If you are interested in buying or selling Lake Tahoe real estate, knowing the latest market report is necessary. Especially with Covid-19 having such a huge impact on the economy and how real estate is operating, knowing what is happening is more important than ever. As a seller, you understand how quickly homes for sale in Lake Tahoe are moving, what the current values are and that helps you set your listing up to get the most attention from buyers. This in turn helps you understand what you need to do to attract a quick sale for the most money. As a buyer, you understand what your position and buying power is which helps you craft a competitive offer. While real estate is a constantly moving machine, the below numbers are what a Lake Tahoe Realtor looks at to help our clients navigate their goals for buying and selling.
The good news for sellers is that prices for homes for sale in Lake Tahoe are up 8.6% from this time last year and last month putting it at $593,266. The median sold price is unchanged from this time last year at $460,000. The average percentage of list price is 97%. Your Lake Tahoe Realtor will explain his number more in depth and how it impacts you. Average days on market are currently 111.
As far as inventory goes, the amount of homes for sale in Lake Tahoe is down 3.2%. The amount of pending properties is up by 1.8%, the amount of sold listings are down 4.1% and the number of new listings is down 4.6%. The month supply is up by 2.3% at 4.4. Anything under 4 is considered a seller’s market, while anything over 6 is considered balanced and anything over 8 is a buyer’s market. For more information on buying Lake Tahoe real estate or if you are looking for a Lake Tahoe Realtor, feel free to give me a call. I would be happy to help!