The South Lake Tahoe real estate market had mostly good news when comparing April 2017 to April 2016. Almost everything had increased compared to last year with a few exceptions. The closed sales were up by 4.4%. The median sold price was up by 13.9% (up from last month AND last year) and the average sold price was up 10%. If you have been thinking of listing your South Lake Tahoe real estate, chances are the amount you can sell for will be more compared to last year. The percentage of list price went up very little. This is the average amount of the home’s listing price that was received. Days on the market decreased by 3.3%. Inventory is currently pretty tight, so serious buyers are keeping a close eye on listings and making offers as soon as possible. Month supply, which determines what type of market we are in, went down 30.6%. Anything under 4 is considered a sellers market while anything over is considered a buyers market. This is great news for sellers as it means they have control of the market because supply is low and demand is high which means they can list their home for more money compared to a year ago. Buyers, however, have their work cut out for them a little more. For more information on South Lake Tahoe real estate, give us a call.
| South Lake Tahoe Market Comparison | 2017 | 2016 |
|---|---|---|
| Number of Sales | 756 | 724 |
| Median Home Price | $410,000 | $360,000 |
| Average Home Price | $492,091 | $447,441 |
| Average List to Sale Ratio | 97.9% | 97.4% |
| Average Dollar Per Square Foot | $290 | $292 |
| Days on the Market | 88 | 91 |
| Month Supply | 3.4 | 4.9 |
