is so important to work with an experienced South Lake Tahoe realtor who knows to look at the comparable sales in your immediate area. The best way to figure out your negotiation power is by using the percentage of list price. This tells you what percentage of the asking price homes for sale in South Lake Tahoe are getting. At the moment, this is at 97.%.

As far as inventory, South Lake Tahoe homes for sale are down 4.8%. New South Lake Tahoe real estate listings are up slightly at 8.5%, which is great news for buyers. Although, closed sales are down 4.8% along with pending sales, which are down 3.1%. We are definitely still in a seller’s market with a 3.6 month supply. A balanced market needs 6.

If you are looking for more information or need a South Lake Tahoe realtor to guide you through a buying or selling experience, feel free to give me a call. I would be happy to help!

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