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 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 |
| Month Supply | 2.7 | 4.7 |
The post South Lake Tahoe Real Estate Update appeared first on Lake Tahoe Real Estate | South Lake Tahoe Real Estate Experts - Don & Theresa Souers.
