The South Lake Tahoe Real Estate market is about to spring forward and we are gearing up for a busy season. If you are thinking of selling or buying homes for sale in South Lake Tahoe the next few months, you will want to do two things to get started: 1) Align yourself with a South Lake Tahoe realtor. 2) Find out what is happening in the South Lake Tahoe real estate market in general as well as the neighborhood you are looking in or are planning on selling in. Sellers can use market conditions to find out what a good sold price is. This gets more attention from prospective buyers and hopefully more offers and a faster sell time. Buyers can use this information to find out what their budget will buy them, how quickly properties are selling and what their position in the market is. Below are the current numbers.
The sold prices for homes for sale in South Lake Tahoe is up compared to this time last year. The average sold price for homes for sale in South Lake Tahoe is up 4.2% at $552,008. The median sold price for homes for sale in South Lake Tahoe is up 3.6% at $455,000. Percentage of list price is down to 97.2%. Your South Lake Tahoe Realtor can weigh in on this number more. The median days on market is 73 and the average is 97.
As far as inventory is concerned, the amount of homes for sale is up 11%. The amount of pending sales is down 5.1% and the closed sales are down 4%. The month supply, which lets us know who has control of the market, is up 13.9% at 4.1. To understand this number a little better, a balanced market requires 6 months and anything less than 4 is considered a seller’s market. A quick heads up about this report: this is for South Lake Tahoe real estate as whole. If you need a report for a specific area, your South Lake Tahoe realtor can provide a custom analysis as it will likely differ from the above numbers. If you need more information, feel free to call our office.