The Monthly South Lake Tahoe real estate stats are in and it has some mixed results for buyers and sellers interested in our market. First, it is important to know that we value making sure our clients have accurate information so we want to share the numbers we look at that tell us what exactly is happening in the market. Details like average and median sold prices, days on market, percentage of list price and more give us valuable information that we then pass on to both our buyers and sellers so they can use to their benefit. Buyers understand their purchasing power while sellers understand fair market value and what makes a good list price and offer. Let’s take a look at the latest report.
While the amount of sold Lake Tahoe real estate saw a slight dip, the average sold price for Lake Tahoe homes for sale went up compared to this time last year, while the median sold price stayed the same. The average percentage of list price went down slightly while the dollar per square foot went up. Days on market went up slightly, which means Lake Tahoe homes for sale are taking a little longer to sell. The month supply stayed the same. Anything 4 or under is considered a seller’s market while 6 suggests we are more balanced. For more information on listing or buying Lake Tahoe homes for sale, give us a call. We’d be happy to help!
| South Lake Tahoe Market Report | 2020 | 2019 |
|---|---|---|
| Number of Closed Residential Sales | 24 | 58 |
| Median Home Sales Price | $460,000 | $460,000 |
| Average Home Sales Price | $593,266 | $546,290 |
| Average List to Sale Ratio | 97% | 97.2% |
| Median Dollar Per Square Foot | $355.66 | $343.08 |
| Average Days on the Market | 111 | 97 |
| Month Supply | 4.3 | 4.3 |
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