South Lake Tahoe Real Estate Update

Whenever it comes to buying or selling homes for sale in South Lake Tahoe, understanding the current market conditions is absolutely necessary for success. With any investment or major purchase, most consumers do their research. South Lake Tahoe real estate should be no different. The good news is that if you choose a qualified South Lake Tahoe realtor, they do a lot of the legwork for you. You can use details like days on market, average and median sold price to your advantage as both a buyer and a seller. Each month the market changes a little bit, and these changes can impact both parties. Having a South Lake Tahoe realtor send that information takes out a lot of guess work as you know exactly what is happening with South Lake Tahoe real estate at any given time.  So how is the current market doing? Check out the numbers below.

The good news for sellers is that the average and median sold price for homes for sale in South Lake Tahoe have increased. The average sold price for South Lake Tahoe homes for sale has increased 2.8% at $534,038 while the median has gone up 3.7% to $445,530. The percentage of list price is down 0.4% at 97.4%. This number, in a nutshell, suggests what your negotiation power is. However, be sure to ask your South Lake Tahoe realtor how it impacts you.

As far as inventory goes, South Lake Tahoe homes for sale have gone up 9.1% at 228. The amount of new listings has gone up 2.9%, pending sales have decreased 3.6% and the closed sales have had a minimal increase at 0.4%. Days on market for South Lake Tahoe real estate is currently at a 74 for the average and 100 for the median. Month supply is also up 11.8% from this time last year at 3.8. This number tells us we are still in a seller’s market in general, but your South Lake Tahoe realtor can give you information on each specific neighborhood as the details do vary. For more information, feel free to give me a call. I would be happy to help!

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