If you are thinking of listing or buying homes for sale in Lake Tahoe, knowing what is happening locally is important for both sides. While we are in a seller’s market with limited inventory, pricing according to market value is the best way to get an offer quickly and for the most money at resale. As a buyer, knowing the market values and how fast homes for sale in Lake Tahoe are getting offers is a great way to create a competitive offer that stands out against other qualified buyers. The best, and most accurate, way to get this information is from a Lake Tahoe Realtor. Let’s look at this month’s round up…..
The average sold price for homes for sale in Lake Tahoe is currently up 17.7% from this time last year at $671,622. The median sold price for Lake Tahoe homes for sale is up 10.5% at $525,000. The percentage of list price is up slightly 1.3% at 98.3%. Home values going up isn’t the greatest news for buyers because it means some people can be priced out of the market. The other not so great news for buyers is that the amount of overall available Lake Tahoe homes for sale has gone down 30.9% from this time last year. Now there is still some good news for buyers! The amount of NEWLY LISTED homes available has increased 7.8%. Closed sales are up 38.7% and pending sales are up 47%. The month supply is still down 34.8% and we are at a 3 month supply. Anything 4 and under is considered a seller’s market so buyers will still need to move competitively and work closely with their Lake Tahoe Realtor as they navigate the increasing values and limited inventory.
This report is just for the South Shore of Lake Tahoe. Each area and each neighborhood around the lake has their own micro report. For example, the average sold price for Tahoe Keys homes is almost double the number listed above. Currently, it is $1,059,151. Al Tahoe is currently up 90% at $1,011,647. Highland Woods is $512,813. Bijou Pines is $571,250. These 4 neighborhoods are all considered desirable areas in the city limits with their own amenities, yet you can’t live in Bijou Pines and expect to list at a Al Tahoe price point even though these two areas are just across the HWY from one another. For a custom analysis of your neighborhood or areas you are interested in, feel free to give me a call. As a Lake Tahoe Realtor, I would be happy to walk you through what is happening.