Tahoe Keys Real Estate Market Update

Whether you are buying or selling a Tahoe Keys homes for sale, knowing what the current market conditions look like are necessary for a successful Tahoe Keys real estate transaction. As a seller, pricing your Tahoe Keys real estate too high could result in your home sitting on the market and “growing stale”. This term means that a home will sit longer than the optimal period (which is usually considered to be about two weeks depending on the area) and buyers can start to think of it as having something wrong with it. If you price it too low, you could leave money on the table. As a buyer, you want to feel confident you are paying the appropriate market value. So how is Tahoe Keys real estate doing this month? Let’s take a look! 

Currently, both the median and average sold prices have gone down. It is important to note that real estate in Tahoe Keys currently has the highest sold price out of every other neighborhood on the California side and it still remains that way. The current median sold price for Tahoe Keys homes for sale is down slightly 0.2% at $691,000 and the average is up 0.8% at $770,387. The closed sales have gone up 22.2% compared to this time last year. Pending Tahoe Keys homes for sale have also gone up 2.7%. The average days on the market has decreased by 9.4% at 126 while the median has gone up 10.1% compared to last year at 109. If you have been hearing about lack of inventory in the area and homes moving quickly, you may be perplexed with these numbers. It is important to note that even one property that took a while to close can throw these numbers off. The month supply is also down to 5.1 (this is a 22.7% drop) from last year which suggests that real estate in Tahoe Keys could be moving into a seller’s market for the first time in while. 

For more information on buying or selling real estate in Tahoe Keys, give me a call at 530-308-4331! 

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