South Lake Tahoe Monthly Market Update, January 2022
January is typically one of the slowest months for residential real estate in our area, as people mostly hunker down in their homes rather than try to leave for a new one. But during Covid times, you can throw historical patterns out the window. This January was shaping up to be the most competitive month in housing history. The number of homes for sale fell to a new low, as listings hit the market at a slower rate than they did early last year. Yet homebuyer activity rose due to Buyers pouring into the market to claim a home before mortgage rates rise further.
In January our current inventory is hitting a record of an all time low. Overall, the housing inventory is about 70% lower than prior years, pre-pandemic. There were 37 new listings coming up on the market last month, compared to 61 new listings in January last year. The number of closed sales was down 18% from last year, due to the lack of inventory.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - January 2022$627,000
- Median Sales Price - January 2021$635,000
- Number of Homes Sold - January 202240
- Number of Homes Sold - January 202149
- New Listings - January 202237
- New Listings - January 202161
- Total Number of Homes on the Market - January 202255
- Total Number of Homes on the Market - January 202172
- Number of Homes Under Contract - January 202254
- Number of Homes Under Contract - January 202162
- Average Days on the Market - January 202255
- Average Days on the Market - January 202151
- Number of Foreclosure Homes on The Market - January 20220
- Number of Foreclosure Homes on The Market - January 20211
- Number of Short Sale Homes on The Market - January 20220
- Number of Short Sale Homes on The Market - January 20210
This Month’s Must See Home for Sale
The choice for January's must-see home of the month is 1891 Bella Coola Dr, listed at $1,688,000. This property was built in 2004 and it features 6 Bedrooms / 4 Bathroom / 4,275 Sq Ft / 2 Car Garage. Luxurious tranquility surrounds this stunning mountain lodge home situated on a large lot in popular Tahoe Paradise. The massive stone hearth and gas fireplace, vaulted ceilings and wood floors invite guests to kick off their shoes and relax. Open to the great room is the custom kitchen featuring granite counters, knotty alder cabinets, a spacious breakfast bar and a convenient work center. The master suite offers an ideal retreat with a double sided fireplace large tub, walk-in shower and dual sinks. Additional hang-out areas include both a family and game room. To top it all off, three large decks and a hot tub create the ideal outdoor entertaining area. Mostly furnished.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1321 Ski Run Blvd, listed at $2,988,000. This home was built in 2009 and it features 7 Bedrooms / 6 Bathrooms / 5,710 Sq Ft / 4 Car Garage. One of a kind custom estate located just down the street from Heavenly Ski resort's CA lodge and walking distance to the lake, beaches and Ski Run Marina and shops. Set back nearly 500 feet from the street, this ultra rare property is situated on 1.09 acres and is surrounded by over 5 acres of US Forest and CA Conservancy land for the ultimate in privacy and seclusion. Rare downstairs living floor plan with a jaw dropping living room that boasts 24 foot cathedral vaulted ceilings with an amazing floor to ceiling stacked stone wood burning fireplace. Gourmet kitchen with 48 inch 6-burner cooktop. Other living areas throughout the house include a separate TV den, loft/game room with full wet bar, theater wired media room, and an attached but separate guest quarters with kitchenette and living room.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 2521 Armstrong Ave, listed at $500,000. This home was built in 1957 and it features 2 Bedrooms / 1 Bathroom / 1,147 Sq Ft. Centrally located and recently updated Tahoe home! This well-maintained residence has covered parking with an attached storage area for your Tahoe toys. The living area features brand new vinyl plank flooring, recessed LED lighting, fresh paint, and a gas fireplace. The spacious kitchen has granite slab counters, a stainless steel fridge, and a pantry. Just off of the kitchen is a laundry room with built-in cabinets, shelving, and room for storage! Each bedroom has brand new carpet, recessed lights, and new paint. Other features include vinyl frame double pane windows, a comp roof, and a fully fenced yard.
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