Purchasing or listing homes for sale in South Lake Tahoe involve a lot of moving parts and nuances. If you are getting ready to start your journey of selling or buying South Lake Tahoe real estate, you have come to the right spot. The best way to get started is by connecting with a local, established, South Lake Tahoe realtor who knows the ins and outs of the market. We are able to provide details that contribute towards your success regardless of what side of the transaction you are on. When you know South Lake Tahoe real estate statistics such as the sold prices, month supply and days on market, you are able to craft a competitive strategy. The best way to get this information is from your realtor in South Lake Tahoe. These stats are updated monthly from the local MLS based on current activity. If you are looking to buy or sell, check out the below market report.
At the moment, the average sold price for homes for sale in South Lake Tahoe has increased from this time last year by 4.1% at $538,559. The median sold price for South Lake Tahoe homes for sale has gone up 4.7% from last year at this time at $450,000. The average percentage of list price is still sitting at 97.4%. Your South Lake Tahoe realtor can explain how to this number can be used, but in a nutshell, it determines your negotiation power. This particular number has remained unchanged for a few months now.
While sellers get good news with price increases, buyers get good news with inventory increases. Currently, the amount of homes for sale in South Lake Tahoe has increased 7% from last year’s 213 to 228 this year. New listings are also up 2.8%. Pendings have seen a slight increase of 0.5% while closed sales are down 3.2%. As far as time on market goes, the average and median days on the South Lake Tahoe real estate market are down from this time last year but still hovering around the same numbers as last month with a median of 75 and an average of 101. The month supply has increased 8.6% from last year at 3.8, which is the exact same as the past few months. This number is great for determining what kind of market we are in. A balanced market needs 6 months while anything less than 4 is a seller’s market.
It is important to note that this monthly market report is for the California side of South Lake Tahoe in general. If you are looking in the Tahoe Keys or Montgomery Estates, those neighborhoods each have their own set of market statistics. Be sure to chat with your South Lake Tahoe realtor if you have your eye on a certain area as those numbers will likely differ from this report. Have questions about real estate in South Lake Tahoe or looking for a realtor in South Lake Tahoe? Feel free to reach out.