Buying and selling South Lake Tahoe real estate is an exciting journey that requires the expertise of an experienced South Lake Tahoe realtor. Like any major purchase or sale that we as consumers make, doing your research is key. Whether it is a car, a credit card or a blender off of Amazon, we always find out what the market value is so we can determine what is the best price to pay or sell. We also take a look at comparable products and what their prices are as well. South Lake Tahoe real estate is the same. When it comes to listing or buying homes for sale in South Lake Tahoe, knowing the current conditions is incredibly helpful. Details like days on market, average and median sold prices and month supply can help both buyers and sellers. Sellers will know what is an appropriate list price and how long they can expect to sit on the market. As a buyer, you will have the tools to craft a competitive offer with your South Lake Tahoe realtor. So how is this month looking? Let’s check out the market snapshot below.
Sellers get good news this month. The average sold price for homes for sale in South Lake Tahoe is up 3.5% from this time last year at $536,758. The median sold price for South Lake Tahoe homes for sale is up 4.6% from last year at this time at $449,700. The average percentage of list price is currently 97.4% which it was last month as well. Ask your South Lake Tahoe realtor how to use this number when determining what offer to make or accept depending on what side of the transaction you are on.
The amount of South Lake Tahoe homes for sale has increased 7.5% from last year’s 213 to 229 this year. New listings have gone up 2.9%. Pendings, however, have decreased 2.7% while closed sales are up 0.5%. Both the average and median days on the South Lake Tahoe real estate market have gone down from this time last year but are still hovering around the same numbers as last month at 74 for the median and 100 for the average. The month supply has increased 11.8% from last year at 3.8, which is still the exact same as last month. This number determines what kind of market we are in and currently, we are in a seller’s market. This market report is for South Lake Tahoe in general. If you want a tailored report for a certain neighborhood, it will likely differ a bit. Chat with your realtor in South Lake Tahoe about getting a comparable market analysis. Have questions about South Lake Tahoe real estate or looking for a realtor in South Lake Tahoe? Feel free to reach out. I would be happy to help!
Footer
