When it comes to buying and selling South Lake Tahoe homes for sale, you will want to make sure you choose a South Lake Tahoe realtor who is professional, experienced and can guide you through the process from start to finish. Both aspects of South Lake Tahoe real estate have their own set of nuances and details that can make or break your experience. As a seller, you want to make sure your home has been adequately prepared for the market. This means that you will need to clean, repair, declutter and spruce up for the marketing that is about to take place. You will also want to make sure you list at a price that is appropriate for the market. This ensures that you reduce your time on market and can attract a serious buyer in record time. As a buyer, you will need the tools to put together a competitive offer that stands out in the crowd. The best way to achieve these South Lake Tahoe real estate goals as a buyer or a seller is by finding out what exactly is going on the market. Knowing details like days on market, month supply and average and median sold prices for homes for sale in South Lake Tahoe can guide both parties in making informed decisions. Once again, the best way to get this information is from a South Lake Tahoe realtor. So how is the South Lake Tahoe real estate market doing? Let’s take a look!
We have good news for sellers! The average sold price for homes for sale in South Lake Tahoe has increased 8.2% from this time last year at $538,917. The median sold price for South Lake Tahoe homes for sale is up 5.3% from last year (This number has actually remained unchanged from the past couple months) at this time at $440,000. The median percentage of list price has increased 98%. This number is great to use as a tool for determining your negotiation power when it comes to making or accepting an offer on South Lake Tahoe homes for sale.
The amount of homes for sale in South Lake Tahoe has increased just a bit from 216 last year to 225 this year. The good news for buyers is that new listings have gone up 15.4%, pendings are up 4.2% and closed sales are up 1.5%. Both the average and median days on the market have decreased from this time last year. The median is at 72 and the average is at 102. The month supply is still at 3.7, but that number is up 8.8%. To understand this number, South Lake Tahoe realtor’s look for a 6 month supply in order to be considered balanced, while anything less than 4 is a seller’s market.
It is important to understand that these numbers are for homes for sale in South Lake Tahoe in general. If you have a specific neighborhood you need a market update for or are looking in certain areas, these numbers will vary. Depending on the neighborhood, it could vary A LOT or barely at all. Once again, the best place to get this info is from a realtor in South Lake Tahoe as we use up to date stats from the local MLS. Have questions about real estate in South Lake Tahoe? Feel free to reach out. Our team of realtors in South Lake Tahoe would be happy to help!