Thinking of listing or buying homes for sale in South Lake Tahoe? You have come to the right spot! One of the best ways you can prepare yourself for the South Lake Tahoe real estate market is by educating yourself on the current conditions. Details like average sold price, days on market and percentage of list price are of great benefit to both buyers AND sellers. As a buyer, you can utilize this info to make a competitive offer on South Lake Tahoe homes for sale. As a seller, you can price according to the local comparable sales and get an enticing offer AND a fast sale. The best way to get this information is from a South Lake Tahoe Realtor. We have resources at our disposal that are continually being updated. We use these details to guide our buyers and sellers towards a successful South Lake Tahoe real estate experience. So how is the current market looking? Let’s take a look!
Both the average and median prices for South Lake Tahoe homes for sale have increased compared to this time last year! The median is up 7% at $429,000. However, while this is up from January 2017, this is actually the same from last month. Meanwhile, the average is up from this time last year by 6.4% at $520,117. This is up very minimally compared to last month. This is good news for seller’s looking to list their South Lake Tahoe homes for sale. While you should consult your South Lake Tahoe realtor, most home values are up which usually results in more money at resale. The median percentage of list price has increased slightly from last year by 0.5% with homes for sale in South Lake Tahoe getting 98.2% of list. Percentage of list price is a great tool that allows you to gauge your negotiation power. The bad news for buyers is that available South Lake Tahoe real estate is down 10.2%. New listings are up slightly at 0.2%, which is good news for buyers. Closed sales have seen a small 4.9% decrease while pending sales are down 6.6%. The median days on market is 73 and the average days on market is 102. Both of these numbers are down compared to this time last year but the same as last month. Month supply is at 3.5. We have been at this month supply for the past few months. A balanced market needs a 6 month supply and anything under 4 is considered a sellers market, which we are definitely in currently. Whether this report indicates a more balanced market on the horizon or simply the lull of the season remains to be seen. Whether you are looking for more information on the market, or a South Lake Tahoe realtor, give me a call. I would be happy to help!
