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 Report||2020||2019|
|Number of Closed Residential Sales||122||88|
|Median Home Sales Price||$532,000||$475,000|
|Average Home Sales Price||$679,770||$582,069|
|Average List to Sale Ratio||98.7%||97.1%|
|Average Dollar Per Square Foot||$394.94||$369.48|
|Average Days on the Market||96||103|