South Lake Tahoe Real Estate Update

If you are thinking about listing or buying real estate in South Lake Tahoe this spring or summer, start off by understanding the local market conditions. Your South Lake Tahoe realtor can give you this information for the market as a whole, as well as the specific neighborhoods and areas you are interested in. These market reports can give you the details needed to help you figure out what type of offer to make and what type of offer to accept. The report below is for South Lake Tahoe real estate in general.

The average sold price for homes for sale in South Lake Tahoe is up 3.4% from this time last year at $551,985. This barely up from last month’s sold price of $551,379. The median sold price for South Lake Tahoe homes for sale is up 3.7% from last year at this time at $455,761. This number is also up very minimally from last month. The average percentage of list price is currently up 0.5% at 97.2%, which is down from last month by a small margin.

Buyers get good news thanks to the amount of South Lake Tahoe homes for sale going up 10.1%. New listings are down 3.3%. Pendings are down 4.1% while closed sales went down 5.8%. The average and median days on the South Lake Tahoe real estate market are currently sitting at 76 for the median and 98 for the average. The month supply went up 10.8% from last year and is currently at 4.1. A balanced market needs 6 months and anything less than 4 is considered a seller’s market. Have questions about South Lake Tahoe real estate or looking for a realtor in South Lake Tahoe? Feel free to reach out. I would be happy to help!

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