There are many home buyers looking for homes for sale in Lake Tahoe, and we’re also seeing many home sellers as well. I’m getting more phone calls and website inquires than I have had in many years!
Median Sales Price of Closed Sales in South Lake Tahoe
When looking at the month of June you’ll see that real estate sales figures have remained pretty much the same when compared to May. These are closed sales, so the homes that are selling now will be reflected in the monthly figures in about 45 days.
The median sales price for homes sold in South Lake Tahoe for the last year was $345,000, the same figure we saw in May! This is still an increase of 18% from the previous year when it was $275,000. Even though sales prices are leveling off, they have been on an upward motion since the low in August of 2012 when the median was $231,000.
Home Sales Down 8%
Sales were down 8% for the year ending in June when compared to the previous year. There were 55 closed sales in June, 52 in May and 58 in June of 2013. I’m not worried about a drop in sales because these were homes that closed escrow prior to an increased inventory of homes. When you see fewer homes for sale you’ll usually expect to see a decrease in new escrows. Now that our inventory of homes for sale in South Lake Tahoe has gone up almost 10%. We should see more closed sales.
It was clear to me. That we could not keep up with such record breaking and frantic home sales as we saw last year. Actually the increased homes for sale is giving buyers more choices.
Buying a Home in South Lake Tahoe
The figures I provide each month are to just give readers and my clients an insight into what has been happening in the local real estate market. But every home is different and every sale is different. An even easier insight into closed sales for the last year would be to visit the closed sales feature on my website. No matter which day you look at this there will be the sales information for the previous 365 days.
How To Find Your Home in Lake Tahoe
- 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.