Monthly Market Update, August 2018

The Numbers Month to Month and Year to Year

The South Lake Tahoe housing market has been steady. The inventory of homes is currently low, but the inventory should start increasing as we continue into Fall. With the recent changes in the Vacation Rental Rules, we are unsure of how that will affect the Housing Market over the next few months. 

The Numbers Month to Month and Year to Year
– The median sales price for South Lake Tahoe, CA Homes for Sale was $419,000 in August 2018, compared to $437,000 during August 2017.
– The number of South Lake Tahoe, CA Homes that sold in August 2018 was 77, and 91 homes sold in August 2017.
– There were 100 new listings entering the market this month.
– There are 84 South Lake Tahoe, CA homes for sale that are under contract which represents 30% of the overall 290 available inventory of homes for sale.
– Average days on the market: 68
– From the 290 homes for sale during August 2018, 1 of them were a foreclosure and 0 of them was a short sale.

A few highlights of the current South Lake Tahoe, CA Homes for Sale are shown below.

This Month’s Most Expensive

This Month’s Most Expensive

The most expensive new listing that entered the market this month was 486 Christie Drive, selling for $1,295,000. Life is best at The Chasing Rainbows Retreat. This vintage Tahoe Keys getaway features a nautical theme and direct views of Tallac where you will see some of the most magical sunsets and even a few rainbows. This home has been lovingly restored to its original splendor featuring the original wood and stone accents. In addition, a mother in law-unit has been added and features a living room, bedroom, full bath and separate entry. There are three decks overlooking the water, each with a phenomenal view. The kitchen is open to the living room and features the original restored teak counters, a Wolf range and stainless steel appliances. Furnished down to the silverware and move-in ready.  This home was built in 1976 / 3 beds / 3 baths / 2540 Sq Ft. Schedule a Showing!

 This Month’s Least Expensive

The least expensive new listing that entered the market this month was 970 Los Angeles Avenue, listed for $275,000. Original family owners sadly say it is time to pass along their beloved Tahoe summer cabin to new owners. Located on a huge lot, nearly twice the size of others in the area, this quintessential cabin is within walking distance to Lake Tahoe beaches, meadow trails, shopping, Lakeview Commons, bike lanes and more. Open beam vaulted ceilings, lots of natural pine accents and wood floors add to the overall charm and ambiance. The lot has been arranged to have two separate areas. The first is an enclosed deck which leads to the bunk house and the other is a side yard featuring access for RV parking if desired. The bunk house is ideal for storing those Tahoe toys or can be used as additional sleeping in the summer. There is a utility room off of the kitchen which leads to the back patio area. This room has electric and water connection with the option to add a small washer/ dryer. One of the lowest prices to be found in area and time for a new family to create their own Tahoe memories .  This home was built in 1936 /  2 beds / 1 bath / 905 Sq Ft. Schedule a Showing!

This Month’s Must See

The choice for August's must-see home of the month is 3485 April Drive in South Lake Tahoe CA, listed at $535,000. This recent luxury renovation on a quiet, tree-lined street includes birch floors, vaulted pine ceilings, double-pane windows, newer, insured 50-year roof, open stone fireplace, granite counters, soft-close KraftMaid cabinetry, all stainless steel appliances and a fully vented convection range/microwave. Baths feature light granite, wood-look tile floors and Kohler fixtures. Separate linen, coat and under-stair closets. All BRs have ceiling fans, and upstairs are two huge BRs with gabled ceilings and walk-in closets. 2-car garage has shop lighting, built-in heater, project sink and laundry area w/ collapsible folding table. Spacious, fenced backyard has 8′ x 24′ redwood deck w/bench seating and dog run. No-mow Tahoe lawn with frequent wildflowers. 2 mi. to Heavenly and minutes to trails and shopping, in-town location just off Pioneer ensures reliable cell/internet service and dependable in/out access after snowstorms. Roof, electric and fencing all repaired/upgraded in past year.  This home was built in 1976 /  4 beds / 2 bath / 1492 Sq Ft. Schedule a Showing!