The 2023 market was characterized by high interest rates, financial market uncertainty, surprisingly strong demand (considering the first two issues), and an extremely low supply of new listings – which maintained upward pressure on prices, even as housing affordability dropped. Sales numbers plunged due to loan rates and the inadequate supply of homes for sale, while for prospective sellers, the motivation to move was reduced by the mortgage lock-in effect. With interest rates falling, and economic conditions and consumer confidence rebounding, the big question is how much do rates need to fall for buyers and sellers to start participating in the market in normal numbers again? Right now, the direction is trending positive.

 Yes, inventory is still limited. But we should start seeing more properties coming up for sale in the next few months.

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.

This Month’s Must See Home for Sale

The choice for January's must-see home of the month is 838 Capistrano Ave, listed at $649,000. This property was built in 1976 and it features 2 Bedrooms / 1 Bathroom / 1,064 Sq Ft. Stunning turn-key Tahoe handcrafted log cabin located in the coveted Al Tahoe neighborhood. The mountain cabin is situated on a large level lot with neighboring forest service lots on each side giving it the ultimate Tahoe setting for added privacy. Step inside and be amazed at the open concept floorplan with a spacious living area that offers a wood fireplace and large windows with abundance of natural light. Recently updated throughout with modern amenities for a comfortable living such as the brand new kitchen that features Whirlpool stainless steel appliances, beautiful granite countertops, and ample storage. Additional features to this charming cabin featuring knotty pine wood ceilings throughout, brand new luxury plank laminate flooring, recessed lighting, and new window coverings. Plenty of parking on the oversized driveway. This beauty is centrally located to all that Tahoe has to offer with easy access to outdoor recreational activities all year long. Minutes to lake & meadow access, bike trails, heavenly ski resort, shopping, restaurants, and much more!

838 Capistrano Avenue, South Lake Tahoe, CA

View photos and detailed information for 838 Capistrano Avenue, South Lake Tahoe, CA 96150...

READ MORE

This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 1979 Kokanee Way, listed at  $1,699,000. This home was built in 1991 and it features 3 Bedrooms / 2.5 Bathrooms / 2,500 Sq Ft / 2 Car Garage.  Turn-key, impeccably maintained waterfront home with fast lake access. Located just off the main Tahoe Keys lagoon, a large U shaped boat slip provides secure storage and easy boarding for your watercraft. An upstairs living floor plan boasts a large bright great room with vaulted ceilings and stunning water views. The dining room overlooks your yard and the lagoon while the living room includes a gas fireplace with stone surround, entertainment center, and large glass doors leading to the spacious upper back deck. Also on the top floor is the roomy master suite which includes a sitting area, a walk-in closet and view of Mt Tallac. Downstairs, are two additional bedrooms, a shared bathroom and the family room with a wet bar. The lower back deck leads to the fenced yard with a hot tub and overwater deck. Ownership in the Tahoe Keys allows access to the numerous neighborhood amenities including 2 private beaches, pier, tennis, 2 pools, pickleball, basketball, playground, and numerous neighborhood parks. Offered for sale fully furnished allowing for your immediate enjoyment. 

1979 Kokanee Way, South Lake Tahoe, CA

View photos and detailed information for 1979 Kokanee Way, South Lake Tahoe, CA 96150, MLS...

READ MORE

This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 1281 Bonanza Ave #8, listed at $315,000. This complex was built in 1965 and the unit features 2 Bedrooms / 1 Bathroom / 879 Sq Ft. The kitchen, living room, larger bedroom and hallway all have newer laminate wide planked floors with solid wood baseboards. All ceilings throughout have smooth drywall and recessed can lighting. Both bedrooms are spacious with large windows and a view of the tall pine trees. The bathroom has a large shower stall, newer vanity and plumbing fixtures. There is plenty of storage in the hall closet and bedroom closets as well as 3 storage closets in the carport. All windows were replaced with vinyl dual pane windows and a heavy duty security metal screen door was added to the front entry door. The exterior of the building has recently been upgraded with new wood siding and all new exterior paint. Walk to the forest at the end of the street or to the Bonanza neighborhood park. 

1281 Bonanza Avenue #8, South Lake Tahoe, CA

View photos and detailed information for 1281 Bonanza Avenue #8, South Lake Tahoe, CA 9615...

READ MORE