If you are thinking of listing or buying North Lake Tahoe real estate, it is important to know what the local market report is looking like, especially in the midst of a pandemic. We like to provide our clients with a monthly market report so that they can make accurate and informed decisions whether they are buying or selling. The numbers we typically look at are average and median sold prices, days on market and month supply. These tell us things like what is a fair market list price or how fast homes in North Lake Tahoe are selling or who has control of the market: buyers or sellers. This allows both parties to make or accept offers they feel confident about.
Currently, for this side of the lake, everything is down. Which is to be expected as the past couple months has been slow for North Lake Tahoe real estate. With the travel restrictions and Shelter in Place, our industry saw a bit of a pause. Though-things are on the upswing. While the amount of sold real estate in North Lake Tahoe did decrease along with average and median sold prices, we saw the amount of days on market take a dramatic dive compared to the year prior. This actually means homes for sale in North Lake Tahoe are moving much quicker, which is good news for motivated sellers. It does also mean that buyers may not have a ton of time to “sleep on it”. For more information on real estate in North Lake Tahoe, give us a call. We’d be happy to help!
| North Lake Tahoe Real Estate Market Report | 2020 | 2019 |
|---|---|---|
| North Lake Tahoe Real Estate Market Report | 2020 | 2019 |
| # of Listings Sold | 6 | 14 |
| Average Sold Price | 614,833 | $1,326,452 |
| Median Sold Price | $620,000 | $753,750 |
| Days On Market | 51 | 95 |
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