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South Lake Tahoe Real Estate Update

It is another busy month in the world of Lake Tahoe real estate! If you are thinking of listing or buying homes for sale in Lake Tahoe, knowing the current market conditions is crucial. Sellers can use this information to understand how to best position and price their property while buyers get an idea of their buying power, how fast they have to move and how competitive they need to be. As we are still in a seller’s market with a 2.6 month supply, buyers are coming up against low inventory and high demand, which means now is not the time to come in with a low ball offer. Your Lake Tahoe Realtor can advise on how to best stand out from the crowd but here are a few quick facts to know.

The average sold price for homes for sale in Lake Tahoe are currently up 16.8% from this time last year. The median sold price for homes for sale in Lake Tahoe are up 12% from this time last year. The amount of new listings available is up 12.3% which is good news for buyers. However, before you get too excited, the amount of over all Lake Tahoe homes for sale is down 36.4%. Pending Lake Tahoe real estate is up 49.3% while closed properties are up 43.1%.

A quick note about this report: this is for South Lake Tahoe real estate in general. For a custom analysis on a certain town or neighborhood around the lake, give us a call. We would be happy to help!

South Lake Tahoe Market Report20202019
Number of Closed Residential Sales12288
Median Home Sales Price$532,000$475,000
Average Home Sales Price$679,770$582,069
Average List to Sale Ratio98.7%97.1%
Average Dollar Per Square Foot$394.94$369.48
Average Days on the Market96103
Month Supply2.74.7

Lake Tahoe, NV Real Estate Market Report

The Lake Tahoe, NV real estate market had some interesting notes in this month’s market report. For those thinking of buying homes for sale in Lake Tahoe, NV knowing the current marketing conditions is important. Sellers get an idea of what is a good list price based on current market values while buyers get an idea of what their purchasing power is.

When looking at the sold homes for sale in Lake Tahoe, NV we see that everything is up except for days on market. Home values have increased as well as the amount of sold properties. This is great news for sellers as it means NOW is a great time to make money on your investment at resale.

When looking at actives, we see that with only 26 homes for sale in Lake Tahoe, NV-the inventory issues are still very much present on the East shore. The average list price is currently $6,019,115 (whoa!) and the median is about half that at $3,300,000. This particular side of the lake is known for having higher price points.

When looking at pendings, we see that there were 40 Lake Tahoe, NV homes for sale in escrow. The average list price of these properties is $2,284,077. For condos, there were 19 sold with an average price of $890,079. There were 13 actives with an average list price of $756,346. There were 22 pending with an average price of $486,536.

For more information on Lake Tahoe, NV homes for sale, feel free to give us a call. We’d be happy to help.

Lake Tahoe, NV Real Estate Market Report20202019
Lake Tahoe, NV Real Estate Market Report20202019
# of Listings Sold 3016
Average Price$1,792,602$1,253,687
Median Price$1,200,000$871,750
Average Days On Market124167

Lake Tahoe, NV Real Estate Report

The demand for Lake Tahoe, NV real estate continues over on the East Shore. Not only are the sold prices for Lake Tahoe, NV homes for sale up by almost $2 million dollars from last month, the amount of sold Lake Tahoe, NV homes for sale are also up. This particular area of the lake is known for having higher price points compared to its South Shore neighbor and this month’s report definitely shows that. At the time this blog was posted, there were 44 active Lake Tahoe, NV homes for sale available with an average list price of $4,275,545 and a median days on market of 37. There were 101 pending Lake Tahoe, NV real estate properties with an average list price of $1,413,934. These numbers include both condos and residential homes.

It is important to note that with the increasing buyer demand, decreasing inventory and historically low mortgage rates, NOW is a great time to list. If you are in the market to buy Lake Tahoe, NV real estate, work with a local expert and be patient as they guide you through this competitive climate. For more information on homes on this side of the lake, feel free to give us a call. We’d be happy to help!

Lake Tahoe, NV Real Estate Market Report20202019
Lake Tahoe, NV Real Estate Market Report20202019
# of Listings Sold 4523
Average Price$3,078,942$771,434
Median Price$740,000$639,000
Median Days On Market10784

South Lake Tahoe Real Estate Update

Home prices continue to rise as the rush to buy homes for sale in Lake Tahoe continues. In looking at this month’s report, we are seeing the same trends of low inventory and buyer demand carry on thanks to remote learning and working allowing for people to move out of cities and suburbs. Let’s look at the numbers below….

The average sold price for homes for sale in Lake Tahoe are up 15.9% at $653,168 and the median sold price is up 6.4% at $500,000. These numbers are not only up from this time last year but also just last month. The average percentage of list price is up minimally at 97.8%, which means homes for sale in Lake Tahoe are getting pretty close to ask in most scenarios. Inventory wise, the amount of Lake Tahoe homes for sale are down 24.4%, the amount of closed sales are up 27.6%, the amount of pending properties are up 37.4% and the amount of new Lake Tahoe homes for sale are down 2.5%. The average days on market are sitting at 107 and the month supply is down 24.4% at 3.4. This means we are absolutely in a seller’s market, just as the news article have been saying.

If you are thinking of selling your Lake Tahoe real estate, there has never been a better time. If you are thinking of buying, make sure you choose someone who is well versed in our local industry, knows the local market and can guide you through the transaction process with ease. Those looking to purchase will need to be patient and understand that the current conditions are a little harder to navigate thanks to record low inventory, increasing values and the historically low mortgage rates creating so much demand. For more information on Lake Tahoe real estate, feel free to give our team a call. We would be happy to help!

South Lake Tahoe Market Report20202019
Number of Closed Residential Sales15770
Median Home Sales Price$500,000$470,000
Average Home Sales Price$653,168$563,793
Average List to Sale Ratio97.8%97.2%
Average Dollar Per Square Foot$376.74$362.04
Average Days on the Market107101
Month Supply3.44.5

North Upper Truckee 2nd Quarter Market Report

The North Upper Truckee neighborhood had another mixed report when comparing the 2nd quarter of 2020 to 2019. The amount of solds went down while the average and median sold prices went up. The days on market also went up while the percentage of list price went down.

N Upper Truckee20202019
Number of Sales2125
Median Sale Price$643,355$615,000
Average Sale Price $665,000$626,176
Median Dollar Per Square Foot$290.68$308
Days on the Market12086
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