South Lake Tahoe Real Estate Update

Whether you are listing or buying South Lake Tahoe homes for sale or looking in a specific neighborhood, knowing the area’s market conditions can have a huge impact on your South Lake Tahoe real estate success. Just knowing the median and average sold prices or how long homes  for sale in South Lake Tahoe are sitting on the market for 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. Linking up with a South Lake Tahoe realtor is also necessary, as 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 at 7.3%! The average is at $519,624, also up from last month. The median has stayed roughly the same as last month at $429,000. The median percentage of list price is still 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 11.7% while new listings are down slightly at 2.1%. Closed homes for sale in South Lake Tahoe are down at 2.1% while pending homes for sale in South Lake Tahoe are down 8.7%. The median days on market for South Lake Tahoe real estate is down 18.9% at 73, while the average is down 14.9% at 103 days. The month supply is still down at 3.5. 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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