Whether you are buying or listing homes for sale in South Lake Tahoe, knowing the current market report is necessary to make informed decisions. If you have aligned yourself with an experienced Lake Tahoe Realtor, you can rest assured you are working with someone who will act as your guide and advocate throughout the process. Something your chosen professional can provide to you at the beginning of your journey is a South Lake Tahoe real estate market report. This report consists of the average and median numbers for the South Shore as a whole. Buyers get an idea of what their buying budget will get them while sellers get an idea of list prices. The details below allow both parties to gauge what makes a competitive offer to bid or accept.
In looking at this current report, most of the categories are up. The good news for sellers is that the average and median sold prices for homes for sale in South Lake Tahoe have increased compared to this time last year. The average percentage of list price is still the same. The month supply is up 7.1% at 4.5. This is good news for buyers as it indicates an increase in inventory. This is a wonderful number to know in general 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 4.5% compared to this time last year. This brings good news for buyers.
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 | 2020 | 2019 |
|---|---|---|
| Number of Closed Residential Sales | 50 | 42 |
| Median Home Sales Price | $465,000 | $455,522 |
| Average Home Sales Price | $583,029 | $551,554 |
| Average List to Sale Ratio | 97.1% | 97.1% |
| Median Dollar Per Square Foot | $336.50 | $297.88 |
| Average Days on the Market | 107 | 98 |
| Month Supply | 4.5 | 4.2 |
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