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South Lake Tahoe Monthly Market Update, December 2023

Nanda & Jimmy Dozier

We truly understand the importance of listening, relating to our clients, communicating, being patient, problem solving and helping clients work towar...

We truly understand the importance of listening, relating to our clients, communicating, being patient, problem solving and helping clients work towar...

Jan 7 5 minutes read

We've experienced an uptick in December’s home sales as buyers took advantage of a slightly more favorable lending environment that provided them with a window of opportunity to enter the housing market. As buyers and sellers gradually adapt to the new normal, we are seeing a shift toward a more balanced market. With both sides slowly adjusting their expectations, it’s hopeful that we’ll see sales ratcheting higher as market conditions improve further throughout 2024.

 Yes, inventory is still limited. But chances are, you're only looking to buy one home. If you find it, you're set. So keep doing what you've been doing -- continue to keep an eye on listings and get ready to pounce when your real estate agent tells you about a home that's hit the market. At the same time, keep crunching the numbers to make sure you don't end up with a home you can't comfortably afford. 

Meanwhile, if you're interested in selling your home, you're in a good spot. Due to limited inventory, properties in our region are experiencing shorter time on the market and are consistently selling for approximately 98% of their asking price on average. 

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

Stats Summary 

December  2023

$623k

Median Price

25

New Listings

42

Homes Sold

96

Avg Days on Mkt

Stats Comparison from a Year Ago

South Lake Tahoe CA

  • Median Sales Price - December 2023
    $622,500
  • Median Sales Price - December 2022
    $665,000
  • Number of Homes Sold - December 2023
    42
  • Number of Homes Sold - December 2022
    38
  • New Listings - December 2023
    25
  • New Listings - December 2022
    25
  • Total Number of Homes on the Market - December 2023
    130
  • Total Number of Homes on the Market - December 2022
    82
  • Number of Homes Under Contract - December 2023
    31
  • Number of Homes Under Contract - December 2022
    34
  • Average Days on the Market - December 2023
    96
  • Average Days on the Market - December 2022
    92
  • Number of Foreclosure Homes on The Market - December 2023
    0
  • Number of Foreclosure Homes on The Market - December 2022
    0
  • Number of Short Sale Homes on The Market - December 2023
    1
  • Number of Short Sale Homes on The Market - December 2022
    0

This Month’s Must See Home for Sale

The choice for September's must-see home of the month is 888 Panka St, listed at $835,000. This property was built in 2008 and it features 4 Bedrooms / 2.5 Bathrooms / 1,987 Sq Ft / 2 Car Garage. Nestled in a tranquil corner, this impeccably designed two-story sanctuary comprises 3 bedrooms, 2.5 baths, and a sprawling 22x11 bonus room! Extensively remodeled in 2008 from its core, this residence harmonizes modern comforts with enduring sophistication, basking in an abundance of natural light. Carefully selected features encompass a central vacuum system, a tankless water heater, and fresh interior paint. Eleven sun tunnels flood the space with radiant daylight, while two gas fireplaces exude cozy warmth and allure. Unwind in the secluded hot tub within the fenced backyard oasis, complete with a serene fountain. ts proximity to local hiking and biking trails, water sports, and skiing, presents an unparalleled lifestyle experience. 

 

This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 3912 Cedar Ave, listed at  $2,100,000. This home was built in 1984 and it features 5 Bedrooms / 3 Bathrooms / 2,531 Sq Ft / 2 Car Garage. Exclusive offering in the gated lake adjacent community of Tahoe Meadows, a secure and tranquil locale in the heart of South Lake Tahoe that affords wide open spaces and access to the homeowners' sprawling sandy beach with pier and available boat buoys. This custom-built mountain modern residence boasts meticulous craftsmanship with an abundance of woodwork, natural stone, and aluminum clad wood framed windows, and comes fully furnished. The ground floor presents three bedrooms and two bathrooms, including a primary bedroom suite for convenient single level living. The second floor with lock-off capability provides complete separate living accommodations, including a sizable second living space, two additional bedrooms with excellent storage space, and a full bathroom. Sizeable boat storage is available in the adjoining exterior gated side area. To the rear resides a covered stone clad patio gazing out to an expansive sun drenched south facing back yard with Heavenly Mountain in the background.

 

This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 1827 Nez Perce Dr, listed at $425,000. This property was built in 1964 and features 2 Bedrooms / 1 Bathroom / 888 Sq Ft. Fantastic value on this Tahoe fixer upper property. Located in the county near biking, hiking, and skiing trailheads. Bike to Paradise Park for summer concerts and farmer's markets. The two bedroom one bath home features vaulted ceilings on a large lot. 

 

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