As your local Tahoe Keys realtor, I follow certain market trends each month. Being a long time, local realtor in Tahoe Keys, having my finger on the pulse of the market is incredibly important to me. I think it is crucial that Realtors have up to date and accurate information for their clients. This allows us to not only provide better guidance to them, but also it helps us with pricing and being able to give timelines and numbers based on median and averages for Tahoe Keys real estate. For February 2017, the local Tahoe Keys real estate market statistics are looking pretty good in most of the categories Tahoe Keys realtors follow. Check out this numbers.

Median Sales Price: $691,000 (up 19.1% compared to February of 2016)

Average Sales Price: $753,593 (down 1.2% compared to February of 2016)

Closed Sales: 89 (up 64.8% compared to February of 2016)

Percentage of original list price: 95% (up 0.2% compared to February of 2016) 

Pending Sales: 87 (up 52.6% compared to February of 2016)

Dollar Volume: $67,069,770 (up 62.9% compared to February of 2016)

Days on Market: 109 (up 18.5% compared to February of 2016)

Month Supply: 5.5 (down 25.7% from February of 2016)

Let’s discuss month supply really quick because this is important. Month supply is what determines the kind of market we are in. A month supply of 4 and under is a sellers market, which means the sellers have the control. Inventory is typically low and demand is high so prices go up, there are bidding wars and, ultimately, a lot of frustrated buyers. Anything over 4 is a buyers market. So while South Lake Tahoe in general is in a sellers market with a month supply of 3.5, Tahoe Keys real estate still has inventory. The price point is higher compared to the South Lake Tahoe median and average price, however there is still plenty of Tahoe Keys real estate available. If you are looking for a sought after neighborhood with a private beach, private pool, trails, public beaches, marina, private docks and fabulous walk-ability, lets talk. For information on buying or selling Tahoe Keys real estate, give me a call at 530-308-4331.