South Lake Tahoe Real Estate Update

Whether you are buying or selling South Lake Tahoe real estate, or looking in a specific neighborhood, like Tahoe Keys real estate, knowing the area’s market conditions can have a great impact on your South Lake Tahoe real estate experience. Regardless of what side of the transaction you are on, knowing the median and average sold prices, how long homes are sitting on the market and what the month supply is can help guide you. Of course, enlisting the help of a South Lake Tahoe realtor is also necessary, however, the more informed you are, the better. So how is real estate in South Lake Tahoe doing? Check out the latest market report! 

The good news for sellers is the sold prices for homes for sale in South Lake Tahoe are up! The average is up 9.1% at $516,621. This is about $200,000 less than Tahoe Keys real estate, which has the highest average and median sold prices on the California side of Lake Tahoe’s South Shore. The median is $430,000, which is up 10.3%. The median percentage of list price is up minimally at 0.4% at 98.1%. This stat is a good indicator of how much negotiation power you have. Homes for sale in South Lake Tahoe are down 15.3% whereas new listings have not seen any change at all. Not the greatest news for buyers, but at least there isn’t a decrease in this department. Closed sales are up 1.4%, but pending sales are down 3.4%. The median days on market for South Lake Tahoe real estate is 77, which is down 13.5%. The month supply is still down at 3.4. A South Lake Tahoe realtor looks for a 6 month supply in order to consider the market balanced. We are still in a seller’s market, which means buyers have their work cut out for them, for now anyway. If you are looking for real estate in South Lake Tahoe, or Tahoe Keys real estate, give me a call at 530-308-4331. 

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