Home sales in Lake Tahoe has started to slow down in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. 

April sales likely reflect contracts signed in the prior two months when the average rate on the popular 30-year fixed-rate mortgage was hovering just below 7%. The average rate on the 30-year fixed-rate mortgage has struggled to break back below 7% after surging to more than a five-month high of 7.22% in early May, data from mortgage finance agency Freddie Mac showed.

In South Lake Tahoe, we have observed an increase in homes for sale coming onto the market. We anticipate that more homes will continue to be listed in the next few months, as we approach Summer. This is great news for buyers. However, inventory is still low compared to pre-pandemic levels, and housing affordability is still a major issue due to high mortgage interest rates. Additionally, homes in South Lake Tahoe are staying on the market longer, with the current average being 106 days compared to just a couple of months ago.

The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the market in 2024, whether as a buyer or a seller, let a pro lead the way for you.

If you'd like to have an idea of how much your home is currently worth, click here for an instant automatic valuation.

This Month’s Must See Home for Sale

The choice for April's must-see home of the month is 1332 Meadow Crest Ave, listed at $635,000. This property was built in 1976 and it features 3 Bedrooms / 2 Bathrooms / 1,104 Sq Ft. Step inside to discover laminate wood flooring throughout, and a cozy living room, anchored by a wood-burning stove, creating a welcoming atmosphere where you can gather with loved ones on chilly evenings. The kitchen is equipped with newer stainless steel appliances including a modern refrigerator with double doors and a see-through feature, adding a touch of contemporary elegance to the space. To make your move even easier, this home is being sold fully furnished, featuring a Peloton exercise bike and a snowblower. The primary bathroom has been updated with travertine tiles. But what truly elevates this home's appeal is the undeniable value found in its recent replacement of all major components. From the new furnace to the 50-gallon gas water heater, energy-efficient double-pane vinyl windows to the roof, this investment guarantees years of worry-free living, promising both comfort and peace of mind for you and your family. Outside, you'll find a side gate that provides access for RV parking or boat storage. The fenced-in backyard offers a spacious deck, newer hot tub, a horseshoe pit and a cozy sitting area with a gas firepit where you can relax and unwind under the stars. Situated less than a 10-minute drive from Heavenly Ski Resort, you'll have easy access to world-class skiing and snowboarding during the winter months. During the summer, explore the shops and restaurants at the nearby Heavenly Village or try your luck at the casinos. 

1332 Meadow Crest Drive, South Lake Tahoe, CA

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This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 2157 Balboa Dr, listed at  $6,998,000. This home was built in 1961 and it features 5 Bedrooms / 5.5 Bathrooms / 4,900 Sq Ft / 2 Car Garage. This exquisite waterfront home epitomizes luxury living with its unrivaled combination of breathtaking views, convenient lake access, and meticulous craftsmanship. Situated against the backdrop of the majestic Mt.Tallac and Maggies Peaks, every corner of this recently and extensively remodeled retreat exudes elegance and sophistication. Stepping inside, the expansive great room immediately captivates with its soaring ceilings, oversized windows, radiant heat and cool floors, and panoramic vistas offering the perfect setting for both intimate gatherings and grand celebrations alike. The heart of the home is undoubtedly the gourmet kitchen, a chef's dream, featuring top-of-the-line appliances, sleek quartzite counters and a spacious heated island perfect for culinary creations. Adjacent to the main kitchen lies a discreet butler's kitchen, equipped with additional appliances and and ample storage space. With five spacious bedrooms and five and a half baths, this residence accommodates family and guests. Each ensuite bedroom is a sanctuary unto itself, offering privacy, comfort and breathtaking views of the surrounding landscape. Outside, the large deck beckons for al fresco dining and relaxation. With direct lake access, adventure awaits just beyond your doorstep. 

2157 Balboa Drive, South Lake Tahoe, CA

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This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 3624 Paradise Ave, listed at $459,000. This property was built in 1949 and it features 1 Bedroom / 1 Bathroom / 517 Sq Ft. Enchanted log cabin with pristine historic charm invites you to step back in time and enjoy the cozy comforts of a true, original Tahoe Get-Away. While the lovely log-home-feel has been preserved this cutie has been updated with new kitchen flooring & carpet, new fireplace insert, new heater, new paver driveway and bear box, and a newly tiled bathroom. It's ready to be enjoyed and offers walking distance convenience to many restaurants on Ski Run, the Ski Run Marina & Beach, as well as the nearby stop for the Heavenly Valley Ski Resort shuttle and a popular grocery store. This is an absolutely unique opportunity to own an endearing cabin outfitted with 1 bedroom, 1 bathroom, a large sleeping loft, and a beautiful floor to ceiling fireplace. Situated on a dreamy lot with open space to the right, on a quiet street, yet very close to all that South Lake Tahoe has to offer. 

3624 Paradise Avenue, South Lake Tahoe, CA

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