South Lake Tahoe Real Estate Update

Thinking about purchasing or selling South Lake Tahoe real estate? You will want to get started by hiring an experienced, local South Lake Tahoe realtor. We act as your advocate as we guide you through the process so you can achieve your desired real estate goals. Once you have picked your realtor in South Lake Tahoe, the next step will be finding out the current South Lake Tahoe real estate conditions and understanding how they impact you. When you know details like days on market, average sold price and month supply, you stand to benefit a lot. As a seller, you gain knowledge on the appropriate list price for the current real estate in South Lake Tahoe. As a buyer, you understand what goes in to making an attractive offer. The best source for this information is from a South Lake Tahoe realtor. If you are wondering how the California side of South Lake Tahoe is doing, check out the below stats!

The average sold price for homes for sale in South Lake Tahoe have increased by 7.8% from this time last year at $530,818. The median sold price for South Lake Tahoe homes for sale has gone up 6.8% at $440,000. The median percentage of list price is 98%. If you want to know how to determine your negotiation power, use the percentage of list price. These details mixed with the expertise of your realtor in South Lake Tahoe are a great way to craft a competitive offer as a buyer.

The amount of South Lake Tahoe real estate has gone up slightly from last year’s 219 to 223 this year. New listings have increased 12.4%, pendings have increased 2.2% and closed sales have decreased 4.5%. Both the average and median days on the market are down from this time last year with the average being 100 and the median being 71. The month supply is up 5.7% from last year and is now at 3.7. A balanced market needs 6 months and anything less than 4 is considered a seller’s market, which we are currently in. However, this number has been steadily going up, which means hopefully the market will balance out a bit more so buyers can be satisfied.

It is important to keep in mind that this report is for real estate in South Lake Tahoe in general, but that each individual neighborhood has its own market that differs from this overall analysis. For example, the average sold price in Al Tahoe is lower than the number reported here, but the average sold price in Tahoe Keys is higher. If you want to find out how your current neighborhood is or have your eyes on a different neighborhood, your South Lake Tahoe realtor can help you with that. If you have any questions, feel free to reach out!

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