South Lake Tahoe Real Estate Update

Whether you are listing or buying South Lake Tahoe homes for sale, or looking in a specific neighborhood, like Tahoe Keys or Al Tahoe, knowing the area’s market conditions can have a great impact on your South Lake Tahoe real estate experience. Whether you are a buyer or a seller, knowing the median and average sold prices, how long homes  for sale in South Lake Tahoe are sitting on the market and what the month supply is can help guide you. As a seller, you will know to list at a number that is appropriate for the market and as a buyer you have the resources to make a competitive offer. 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 South Lake Tahoe real estate doing? Check out the latest market report!

The good news for sellers is the sold prices for South Lake Tahoe homes for sale are up! The average is up 6.7% at $514,361. This is up from this time last year, but down compared to last month. The median has stayed the same from last month at $430,000. However, this is up 7.8% compared to this time last year. The median percentage of list price is up minimally at 0.4% at 98.1%. This has not changed from last month. This stat is a good indicator of how much negotiation power you have. Homes for sale in South Lake Tahoe are down 13.5% whereas new listings are up slightly at 2.6%. Closed homes for sale in South Lake Tahoe are barely up at .1%, but pending homes for sale in South Lake Tahoe are down 4.9%. The median days on market for South Lake Tahoe real estate is down 17.6% at 75, while the average is down 15.4% at 104 days. 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 until inventory can catch up with demand. If you are looking for real estate in South Lake Tahoe, or a South Lake Tahoe realtor, give me a call at 530-308-4331.

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