Monthly Market Update, March 2018
The South Lake Tahoe housing market has been steady. The inventory of homes is currently low, but the inventory should start increasing as we move into Spring & Summer. 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 $475,000 in March 2018, compared to $395,000 during March 2017.
– The number of South Lake Tahoe, CA Homes that sold in March 2018 was 59, and 58 homes sold in March 2017.
– There were 64 new listings entering the market this month.
– There are 52 South Lake Tahoe, CA homes for sale that are under contract which represents 30% of the overall 160 available inventory of homes for sale.
– Average days on the market: 77
– From the 160 homes for sale during March 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
The most expensive new listing that entered the market this month was 559 Lucerne Way, selling for $1,775,000. Luxurious waterfront home on prestigious Lucerne Way in the Tahoe Keys! Completely refurbished from top to bottom in 2015 with high end finishes this is one of the nicest homes in the Tahoe Keys. With over 73 feet of water frontage, an oversized fully landscaped yard, and quick lake access by boat, this location is hard to beat. This home has rustic mountain contemporary finishes throughout. The open downstairs living area has wide plank white oak hardwood flooring, tall vaulted ceilings, two open burning fireplaces, and stunning water and mountain views. The kitchen has a massive center island with beautiful granite slab counters, plentiful counter space, knotty alder cabinetry, Meile appliances, and a built in fridge. There is one bedroom downstairs with an en-suite bathroom and 3 additional spacious bedrooms upstairs including the master bedroom/bath. The new dock can accommodate an oversized boat and has room two additional boats/watercraft. Luxury waterfront living!
This home was built in 1975 / 4 beds / 3 baths / 2830 Sq Ft. Schedule a Showing!
This Month’s Least Expensive
The least expensive new listing that entered the market this month was 1213 Heather Lake Rd, listed for $299,000. Great opportunity for someone looking to earn some sweat equity. This spacious fixer upper is located on an oversized level and sunny fully fenced lot. Zoned as multi-family, this property has many possibilities for future use and development. Bring your imagination and do not let this opportunity pass you by! This home was built in 1957 / 3 beds / 2 bath / 2380 Sq Ft. Schedule a showing!
This Month’s Must See!
The choice for March’s must-see home of the month is 20331 US Hwy 50, Twin Bridges, CA listed at $329,000. Sierra At Tahoe 6.849 acre Mountain Compound. Water is from a spring fed reservoir and purchase includes water rights. Five separate buildings on property including remote office space or clubhouse. Plenty of storage for all your toys. Situated across from Sierra At Tahoe’s famed Huckleberry Canyon. Views of Huckleberry from many locations on property. Conveniently located one mile east of Sierra At Tahoe’s entrance. Be ready for first chair every powder day. Gorgeous setting in the tall pines on a well traveled deer migration route. Backing to Forest Service land, hiking trails and numerous vista points. Enjoy the South Fork of the American River, Lovers Leap, Pony Express Mt. Bike trail, Desolation Wilderness, Scout Peak, Becker Peak, Mt. Ralston, Talking Mt. and Echo Lake. Quintessential Sierra cabin complete with knotty pine, vintage cabinetry and freestanding fireplace. Skidsteer, blower attachment and snowmobile could be negotiated into purchase. Own the Sierra lifestyle! This home was built in 1950 and has 3 bedrooms / 1 baths / 960 Sq Ft. Schedule a Showing!