Whether you are listing or buying homes for sale in South Lake Tahoe, being informed on the current conditions can go a long way in your success. Knowing the average and median sold price, along with percentage of list price, days on market and more can guide you as both the buyer and the seller. Buyers will get an idea of how much they will spend and seller’s can come up with that “magic listing number”. Of course, as a long time local South Lake Tahoe realtor, choosing a qualified realtor is incredibly important. This is the person who will be guiding you throughout the entire process, and in a lot of situations, after. A qualified South Lake Tahoe realtor not only acts as your advocate, they also educate you on every aspect. You need someone who is honest, informed and at the end of the day has your best interest at heart. So, how is the local South Lake Tahoe real estate market doing? Let’s take a look!
Good news for sellers is that the average and median sold price has gone up. The average sold price for homes for sale in South Lake Tahoe is up 6.7% at $514,582 and the median sold price for South Lake Tahoe real estate is up 7.8% at $430,000. Percentage of list price (your negotiation power) is up minimally at 98.1%. Homes for sale in South Lake Tahoe are down 13.5%, which is not great news for buyers. However, new listings are up (albeit, not by much) 2.6%. Pending South Lake Tahoe real estate sales have seen a slight decrease at 4.7% and closed sales have seen no change. The median days on market are just 75. The decreases in some of these categories while prices continue to go up is par for the course with a seller’s market. Which we are still in with a 3.4 month supply. A balanced market needs 6 months and anything under 4 is considered a seller’s market.
If you are thinking of listing or buying South Lake Tahoe real estate and need a South Lake Tahoe realtor, give me a call. I would be happy to help!
