Tahoe Keys Real Estate Update

If you are listing or buying homes for sale in Tahoe Keys, knowing what the current market conditions are is incredibly important for success as both a buyer and a seller. As a buyer looking to purchase homes for sale in Tahoe Keys, knowing what is happening can help guide you on creating an offer that a seller will find attractive. When selling Tahoe Keys homes for sale, this information can be used as a tool to come up with a comparable list price that lines up with market value. You can also use details like how many days Tahoe Keys homes for sale are going from active to pending and what the percentage of list price is. The most accurate way to obtain this information is by using a Tahoe Keys realtor. When you use a qualified, experience Tahoe Keys realtor, you not only get an advocate and guide for your transaction and beyond, but they can provide valuable insight and knowledge that can be used for your benefit. So how is Tahoe Keys real estate doing? Let’s take a look!

The month’s report is actually quite interesting. For the past few months we have seen the average and median sold prices for homes for sale in Tahoe Keys go up. While they are up compared to this time last year, they haven’t changed much since last month. For example, the average sold price for Tahoe Keys real estate is up 14.2% compared to this time last year at $861,422. However, last month it was at $861,163 so the increase was very minimal. The median sold price for real estate in Tahoe Keys is up 14.2% at $789,000 compared to this time last year however last month it was actually $791,000. This is interesting because a majority of the neighborhoods in South Lake Tahoe have been going up when it comes to prices. The average percentage of list price is 96.2%. This is a great tool for negotiation as it indicates how much “power” you have when it comes to the offer price. This is also down compared to this time last year as well as last month. Whether or not this (very minimal) change in pricing is due to a slow, dry winter or is lining up with the 2018 forecasts that higher priced properties will see a slow down in pricing remains to be seen.

New real estate in Tahoe Keys is down 10.8% while the amount of Tahoe Keys homes for sale is up 14.7%. Pending sales are down 22.2% and closed sales are down 27%. The average days on market has increased 8.6% at 139 but the median is down 14% at 92. The month supply is up 20% compared to this time last year at 6.6. This is also up from 6.4 last month. A balanced market needs a 6 month supply and a seller’s market is anything less than 4. So while South Lake Tahoe’s month supply is 3.5 and in a sellers’ market, Tahoe Keys is experiencing a balanced market which means there are plenty of properties available. However, higher priced homes typically do not have the same demand as affordable properties. If you are thinking of buying or selling in this neighborhood and are looking for a qualified Tahoe Keys realtor, give me a call. I would be happy to help!

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