Is your house priced to sell immediately? That is the big question when it comes to listing homes for sale in South Lake Tahoe. In most scenarios, homeowners want to sell quickly and for the most money. A lot of these sellers think that listing over market value is a great way to do that. They assume someone will love their property so much that they will bring a lower than list offer, the two parties will counter and then they will arrive at the desired sell price the homeowner originally wanted. Unfortunately, that plan generally backfires more than anything. With so many homes for sale in South Lake Tahoe, and more coming on the market, listing at the right price from the start is one of the most important things you can do. That, and working with a South Lake Tahoe Realtor who is qualified and experienced. Let’s look at the facts.
According to CoreLogic’s latest Home Price Index, home values have increased over 6% a year over the past two years. Good news for sellers, right? Yes, but across the U.S., prices have started to slow to 4.4% over the last 12 months. With prices on homes for sale in South Lake Tahoe increasing at a slower rate, this indicates that the market is starting to level out a bit. In fact, the current month supply for the South Lake Tahoe real estate market is at a 4.1. Anything less than 4 is a seller’s market and anything more than 6 is a buyer’s market. This tells us we are just over a balanced marker. It is important to note here real quick that is for South Lake Tahoe real estate in general and that individual neighborhoods and areas will have their own set of stats. In a balanced market, it is a lot harder to price even a little over market value with the hopes of leaving room for negotiation. This can cause buyers not to see your home as it is out of their search price maximum. A lot of sellers make the mistake of trying to get the attention of one buyer. And while that is the end game goal, pricing at fair market value creates more demand from multiple buyers which means you aren’t negotiating over the price because there is interest from more than one party.
If you are debating listing your South Lake Tahoe real estate for sale, meet with a South Lake Tahoe Realtor. We can help price your home appropriately for your neighborhood while simultaneously maximizing your exposure on the spring market.