If you are thinking of buying or selling a home in the Lake Tahoe region, working with a Lake Tahoe Realtor is incredibly important for a successful experience. Someone who has their finger on the pulse of the market, knows the various neighborhoods and has proven experience is an invaluable resource regardless of the side of the transaction you are on. Additionally, they can provide details that help you as both a seller and a buyer. As a seller, you get hands on help with picking the right price point for your home based on comparable solds while leveraging your visibility with a variety of marketing tactics. As a buyer, they can help you understand where to best maximize your buying power, the areas that are a good fit for you as well as help you craft a competitive offer. One of the best ways to understand the current local market is by finding out key details like the average sold prices, inventory, days on market and more. Below I have detailed some of the key numbers we focus on when creating a custom market report for clients. An important note regarding the below is that this is for the California side of South Lake Tahoe real estate in general. Each neighborhood will have a slightly different set of numbers. The best way to get a custom analysis is from your Lake Tahoe Realtor.
The good news for sellers is that the average and median sold prices are both up. The average sold price for homes for sale in Lake Tahoe is up 8.8% at $593,245. The median sold price for homes for sale in Lake Tahoe is up 3.5% at $470,000. The percentage of list price is unchanged from this time last year at 97.1%.
As far as inventory is concerned, this month presents a mixed bag of results. The amount of homes for sale in Lake Tahoe went up 4.5%, while closed sales went down 2.1%, new listings were down 4.4% and pendings were down 0.1%. Days on market increased 8.8% and is now at 80 while the month supply went up 12.2% and is now at 4.6. Anything less than 4 is considered a seller’s market while anything over 6 is considered balanced.
For more information on real estate in the area, feel free to give me a call. As an established Lake Tahoe Realtor, I would be happy to help you navigate both the buying and selling process.