Summer is in full swing and a lot of sellers and buyers look to warm weather months to list or buy. While South Lake Tahoe real estate is a second home resort market and we don’t operate like typical major cities or suburban areas, the way to get started is all the same: By finding out the local market conditions from your South Lake Tahoe Realtor. Regardless of selling or buying homes for sale in South Lake Tahoe, details like month supply, average sold prices and days on market are beneficial to both parties. It gives both an idea of their position in the current market as well an idea of what is needed to make an offer, or what makes a good offer to accept. If you are thinking of listing or buying homes for sale in South Lake Tahoe, look below at the categories we follow and let us know if you have any questions.
Average and median sold prices for homes for sale in South Lake Tahoe are up (very minimally) compared to this time last year. Average sold prices are up 1.1% at $546,669 and median sold prices are up 1.4% at $455,500. The average percentage of list price is still hovering around 97.3%, which your South Lake Tahoe Realtor can weigh in on more. The month supply is up 13.2% at 4.3. This is good news for buyers as it indicates an increase in inventory. This is a wonderful number to know as it tells us who is in control of the South Lake Tahoe real estate market: buyers or sellers. To understand this better, anything less than 4 is a seller’s market while anything over 6 is considered balanced. Speaking of inventory, the amount of South Lake Tahoe homes for sale is up 8.7% compared to this time last year. Once again, good news for buyers. Closed sales are down 10.7%, new listings are down 6.5% and pendings are down 8.8%. Average days on market are down a bit at 97 and median is actually up at 5.6% at 76.
For more information on the South Lake Tahoe real estate market or if you are looking for a South Lake Tahoe Realtor, feel free to give us a call. We would be happy to help!
|South Lake Tahoe Market Report||2019||2018|
|Number of Closed Residential Sales||51||67|
|Median Home Sales Price||$455,500||$449,000|
|Average Home Sales Price||$546,669||$540,495|
|Average List to Sale Ratio||97.3%||97.5%|
|Average Dollar Per Square Foot||$343||$328|
|Average Days on the Market||97||101|