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Home > Monthly Lake Tahoe Real Estate Report

Monthly Lake Tahoe Real Estate Report

July 1, 2020 by Mark Salmon Leave a Comment

If you are thinking of buying or listing homes for sale in Lake Tahoe, the local real estate market is HOT right now. We have a lot of buyer demand and not enough inventory to satisfy those looking to purchase Lake Tahoe real estate. Whether you intend on purchasing or selling in the area in 2020, there are some things you need to know and do before you get started. First, link up with a local Lake Tahoe Realtor. With the many nuances of being a second home, resort market, you need someone who has experience, knowledge and expertise who can guide you through and act as your advocate. Second, find out what is happening in the market. I look at the average and median sold prices, days on market, month supply and more to create a custom analysis for my clients. This allows sellers to price according to fair market value and figure out what makes a good offer to accept while it helps buyers understand their purchasing power and craft a competitive offer to make. So how are things looking in Lake Tahoe real estate this month? Let’s look below…..

Currently, the average and median sold prices are UP! From both this time last year and just last month. Average sold prices for homes for sale in Lake Tahoe are currently up 9% at $595,364. The median is up almost 3% at $467,750. This is good news for sellers. Additional good news for sellers, but not so great for buyers, is that the month supply is down 4.7% at 4.1. This essentially means we are in a seller’s market, which would explain why homes for sale in Lake Tahoe are going from active to pending so quickly and why multiple offers and closing over ask definitely are not a thing of the past here just yet. Not surprisingly, new Lake Tahoe real estate listings are down 4.4% while pendings are up 10.9%.

It is important to note that the above snapshot market report is for South Lake Tahoe in general. If you want a custom analysis for your home or certain neighborhoods you want to buy in, reach out to a Lake Tahoe Realtor. Likely, the numbers will differ. For example, Tahoe Keys real estate currently has an average sold price of $948,395 and a month supply of 4.6. Meanwhile, in Al Tahoe, the month supply is 4.2 and the average sold price is $732,438 which is a 50% jump from this time last year. Your Lake Tahoe Realtor can give you the information you need tailored specifically for you. If you need more information on buying or selling in Lake Tahoe, feel free to give me a call. I would be happy to help!

Filed Under: Buyer Tips, Market Reports, Real Estate News, Seller Tips

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185 Clubhouse Circle has SOLD! Loved working with 185 Clubhouse Circle has SOLD! Loved working with the sellers to list this Lake Village townhome with tons of classic Tahoe character and charm. 

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1847 Hekpa is now offered at $325,000! An incompar 1847 Hekpa is now offered at $325,000! An incomparable opportunity to secure one of the few remaining parcels, over 1 acre, left in the entire Tahoe Basin. The lot backs to miles of National Forest land that provides instant access to a myriad of hiking & biking trails, Trout & Saxon Creeks, and winter snowmobiling options. The property is surveyed and has had a full TRPA site assessment showing 6,514 sq ft of available coverage with an 823 IPES score that allows for a variety of coverage exemptions. The seller is a tenured local builder, who has plans designed for a 5,000-sf custom home with extensive decks to take in elevated mountain views and incredible alpenglow sunsets. Build-to-suit options are available for the current project or plans could be revised to fit the buyer's specific needs, including possibilities for secondary dwellings, an ADU, or an oversized garage.  Seller could offer a package deal with improved pricing for either the lot or the build out if a contract was signed for him to build the house for the buyer. 

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3281 Panorama has SOLD! Thoughtfully crafted to ca 3281 Panorama has SOLD! Thoughtfully crafted to capture a timeless mountain atmosphere, this exceptional home features finishes deserving of a luxury retreat. Nestled in peaceful Christmas Valley, the home is bordered by two scenic ridgelines and allowed for seamless entertaining both inside and out. Congrats to my sellers. It was such a pleasure listing this home! Sold for $1,200,000. 

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Mark Salmon

Lake Tahoe REALTOR®
(530) 318-7637 Cell
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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.