The median sales of South Lake Tahoe homes sold over the past year is now $350.,000.
The number of closed sales of homes in South Lake Tahoe has been growing fairly consistently since October of 2009. There were 234 closed sales of homes that year and over the past 12 months, there have been 605.
As I’ve been writing about consistently in my monthly sales articles we have a growing median home value, a leveling out of the number of closed sales and a rapidly reducing number of homes on the market.
A new observation I will start sharing with my clients is: “dollar volume of sales.” This figure is interesting because it shows how much money is being invested in South Lake Tahoe, CA and how strong the real estate market actually is. Over the past 12 months there was $271,159,415 in sales! This is over ten percent higher than last year.
South Lake Tahoe Homes for Sale
Now that we’ve looked at the sales figures for the past year, here is some information on current homes on the market in South Lake Tahoe. We hit an all time low in the number of homes on the market in the area back in May of 2013. That is when home buyers flocked to the the South Shore in hopes of finding a home to buy at the lake that was bargain priced. During that spring, and previous winter, the median home sales price was starting to climb from it’s low of $265,000. The number of new listings were just coming off an all time low as well.
Looking at home sales figures for the months of December and January is not a good representation of what is happening overall in Lake Tahoe real estate. There are very few homes listed because of the holidays and it isn’t generally a big time to make offers on homes. This is why we look at sales figures for the past year and not just monthly.
Here is the biggest news in South Lake Tahoe Real Estate: In August of 2014 there were 367 homes for sale. Today, there are just 167!
Currently, most of my clients looking to buy a home in South Lake Tahoe are looking in the $400,000 to $700,000 range. The availability of homes in this range is declining as there are just 57 homes currently for sale in this price range.
The number one complaint I hear from those wanting to buy a home in Lake Tahoe is about the lack of inventory. Because of this, I have a few suggestions on how to have the competitive edge:
- Sign up for email notification so you’ll know the minute a home is listed.
- Call me directly at 530-541-2465 or stop by my office and we’ll sit down and explore all options.
- Get my newsletter every other month which gives you an insight into Lake Tahoe real estate.
- Search all homes for sale around the lake. My website makes it easy to search for homes that match your criteria.
- Get valuable and current information when you sign up to receive Lake Tahoe real estate articles sent to your inbox.