South Lake Tahoe Real Estate Market Update

If you are buying or selling South Lake Tahoe real estate, knowing the current market conditions are crucial for success. As a seller, knowing your home is priced according to market  value can make a quick sale. As a buyer, you know you are getting South Lake Tahoe real estate for a fair price. Underselling or overpaying are two concerns for both parties. So how is South Lake doing currently? Let’s take a look! 

The good news for sellers is that both the median and average sold prices have gone up. The median has gone up 16.3% and is currently $429,000 while the average has gone up 14.5% and is at $510,491. The percentage of list price has also seen a slight increase, although less then 1%, so not a substantial gain. Closed sales have decreased by 6.3% while new listings have gone down 1.1% and pendings have gone down 8.2%. This isn’t great news for buyers as this confirms that South Lake Tahoe real estate, as a whole, is definitely in a seller’s market and inventory is still a concern for buyers. The current month supply is sitting at 3.4 which is down a little over 22%. In order for a market to be considered balanced, it does need a 6 month supply. Now if you are a buyer looking to get into the South Lake Tahoe real estate market, it is crucial that you work with a qualified South Lake Tahoe Realtor. A South Lake Tahoe realtor who has been in the business a long time has connections, experience and knowledge that is so incredibly valuable to your real estate experience. They can inform you of homes that are coming on the market, giving you a first shot to take a look and make an offer. Additionally, they can advise on a good price (for listing and an offer), educate you on the process, navigate negotiations and so much more. If you are looking for a long time, local South Lake Tahoe realtor, give me a call! I would be happy to help you buy or sell. 

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