Buying and selling South Lake Tahoe real estate is an exciting journey that should be made using up to date information from a local South Lake Tahoe realtor. Like any decision involving a major financial decision, we always do our research on what market values are, what the demand is and who has the upper hand. South Lake Tahoe real estate is no different. Buyers can benefit from knowing the current market conditions by understanding their buying power, who has control of the market, how fast homes for sale in South Lake Tahoe are moving and use this to craft a competitive offer. Sellers can use this knowledge to help price their home and figure out what their negotiation power is when accepting an offer or making a counter offer. So how is South Lake Tahoe real estate looking this month? Let’s check out the numbers.
The sold prices for homes for sale in South Lake Tahoe is up compared to this time last year. The average sold price for homes for sale in South Lake Tahoe is up 3.7% at $545,194 compared to this time last year. This number is down compared to just last month. The median sold price for homes for sale in South Lake Tahoe is up 5% at $453,900. This number is also down (albeit by $100) compared to just last month. The percentage of list price is down 0.8% at 97.1%. This number helps you determine your negotiation power. Your South Lake Tahoe Realtor can weigh in on this more. The median days on market is 74 and the average is 99.
As far as inventory goes, the amount of homes for sale is up 10.6%. The amount of pending sales is down 3.9% and the closed sales are down 4.2%. The month supply, which lets us know who has control of the market, is up 11.1% at 4. To understand this number a little better, a balanced market requires 6 months and anything less than 4 is considered a seller’s market. A quick heads up about this report: this is for South Lake Tahoe real estate as a whole. If you have your eye on certain areas or want a report on a specific neighborhood, the numbers will differ. Your South Lake Tahoe realtor can provide a custom analysis for the areas you need. If you need more information, feel free to reach out!
|South Lake Tahoe Market Report||2019||2018|
|Number of Closed Residential Sales||54||56|
|Median Home Sales Price||$453,900||$432,250|
|Average Home Sales Price||$545,194||$525,526|
|Average List to Sale Ratio||97.1%||97.9%|
|Median Dollar Per Square Foot||$330||$317|
|Average Days on the Market||101||99|