South Lake Tahoe Monthly Market Update, August 2020
This is one of the hottest markets we've ever had in South Lake Tahoe. Listings are still coming up at a usual pace, however, they are going pending as soon as they hit the market. Therefore, low inventory and high demand are continuing to drive home values up.
We've seen a trend of home buyers wanting to leave the Bay Area and buy a home in Lake Tahoe when some of them realized that they can work from home and live anywhere. Therefore the demand for purchasing homes has been much higher than the previous year and the inventory is not catching up with the demand.
Our inventory is currently 68% lower compared to last year, and we have 117% more homes under contract compared to the same month in 2019.
If you are a homeowner thinking about selling your home this year, this is a good time to put your home on the market. If you'd like to have an idea of how much your home is currently worth, click here for an instant automatic valuation.
Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - August 2020$600,000
- Median Sales Price - August 2019$497,000
- Number of Homes Sold - August 2020155
- Number of Homes Sold - August 201966
- New Listings - August 2020148
- New Listings - August 2019129
- Total Number of Homes on the Market - August 2020113
- Total Number of Homes on the Market - August 2019359
- Number of Homes Under Contract - August 2020141
- Number of Homes Under Contract - August 201965
- Average Days on the Market - August 202056
- Average Days on the Market - August 201969
- Number of Foreclosure Homes on The Market - August 20200
- Number of Foreclosure Homes on The Market - August 20192
- Number of Short Sale Homes on The Market - August 20200
- Number of Short Sale Homes on The Market - August 20191
This Month’s Must See Home for Sale
The choice for August's must-see home of the month is 3371 Lake Tahoe Blvd #1D. This townhouse was built in 2006 and it features 3 Bedrooms / 3 Bathrooms / 1,787 Sq Ft / 1 Car Garage. 1/4 Share Lakefront Luxury Town-home at Sierra Shores. This coveted private community offers a truly unique opportunity with a combination of carefree living as well as an exemption from Measure T restrictions. Located inside the Tourist Core this unit comes ready to rent right away. Top of the line amenities include pool, hot tub, gym, gated access, and 270 ft of private sandy beach along Tahoe's South Shore. If you love attention to detail this is the place for you. Interior features high end finishes, 10 ft ceilings, slab counters, stainless steel appliances, gorgeous bathroom details, Slate gas fireplace, and breathtaking lake views. Everything inside is professionally designed and maintained from the upscale furniture down to the artwork and decor. This is a ground level unit so you walk right outside the great room and enjoy the park-like setting with meticulous landscaping, lush lawn, and private stairway to the beach. Come enjoy lakefront living at a fraction of the price.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 225 Beach Dr, listed at $4,880,000. This home was built in 1983 and it features 4 Bedrooms / 4 Bathrooms / 3,692 Sq Ft / 2 Car Garage. Lakefront living on aprox 100 ft of sandy beach is offered with this fabulous Tahoe Keys home located on the quiet cul-de-sac of coveted Beach Drive. The grand staircase leads to a reverse floor plan allowing for spacious upstairs living where tall ceilings, walls of glass and celestial windows showcase dramatic lake and mountain views. The upper level features a light filled kitchen finished with slab granite and top of the lines appliances. The elegant lakeside master suite has a huge walk-in closet and stylish spa bathroom finished with loads of marble. The lower level includes a generous size family room w/ walk around bar and two more ensuite bedrooms. The attractive exterior is surrounded by boulder studded gardens, lush green lawns and recently refurbished with new paint, roof, Anderson windows and composite decking. It includes a 30 ft. boat slip just steps away and all furnishings.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was a condo at 516 Emerald Bay Rd #123, listed at $215,000. This condo was built in 1972 and it features 1 Bedroom / 1 Bathroom / 678 Sq Ft. Boho chic unit located within the St Francis of the Woods Condominium, nestled in the trees and backs to national forest. The convenient location is just minutes from grocery stores, multiple trail-heads, the bike path to Tahoe beaches, and several eateries and breweries. You will love how functional this space is, the kitchen features a gas range, modern concrete counter tops, and a stack-able washer/dryer. The bathroom has a been beautifully updated. The open living room boasts of a sliding glass door that leads you to a peaceful balcony deck that has gorgeous forest views.
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