If you are in the market to buy or list homes for sale in South Lake Tahoe, there are a few things that can help you start the process. The first is aligning yourself with a qualified and experienced South Lake Tahoe realtor. The next is getting an accurate market analysis for your town and your neighborhood. Details like days on market, average and median sold prices for homes for sale in South Lake Tahoe and month supply can help you as both a buyer and a seller. As a seller, you have all the info that helps you understand your position in the market place as well as what is a competitive list price. As a buyer, you understand your position in the market and can use this information to make an enticing offer. The best place to get this info? From a South Lake Tahoe realtor. So how is South Lake Tahoe real estate doing? Let’s look at the latest numbers!
The average sold price for South Lake Tahoe homes for sale is up 7.8% from this time last year at $530,818. The median sold price for homes for sale in South Lake Tahoe is up 6.8% at $440,000. The median percentage of list price is 98%. This number is a great tool for determining your negotiation power.
As far as inventory goes, the amount of South Lake Tahoe homes for sale is up slightly from 219 last year to 223. New listings are up 12.4%, pendings are up 2.2% and closed sales are down 4.5%. 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 71 and the average is at 100. The month supply is up 5.7% from last year and is now at 3.7. To put this in perspective, a balanced market needs 6 months and anything less than 4 is considered a seller’s market.
It is important to keep in mind that this report is for South Lake Tahoe real estate in general, but that each individual neighborhood has its own set of market stats. So real estate in Tahoe Keys is going to be different than Al Tahoe, and both those reports will have different numbers than this blog. If you want an accurate picture of your neighborhood or your desired neighborhood, your South Lake Tahoe realtor can put that together for you. Have questions? Feel free to reach out. I would be happy to help!
