Seller’s Market

Janet Escrow picThis house on Janet Drive is a 3 bedroom, 2 bath, 1 car garage home in fair condition.  It was competitively priced and had it’s first offer within 7 hours of its arrival on the market.

Median Prices Over the Last Year

January has been a very interesting month in real estate in South Lake Tahoe.  Currently there are only 147 single family homes on the market.  That number is low, but it is astounding when you consider the number of homes that are in escrow is 72.  With 14 homes sold so far in the month, seller’s couldn’t ask for a stronger market.  That is nearly a 2:1 ratio! With inventory this low, finding and getting an accepted offer on a well priced home takes strong market knowledge, diligence, and quick reaction from Buyers and their agents.

So if you have been considering selling your home these are favorable market conditions; give your favorite Realtor a call.  And if you are in the market to buy, make sure that you have a Realtor who you trust, communicate well with, and has the market knowledge to help you navigate this low inventory.