If you are thinking of buying or selling in 2020, knowing the local South Lake Tahoe real estate market is crucial for a successful experience. Details like days on market, inventory amount, sold prices and more can guide buyers and sellers respectively. Buyers understand things like purchasing power and how competitive they need to be with their offer. Sellers can use these details as a guide for pricing while understanding buyer motivation. The best resource for this information is a South Lake Tahoe Realtor as we have the tools and resources to provide an accurate picture of what is happening locally and how that impacts you. To get an idea of the current market, check out the below notes.
The average sold price for South Lake Tahoe real estate is up 8.3% at $591,684. This is actually down slightly from last month. The median sold price for South Lake Tahoe real estate is up 4.6% compared to this time last year at $475,000. This is actually unchanged from last month though. The amount of South Lake Tahoe homes for sale has gone up 7.5%. Closed sales have gone down 1.4%, pending sales have gone down 0.4% and new listings have also seen a decrease of 5.4%. The average days on market have gone up 4% to 105. The month supply is also up 15% to 4.6. This tells us who has control of the market, as in whether or not it is a buyer’s market or a seller’s market. Anything 4 or less is consider a seller’s market while a 6-month supply indicates the market is balanced in both parties’ favor.
One thing to note about this report is that it is for South Lake Tahoe real estate in general. Each specific neighborhood is going to have their own micro market report with numbers that will likely differ from this. This is why it is so important to work with a South Lake Tahoe Realtor. For more information about listing or buying South Lake Tahoe homes for sale, feel free to reach out to me. I would be happy to help you.