Monthly South Lake Tahoe Real Estate Update

Buying OR selling homes for sale in South Lake Tahoe? Welcome to an exciting process! No matter what side of the transaction you are on, you will want to get the process started off by educating yourself on the current market conditions. The best way to get started is by picking an experienced South Lake Tahoe realtor. Our role is to guide and advocate for you throughout the entire process. We start off by educating our clients on the South Lake Tahoe real estate market which is crucial for a successful experience.  When you use market stats you have great insight that will help you strategize. It is important to understand that each neighborhood within South Lake Tahoe real estate has its own set of numbers. So while the market report below is for the California side of South Lake Tahoe in general, other neighborhoods will have a different set of numbers. The best way to get this information is from a South Lake Tahoe realtor. So how is South Lake Tahoe real estate doing? Let’s take a look.

This month brings more good new for sellers as the average and median sold price is up compared to this time last year and last month. The average sold price for homes for sale in South Lake Tahoe is up 7.7% at $547,497. The median sold price for South Lake Tahoe homes for sale is up 4.9% at $450,000. The median percentage of list price is down a little bit at 97.8%. This number can be used to determine your negotiation power.  

As far as inventory goes, the amount of South Lake Tahoe homes for sale went up 6.5% from 215 last year to 229 this year. New listings have increased 5.3%, pendings have decreased 1.8% and closed sales have increased 3.6%. The median days on market is now at 74 and the average days on market is at 101. The month supply is up 11.8% at 3.8. To understand this number and its impact on the market, a balanced market needs 6 months and anything less than 4 is considered a seller’s market.

Have questions about buying or selling South Lake Tahoe real estate? Feel free to reach out. As a long time South Lake Tahoe realtor, I would be happy to help!

Speak Your Mind

*