When it comes to purchasing or selling homes for sale in South Lake Tahoe, it is important to understand the local market stats such as days on market, average and median sold price and month supply. These details can guide you in your strategy as both a buyer and a seller. As a buyer, you know what homes for sale in South Lake Tahoe are selling for which allows you to create a competitive offer. As a seller, this helps you figure out how to price according to the South Lake Tahoe real estate market which is necessary if you would like to move your home quickly and for the most money. The best resource for all this information is from a South Lake Tahoe realtor.
Currently, the average sold price for homes for sale in South Lake Tahoe is up 4.1% from this time last year at $538,559. The median sold price for South Lake Tahoe homes for sale is up 4.7% from last year at this time at $450,000. The average percentage of list price is still sitting at 97.4% which it has been for the last couple months. Ask your South Lake Tahoe realtor how this number applies to you as a buyer or a seller.
The amount of South Lake Tahoe real estate for sale is up 7% from last year’s 213 to 228 this year. New listings are up 2.8%. Pendings are up 0.5% while closed sales are down 3.2%. Both the average and median days on the South Lake Tahoe real estate market are down from this time last year but still hovering around the same numbers as last month. The median is at 75 and the average is at 101. The month supply is up 8.6% from last year at 3.8, which is the exact same as the past few months. This number determines what kind of market we are in. A balanced market needs 6 months and anything less than 4 is considered a seller’s market. It is important to note that each neighborhood has their own set of market statistics, so if you have your eye on a certain area, be sure to chat with your South Lake Tahoe realtor on what is happening in the neighborhoods you are interested in. Have questions about real estate in South Lake Tahoe or looking for a realtor in South Lake Tahoe? Feel free to reach out. Our team would be happy to help!
|South Lake Tahoe Market Report||2018||2017|
|Number of Closed Residential Sales||69||92|
|Median Home Sales Price||$450,000||$430,000|
|Average Home Sales Price||$538,559||$517,541|
|Average List to Sale Ratio||97.4%||97.4%|
|Median Dollar Per Square Foot||$333||$301|
|Average Days on the Market||101||107|