South Lake Tahoe Real Estate Update

If 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. Each neighborhood within South Lake Tahoe represents it’s own mini market with numbers that vary compared to others. Knowing things like the median and average sold prices or how long homes  for sale in South Lake Tahoe are sitting on the market can help guide you as both a buyer and a seller. As a seller, you will have a good idea of what makes an appropriate market list price while a buyer will have the necessary resources to make a competitive offer. Aligning yourself with an experienced South Lake Tahoe realtor is also necessary, as the more informed you are, the better success you have. So how is South Lake Tahoe real estate doing? Check out the latest market report! 

As far as pricing goes, this report actually has some good news for both buyers and sellers. The good news for sellers is the sold prices for South Lake Tahoe homes for sale are up 6.3% compared to this time last year! The good news for buyers is that the average sold price is at $519,794 and has barely moved from last months number of $519,624.  The median has stayed roughly the same as last month at $429,000 for about the 3rd month now. The median percentage of list price is still at 98.2%. This stat is used as an indicator of how much negotiation power you have. Homes for sale in South Lake Tahoe are down 9.7% while new listings are up VERY slightly at 0.2%. Closed homes for sale in South Lake Tahoe are down at 4.6% while pending homes for sale in South Lake Tahoe are down 6.7%. The median days on market for South Lake Tahoe real estate is down 18.9% at 73, which is the exact same as last month. 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 and anything less than 4 is a seller’s market, which we are currently in. 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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