Every month, we post a monthly report for the South Lake Tahoe real estate market. As both a buyer and a seller, knowing what is happening can guide you in your quest for real estate success. When you use actual statistics from the MLS (Ask your South Lake Tahoe realtor), you can utilize details like average sold price, month supply and days on market to come up with a competitive strategy. Sellers can use this information to their benefit to figure out a list price that lines up with the current South Lake Tahoe real estate market values. Buyers can understand their position in the market and figure out how to craft an offer that stands out against the competition. To see what is happening in the current climate, check out the below numbers.
- The average sold price for homes for sale in South Lake Tahoe has increased 4.1% from this time last year and is now $538,559.
- The median sold price for South Lake Tahoe homes for sale has gone up 4.7% from last year at this time and is now at $450,000.
- The average percentage of list price is still sitting at 97.4% which it has been for the last couple months. Ask your South Lake Tahoe realtor how this number applies to you as a buyer or a seller.
- The amount of South Lake Tahoe real estate for sale is up 7% from last year’s 213 to 228 this year.
- New listings are up 2.8%. Pendings are up 0.5% while closed sales are down 3.2%.
- Both 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. The median is at 75 and the average is at 101.
- The month supply is up 8.6% from last year at 3.8, which is the exact same as the past few months. This number determines what kind of market we are in. A balanced market needs 6 months and anything less than 4 is considered a seller’s market.
A quick note in regards to this report. Each neighborhood has their own set of market statistics and this report is specifically for the California side of South Lake Tahoe in general. Every neighborhood that makes up the city of South Lake Tahoe has their own report. So while we may be in a seller’s market as a whole, Tahoe Keys for example, is in a buyer’s market. Montgomery Estates average sold price is over the one listed above. This is why it is important to work with a South Lake Tahoe realtor. They can give you a custom report on each area that you are interested in. Have questions about real estate in South Lake Tahoe or looking for a realtor in South Lake Tahoe? Feel free to reach out. Our team would be happy to help!