If you are buying and selling homes for sale in South Lake Tahoe, you likely are wondering what is happening in the South Lake Tahoe real estate market. Whether you are a buyer or a seller, knowing the current market conditions is crucial for your success. As a seller, you get an idea of what is the best list price accordingly to South Lake Tahoe real estate that has sold, as well as who has control of the market and how long it is taking for homes for sale in South Lake Tahoe to get an offer. As a buyer, you understand your position in the market as well as what criteria goes into crafting an enticing offer. The best resource for this information is from a South Lake Tahoe realtor. A South Lake Tahoe realtor uses the STARMLS, which is the most accurate way to get this info. So how is the current South Lake Tahoe real estate market doing? Let’s check it out.

Sellers get good news this month as far as the sold prices for South Lake Tahoe homes for sale. The average sold price for homes for sale in South Lake Tahoe is up 8.2% at $538,917. The median sold price for homes for sale in South Lake Tahoe has increased 5.3% at $440,000. The percentage of list price for real estate in South Lake Tahoe is at 98%. This stat determines your negotiation power, which is a great resource for buyers and sellers. Your realtor in South Lake Tahoe will be able to share how you can best utilize this to your benefit.

In regard to the inventory, this one is a mixed bag depending on what side of the transaction you are on. The good news for buyers is that real estate in South Lake Tahoe has gone up from 216 last year at this time to 225. New listings have also seen a 15.4% increase as well as pendings getting a 4.2% bump and closed sales going up a smidge by 1.5%. Both the median and average days on the market have gone down, which is good news for sellers as it means South Lake Tahoe homes for sale are getting offers quicker compared to this time last year. The median is currently at 72 while the average is 102. The month supply is still sitting at 3.7, which is just below a seller’s market. A balanced market needs 6 and anything less than 4 means demand is high and inventory is low.

It is important to understand that this particular report is just for real estate in South Lake Tahoe in general and each neighborhood has their own report. So if you are looking for a report on a certain neighborhood such as Tahoe Keys or Al Tahoe, your realtor in South Lake Tahoe should be able to provide you with an accurate analysis. If you are looking for more information on buying or selling in this area, give me a call. I would be happy to help!