If you have been paying attention to the U.S. Real Estate Market, you have probably noticed that the housing market is ever changing, which impacts who has control of the market and who stands to benefit more: buyers or sellers. Factors include mortgage interest rates, housing inventory, demand and price appreciation. Of course, no two markets are the same so while the U.S. trends are a good indicator of what is happening, it is best to find a South Lake Tahoe Realtor who can tell you what is happening in our local area.
South Lake Tahoe homes for sale have been appreciating in value consistently for a few years now. As a whole for the U.S., the average annual appreciation rate has nearly doubled since 2012. Experts forecast that the average annual appreciation rate will be closer to 3.2% over the next five years which is in line with a balanced market, historically of course. When a market balances out, it means that sellers need to be a bit more flexible in negotiations and can’t expect to sell their South Lake Tahoe homes for sale at a record speed and for more money than ask. While that is still the trend currently in pricier big city markets, our resort mountain market will differ. With mortgage rates still low and 2019 looking like it will have the strongest appreciation over the course of the next few years, NOW is the best time to sell if you are looking to gain the most at resale.
If you are thinking of listing South Lake Tahoe homes for sale, link up with your South Lake Tahoe Realtor and find out how the local market is doing and what comparable homes in your neighborhood are selling for. With home price appreciation not expected to accelerate again until 2023, 2019 is the best time to get the most ROI. For more information on South Lake Tahoe Real Estate, give our office a call!