July 2017 Market Update
The South Lake Tahoe housing market has been steady. The inventory of homes has been rapidly increasing; and that is good news for buyers! The market will continue to pick up in the next few months and home values should continue to slowly increase as long as interest rates remain low.
The Numbers Month to Month and Year to Year
– The median sales price for South Lake Tahoe, CA Homes for Sale was $387,500 in July 2017, compared to $381,000 during July 2016.
– The number of South Lake Tahoe, CA Homes that sold was 59 in July 2017 vs. 53 homes sold in July 2016.
– There were 111 new listings entering the market this month.
– There are 97 South Lake Tahoe, CA homes for sale that are under contract which represents 37% of the overall available inventory of 264 homes for sale.
– Average days on the market: 52
– From the 264 homes listed during July, 2 of them was a foreclosure and 0 of them were short sales.
A few highlights of the current South Lake Tahoe, CA Homes for Sale are shown below.
This Month’s Most Expensive
The most expensive new listing that entered the market this month was 3708 Verdon Lane, selling for $1,399,000. Stunning newer construction home located only 1/2 mile from world class Heavenly Ski Resort and the California Base Lodge. The great room hosts a beautiful gas fireplace, huge vaulted ceilings, and an open concept layout to the kitchen. Upscale hickory cabinets with soft close, stainless steel appliances, farmhouse sink, double oven, and beautiful granite counter tops are just a few of the features. 4 balconies and and a large deck off the great room provide ample outdoor space. There is also a hot tub out the back. Two spacious areas are set aside for fun; the huge loft overlooking the great room, and the downstairs game room with a wet bar. This home was built in 2016 and is a 6 bedroom / 5 bath / 2 car garage home.
This Month’s Least Expensive
The least expensive new listing that entered the market this month was 3304 Cape Horn Road listed for $259,000. This is the perfect place to relax and unwind amongst the pines. Perfectly tucked away, this adorable, one bedroom cabin, features knotty pine accents, full-size kitchen, generously sized living area, large deck, storage shed, fenced yard and more! Recent upgrades include the roof, laminate wood floors, gas fireplace insert, and the addition of a full-size bathroom. This home was built in 1938 and has 1 bedroom / 1 bath / 720 Sq Ft.
This Month’s Must See
The choice for home of the month for July was 289 Heather Circle listed at $980,000. This wonderful Modern Transitional Style Mountain home has four bedrooms, 3 baths, a three car garage plus an oversized carport for motor home parking, plus lots of extra car parking. Open floor plan with open ceilings. Great room with fireplace and vaulted ceiling. Dining room. Exercise workout area with vaulted ceiling adjoins the private spa. Property is beautifully landscaped. The bubbling hot tub sits on just one of several private decks and patios. That’s what makes this our pick for “Must See Home of July.” This home was built in 1976 and has 4 bedrooms / 3 baths / 3186 Sq Ft.