The Lake Tahoe Luxury real estate market is a nuanced market that is specific to each area of the lake and as a result, requires a Lake Tahoe Luxury Realtor that is well versed in high end properties. If you are planning on buying or selling a Luxury home in South Lake Tahoe, knowing the current market conditions is necessary. A Lake Tahoe Luxury Realtor will be the best person to provide a custom analysis as these homes do not pull their comps, or comparable solds, the same way an entry level home does. Below is the monthly report for homes priced at $999,000 and up on the South Shore, California side of Lake Tahoe.
Currently the average sold price for the Lake Tahoe luxury real estate market is up 19.6% at $1,692,140. The median, however, is down compared to the prior year at $1,245,000. The amount of luxury homes for sale in South Lake Tahoe has seen a 35.7% decrease compared to last year at this time. Closed sales in have gone up 9.8% while new luxury homes for sale in South Lake Tahoe have gone down 6.5%. Pending sales have seen an 8.2%. The month supply for Lake Tahoe luxury real estate is in a sellers market with a 2.2 month supply. The days on market is 120, which is not too far off from the average priced home in the area.
For more information from an experienced and qualified Lake Tahoe Luxury Realtor, feel free to give me a call. I specialize in luxury real estate and would be happy to provide information on our market.