Monthly Market Update, May 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 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 $516,000 in May 2018, compared to $475,000 during May 2017.
– The number of South Lake Tahoe, CA Homes that sold in May 2018 was 64, and 49 homes sold in May 2017.
– There were 152 new listings entering the market this month.
– There are 75 South Lake Tahoe, CA homes for sale that are under contract which represents 30% of the overall 246 available inventory of homes for sale.
– Average days on the market: 58
– From the 246 homes for sale during May 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 276 Beach Drive, selling for $2,750,000. Unbelievably gorgeous is this Beach Drive home! The immensity of Spinnaker Cove hits you as you walk through the front door giving you the feeling of lakefront living. Your boat slip is steps away! This Tahoe Keys home is a lodge unto itself with 5 ensuite bedrooms; a spacious great room; cheery gourmet kitchen and a garage to covet. You can store your boat in the garage plus charge your Tesla! Truly, you need to see this one! This home was built in 1984 / 5 beds / 6 baths / 3624 Sq Ft.
This Month’s Least Expensive
The least expensive new listing that entered the market this month was 3695 Willow Avenue, listed for $269,000. Affordable Tahoe cabin shows pride of ownership. Open floor plan with good-sized rooms: living room, kitchen with dining bar (and new oven to be installed soon), bedroom and bathroom (with shower stall, and room to add a tub). Outside you'll find a fenced yard with deck, shed, and platform for another shed; also, 2 year-old roof. Close to Tahoe's main attractions: Heavenly ski resort and gondola, Ski Run marina and the Lake, Stateline shops and restaurants. This home was built in 1955 / 1 beds / 1 bath / 520 Sq Ft.
This Month’s Must See
The choice for March's must-see home of the month is 780 Emigrant Trail in Markleeville CA, listed at $465,000. Seclusion and Privacy on Emigrant Trail!! This 3 bed 2 bath 3 car Custom home boasts stunning views of the snow-capped Sierras and Carson Valley. On 5.5 acres this home is set back from the street with a large 3 car garage plus a workshop that will not disappoint, which could easily be turned into mother in law or guest quarters. This well maintained home shows pride of ownership, must see to appreciate. This home was built in 1988 and has 3 bedrooms / 2 baths / 1700 Sq Ft.