If you are thinking of buying or selling South Lake Tahoe real estate, knowing the current market conditions can help immensely, regardless on whether you are the buyer or the seller. As the seller, you can rest assured that pricing your real estate in South Lake Tahoe is inline with current market conditions. If it is overpriced, you risk it sitting on the market and growing “stale”, while if you under price in the hopes of starting a bidding war, you could leave money on the table. Knowing this info also gives you a heads up on how long days are sitting on the market, the percentage to list price, homes for sale, etc. While every home for sale in South Lake Tahoe is different, knowing the market conditions gives you a heads up of what to expect. The same goes for buyers. They can be prepared for what to expect as far as cost goes, what their negotiation power is, etc. These details are why it is so important to work with a qualified South Lake Tahoe realtor. We utilize a tool from the local MLS that gives us all the details based on actual South Lake Tahoe real estate that has been listed or recently sold. So how is the local real estate in South Lake Tahoe doing? Let’s take a look!
The average sold price for real estate in South Lake is up 12.8% at $518,811 while the median is up 11.7% at $430,000. The median percentage of list price is up 0.4% at 98%. This information is helpful as it indicates how much negotiation power you have with the offer. The amount of homes for sale in South Lake Tahoe has actually decreased by 16.6%. The closed sales have gone down 2.1% while pending sales have gone down 2.9%. New listings have gone up slightly at 0.1%, which is good news for buyers as South Lake Tahoe real estate is still in a seller’s market. We currently have a month supply of 3.4 and in order to be balanced, South Lake Tahoe realtors look for a 6 month supply. The median days on the market for homes for sale in South Lake Tahoe is 81. This is the time that real estate in South Lake Tahoe goes from active to accepting an offer. If you are looking for a South Lake Tahoe realtor to help you navigate the South Lake Tahoe real estate market, give me a call. I would be happy to help!
