South Lake Tahoe Real Estate Update

For those that are looking to buy or sell Lake Tahoe real estate, knowing the market conditions is a great place to get started. Currently, this region is still dealing with record low inventory, increasing home values and high demand. Sellers can use the below knowledge to better position their property to get multiple offers and the quickest sale for the most ROI while buyers can get an understanding of how to best utilize their purchasing power. Let’s look at the numbers as they stand currently…..

The average price for homes for sale in Lake Tahoe are up to $680,271. This is a 16.9% increase compared to this time last year. The median sold price for homes for sale in Lake Tahoe is up 12% at $532,000 compared to this time last year. The percentage of list price (which tells us what percentage of list price homes for sale in Lake Tahoe are getting) is up slightly at 98.1%. The amount of new Lake Tahoe real estate that is available is up 11.7% which is great news for sellers! The amount of overall Lake Tahoe homes for sale is down 36.7%. Pending sales have seen a 49.6% increase while the amount of sold properties is up 42.5%. The current month supply is down 42.6% and is sitting at 2.7. For the record, anything less than 4 is considered a seller’s market, which we clearly are very much in. For more information on listing or buying Lake Tahoe homes for sale, feel free to give me a call. I would be happy to assist you and provide my knowledge on the local market.

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