It is officially spring, which means South Lake Tahoe real estate is picking up! This time of year usually sees an influx of homes for sale in South Lake Tahoe coming on to the market. If you are purchasing or listing homes for sale in South Lake Tahoe, or looking in a specific neighborhood, educating yourself on the local market conditions can have a great impact on your experience. Using details like days on market, sold prices and month supply can assist you in making a competitive offer as well as knowing which one to choose. It is important to know that while the below numbers cover the over all of what is happening in South Lake Tahoe, California, every neighborhood has their own set of stats. So if you are looking in Al Tahoe or Tahoe Keys, the numbers may look a bit different than what is reported below. The best way to get this information is from a South Lake Tahoe realtor. When you work with an experienced South Lake Tahoe realtor, you not only have an advocate and a guide, but a reliable resource for accurate information. This combination is crucial for your success. So how is South Lake Tahoe real estate doing? Check out the latest market report!

As far as pricing goes, sellers can rejoice knowing that sold prices for homes for sale in South Lake Tahoe have continued to go up! The average sold price is up 8% at $536,325.  The median has increased 9% to $445,000. These numbers are up from this time last year to just last month. The median percentage of list price is at 98%. You can use this number to your advantage as it indicates your negotiation power.

The amount of homes for sale in South Lake Tahoe are down very minimally while new listings are up 9.9%. Closed South Lake Tahoe homes for sale are down at 5.2% while pending South Lake Tahoe homes for sale are down 3.1%. The median days on market for real estate in South Lake Tahoe is at 71 while the average days on market for South Lake Tahoe homes for sale is at 101. The month supply has increased just a bit to 3.7. A South Lake Tahoe realtor looks for a 6 month supply in order to consider the market balanced. Anything less than 4 is a seller’s market, which we are currently in. If you are looking for real estate in South Lake Tahoe, or a South Lake Tahoe realtor, give me a call at 530-308-4331.