Tahoe Keys Real Estate Update

Whether you are buying or selling Tahoe Keys homes for sale, knowing what the current market conditions look like are crucial to a successful Tahoe Keys real estate transaction. As a seller, pricing your Tahoe Keys real estate too high could result in your home sitting on the market and “growing stale”. This simply means that a home will sit longer than the desired period (which is usually considered to be about two weeks depending on the area) and buyers will stigmatize it as having something wrong with it. If you price it too low, you could leave money on the table. As a buyer, you want to be sure you are paying the market value. So how is Tahoe Keys real estate doing right now? Let’s take a look! 

Currently, both the median and average sold prices have gone down. It is important to note that real estate in Tahoe Keys currently has the highest sold price out of every other neighborhood on the California side and it still remains that way even given the slight decrease (between 5.5% to 6.6%). The current median sold price for Tahoe Keys homes for sale is $688,500 and the average is $759,510. Interestingly, while the sold prices have gone down, the closed sales have gone up 33.3% compared to this time last year. Pending Tahoe Keys homes for sale have also gone up 10.3%. The average days on the market has decreased by 5.1% at 129 while the median has gone up 12.4% compared to last year at 109. If you have been hearing about lack of inventory in the area and homes moving quickly, you may be perplexed with these numbers. It is important to note that even one property that took a while to close can throw these numbers off. The month supply is also down to 5.1 from last month AND last year which suggests that real estate in Tahoe Keys could be moving into a seller’s market for the first time in while. 

For more information on buying or selling real estate in Tahoe Keys, give me a call at 530-308-4331! 

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