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Home > Monthly Lake Tahoe Real Estate Report

Monthly Lake Tahoe Real Estate Report

September 3, 2020 by Mark Salmon Leave a Comment

The Lake Tahoe real estate market continues to deal with low inventory and high demand. While the local market is starting to cool a bit compared to the summer months, the current month supply is still sitting at 3.4 and is down 24.4% compared to this time last year. What this means for sellers is NOW is still a great time to list. What it means for buyers is that you still need to act fast and be prepared to make a competitive offer. No lowballing. Your Lake Tahoe Realtor can walk you through the listing and buying process but knowing the current Lake Tahoe real estate market stats is a great place to get started. Below are the numbers we have been watching to help guide our clients.

The average sold price for homes for sale in Lake Tahoe is up 16% at $653,849. The median sold price for homes for sale in Lake Tahoe is up 7.4% at $505,000. These two numbers are for the south shore, specifically on the California side. We’ll get to that more in a minute. The median percentage of list price indicates your negotiation power and that is current up slightly at 98.2%. The average days on market are up 5% at 106. The amount of homes for sale in Lake Tahoe is down 24% while closed sales are down 28%. These two numbers are expected due to the record low inventory. New listings are also down as a result of the lack of supply by 1.9%. Pending sales are up, however, at 37.5%.

It is incredibly important to note that every single neighborhood has their own micro report that will look different than these numbers. When coming up with fair market value, it is crucial to look at comparable solds. These are homes that are considered similar and have actually closed in the last 3-6 months. So, for example, if you want to list your home in the Tahoe Keys, you may think something around the above-mentioned average list price would be appropriate. However, the average sold price in this specific neighborhood is currently at $1,014,533. Meanwhile, in Highland Woods, the average sold price is almost half at $502,333. These two neighborhoods are both considered desirable in city areas and are really only separate by a meadow and a mile. Yet, their respective reports are both VERY different for a variety of reasons. When you work with a Lake Tahoe Realtor who knows the different neighborhoods, you are working with someone who can successfully guide you towards your goals, whether you are a seller or a buyer. If you need more information, 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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Ryan Smith will be hosting an open house at 439 Al Ryan Smith will be hosting an open house at 439 Ala Wai Blvd, Unit 152 tomorrow, September 24th from 10a-1p. A premier location, this townhome offers incredibly quick access to the lake, a straight shot into your boat slip, and an exceptional view corridor. Enjoy alpenglow sunsets over distant Heavenly Ski Resort from your lower deck or upper covered balcony that’s off the primary suite. The front door is positioned directly across from a park area and tennis courts and you’re a short walk to the indoor or outdoor pool and homeowner’s private beach. The interior has preserved some classic Tahoe charm with open beam, tongue and groove pine ceilings, and a freestanding gas fireplace. The kitchen has updated cabinetry and flooring with a large peninsula island. All 3 bedrooms are generous in size and are accompanied by 3 full bathrooms. This unit sells fully furnished! bit.ly/47kPI4j

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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. 

Compass® DRE# CA 01485376 | NV 0191477 #realtor #realestate #laketahoe #laketahoerealestate #luxury #mountainhome #compass

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Mark Salmon

Lake Tahoe REALTOR®
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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.