Tahoe City Homes for Sale under $500,000 – Hot Market

Buyers looking for Tahoe City homes for sale under $500,000 are in a Hot Market! Everyone has a budget these days and my Tahoe Buyers are always asking what is hot and what is not, and where can they find a deal!

Home prices are always a factor in our North Lake Tahoe – Truckee, California market, but if you’re looking to buy a home under $500,000 in the Tahoe City market, be prepared for some serious buyer competition!

Here are some recent market data results you’ll be interested in knowing for the period January 1, 2016 – July 30, 2016:

Tahoe City Homes for Sale under $500,000 – Hot Market | Update as of 07-30-2016

For the Time period 01-01-2016 to July 30, 2016

Tahoe City Homes Sold under $500,000 in price: 14 Homes

Tahoe City Homes Average Median Home Sales Price under $500,000: $430,000

Tahoe City Homes Average Home Sales Price under $500,000: $420,727

Tahoe City Homes Sold Price Range: $345,000 – $475,000

Tahoe City Homes Sold Days on Market Average (DOM): 53

Tahoe City Homes Sold Days on Market (DOM) 31 Days or less: 43%

Tahoe City Homes Sold % Sold Price to Listed Price: 98.3%

Tahoe City Homes that are Sale Pending under $500,000 as 07-30-2016: 4

Tahoe City Homes for Sale under $500,000 as of 07/30/2016: 5 as of 07-30-2016

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Now that 2016 is more than half-way done, our local Tahoe City inventory is near its seasonal annual volume inventory peak, so if you’re a buyer looking to get into this hot market this is one of our best selections, so if the summer heat has put your Tahoe home search on hold, now is the time to look again at what is on the market.

Tahoe City Homes for Sale under $500,000 – Hot Market! | Buyer Tips

1) Select a Tahoe REALTOR® to work with in your property search. Local real estate agents know the market and can share with you their local insights, and give you property feed-back that you cannot get from just looking at listings on-line.

2) Get automatic property alerts. Have your local Tahoe REALTOR® set you up to receive property alerts from a real-time system. Receiving Tahoe City Homes for Sale under $500,000 property alerts in real time is a must!

Tahoe Buyer Tip – not all email property alert systems are the same. Be sure to be on a property alert system that updates in real-time and through-out the day. Most only update once a day, so avoid those systems. Their data can be dated and in a hot market, getting information right away is the key to not missing an opportunity.

3) Get your Loan Pre-Approved – If you know you’ll need a loan to buy your second home here in the North Lake Tahoe or Truckee, do your homework now, and get everything that your lender will need to process your loan. By being prepared, you’ll be in a position to write an offer quickly, which is key in a hot market where the Tahoe City market where 43% of all homes sold under $500,000 were in escrow with an accepted offer in less than 31 days.

4) Be prepared to see a property right away. If you see a new listing you like, don’t wait. Call you agent and figure out a way to see it right away, which may be a very last minute trip up to Tahoe to see that property right away.

Tahoe Buyer Tip: In a multiple offer situation the buyer that has already seen the property will have an advantage over the buyer who has written an offer on the property without seeing it first.

5) Be prepared to pay the listed price. Tahoe City homes listed under $500,000 have sold at a 98.3% of their listed asking prices so far in 2016. Remember the newer the listing, the closer to that listed price, or above it you may have to go, so mentally be prepared to pay the asking price.

6) Looking for a deal? If you’re looking for a deal in the market priced under $500,000 take a hard look at properties that need work, or may be near a busy street. Most second home buyers don’t want to deal with a home that needs TLC, or has deferred maintenance, or is near, or on Highway 28 or Highway 89 S so that means lower buyer competition for those homes and it puts you in a position to make a deal.

Tahoe Buyer Tip: In a hot market, when a property has been on the market for a while, chances are it needs some work, or has some negative features (like being located in a busy road) that most buyers will pass on. It’s your chance to make a deal, but be prepared to be realistic on how much it may cost to do the work in our area. If you’re someone who can take their time on fixing a place up, there are still deals to be found. Ask you agent about the pros and cons on any property you are considering buying!

While our Tahoe City Homes for Sale under $500,000 are in a Hot Market, there are still deals to be found! If you want to learn more, call me 530.414.1260!

Here’s to finding the Tahoe City mountain home or cabin of your dreams!

Thinking about making Lake Tahoe, California your second home? Check out the homes that are for sale here:

Want to see what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Tahoe City Homes for Sale under $500,000 – Hot Market