Buying or selling South Lake Tahoe real estate? You have come to the right place! As local, experienced professionals, we take great pride in helping our clients not only navigate the local South Lake Tahoe real estate market, but also act as their advocate from start to finish and beyond. Everyone begins their home buying and selling journey with a specific goal in mind. There are two ways that you can achieve those goals both seamlessly (as possible) and successfully. The first is choosing a qualified South Lake Tahoe realtor. Their market knowledge is so valuable and used to guide you towards success. The second is finding out how the local South Lake Tahoe real estate market is doing. Being educate on details like the average and median sold price for South Lake Tahoe homes for sale, days on market and month supply can give you fabulous insight that you can use to your benefit. For a buyer, you can understand your position in the market and what sellers are looking for in an offer. As a seller, you can use these details to gauge how long you can expect to be on the market as well as what is a market appropriate list price. The best place to get this info is from a South Lake Tahoe realtor. Below we have included a monthly market report with the most up to date information from the MLS. If you want to see how our local area is doing, take a look at the below.
The average sold price for homes for sale in South Lake Tahoe is up 7.8% from this time last year at $530,818. The median sold price for South Lake Tahoe homes for sale is up 6.8% at $440,000. The median percentage of list price is 98%. This number is a great tool for determining your negotiation power.
The amount of South Lake Tahoe homes for sale is up slightly from 219 last year to 223. New listings are up 12.4%, pendings are up 2.2% and closed sales are down 4.5%. Both the average and median days on the market are down from this time last year. The median is at 71 and the average is at 100. The month supply is up 5.7% from last year and is now at 3.7. A balanced market needs 6 months and anything less than 4 is considered a seller’s market, which we are currently in.
It is important to keep in mind that this report is for real estate in South Lake Tahoe in general, but that each individual neighborhood has its own market that differs from this overall market snapshot. For example, the average sold price in Montgomery Estates is $683,483 while Al Tahoe is $484,723. If you want to find out how your neighborhood or your desired neighborhood is doing, your South Lake Tahoe realtor can help you with that. Have questions? Feel free to reach out. Any one of our realtors in South Lake Tahoe would be happy to help!