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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

Monthly Lake Tahoe, NV Real Estate Report

If you are thinking of listing Lake Tahoe, NV real estate this fall, now is a great time! Inventory continues to remain low around the lake, and the U.S. it seems. The high demand for buyers leaving heavily populated areas thanks to remote work and learning has created an interest in rural, resort areas. Whether you are selling or buying Lake Tahoe, NV homes for sale, knowing what is happening in the market is a great way to get your journey started. Let’s look at the numbers…..

There were 27 solds for the month of October with an average sold price of $2,336,870. The median for these properties were $1,275,000 with days on market at 89. The amount of active Lake Tahoe, NV homes for sale available is 30 with an average list price of $6,084,333. Something to note is that properties on the East Shore tend to have a higher price point than homes on the California side of the South Shore. The average days on market for the active Lake Tahoe, NV homes for sale is at 38. Which means if you are a buyer, you have to move fast! When we look at the pending properties, there are currently 37 with an average list price of $2,387,621.

Knowing how quickly homes are moving, what the average selling prices are and how much inventory is available tells sellers what fair property values are while telling buyers the info they need to craft a competitive offer. If you are interested in buying or selling on this side, note that the above numbers are a general snapshot and that each neighborhood has their own micro report. For more information on Lake Tahoe, NV real estate, give us a call. Our team would be happy to help!

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

South Lake Tahoe Market Report

The South Lake Tahoe real estate market continues to carry on into what is usually considered our shoulder season. The average sold price for homes for sale in Lake Tahoe is up 17.7% at $671,367. The median sold price for homes for sale in Lake Tahoe has seen yet another increase from last month, and this time last year, up 10.5% at $525,000. The percentage of list price has risen 1.3% and is currently 98.3%. This particular number lets you know your purchasing power and your Lake Tahoe REALTOR can go over this more in depth with you.

As far as inventory is concerned, the amount of homes for sale in Lake Tahoe is down over 30%. This month’s report does have a bright spot for buyers though: The amount of new listings has seen an increase of 7.9% while the pendings have gone up 47.3% and the closed Lake Tahoe homes for sale have gone up 38.5%. Month supply is still low. We are at a 3 month supply, which means we are still very much in a seller’s market. This number has steadily gone down the last few months. If you are thinking of selling, trust us when we say: There is no better time than now to list! As a buyer, be patient and flexible but don’t overextend yourself. Listen to your chosen real estate professional as we work with your best interest at heart.

Now it is very important to note that this report is for the south shore of Lake Tahoe in general. Each part of the lake will have its own report and each neighborhood will also have their own report. These micro reports are how a Lake Tahoe REALTOR creates the custom analysis that tells Seller’s what their homes value is and what buyers can expect to pay for properties in the different areas. If you are thinking of buying or selling Lake Tahoe homes for sale, linking up with an established and experienced Lake Tahoe REALTOR is necessary for a smooth and successful experience.

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

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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