Whether you are buying or selling Lake Tahoe real estate this year, knowing the market conditions for your specific area yields incredibly useful insight. Details like average and median sold price, month supply and days on market can give you information that helps you gauge what makes a competitive offer to accept or bid. The best source for these numbers is your Lake Tahoe Realtor. We are able to pull a market analysis that is custom to you so you get an accurate picture. The below numbers are an overview of the California side of South Lake Tahoe. These numbers are in comparison to this time last year.
The average sold price for Lake Tahoe real estate is up 5.6% at $582,707. The median sold price is up 2.2% at $465,000. The percentage of list price has gone down 0.1% and is at 97.6%. Your Lake Tahoe Realtor can go over this number more in depth and what it means. Average days on market have increased 10.3% and are now sitting on the market an average of 107 days. Lake Tahoe homes for sale have increased 3.2% and pending Lake Tahoe homes for sale have increased 2.6%. New Listings have decreased slightly by 1.6% while closed sales have gone down 0.9%. The good news for buyers is the month supply is up 12.2%, though we are still hovering around a “Seller’s Market” territory with a 4.6 month supply. Anything 4 or less is considered a Seller’s Market while anything over 6 is considered balanced.
This report changes monthly and will look a little different for every neighborhood. For example, the average sold price for Tahoe Keys is $947,573 while the average sold price for Montgomery Estates is $612,035. If you are looking for a Lake Tahoe Realtor or more information on buying or listing Lake Tahoe homes for sale, feel free to contact me. I would be happy to help.