South Lake Tahoe Monthly Market Update, July 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 66% lower compared to last year. There is 133% 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 - July 2020$526,250
- Median Sales Price - July 2019$450,000
- Number of Homes Sold - July 2020140
- Number of Homes Sold - July 201976
- New Listings - July 2020127
- New Listings - July 201997
- Total Number of Homes on the Market - July 2020110
- Total Number of Homes on the Market - July 2019320
- Number of Homes Under Contract - July 2020170
- Number of Homes Under Contract - July 201958
- Average Days on the Market - July 202053
- Average Days on the Market - July 201974
- Number of Foreclosure Homes on The Market - July 20200
- Number of Foreclosure Homes on The Market - July 20190
- Number of Short Sale Homes on The Market - July 20200
- Number of Short Sale Homes on The Market - July 20191
This Month’s Must See Home for Sale
The choice for July's must-see home of the month is 1211 Julie Ln. This home was built in 2001 and it features 3 Bedrooms / 2 Bathrooms / 1,738 Sq Ft / 2 Car Garage. A rare find! Single floor living with plenty of room for family and friends to gather. Vaulted ceilings, skylights and an inviting gas fireplace add to the overall light and ambiance found throughout this home. The kitchen offers plenty of cabinet and counter space while the breakfast bar adds additional seating. Both guest bedrooms a full guest bath and a full laundry are located along the hallway The master suite, which includes a delightful vanity area, walk-in shower and large tub are located at the back of the home for extra privacy. Step out back and enjoy the private deck and hot tub area. Close to shopping, dining and beaches.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 2155 Catalina Dr, listed at $2,995,000. This home was built in 1962 and it features 3 Bedrooms / 2 Bathrooms / 2,707 Sq Ft / 2 Car Garage. Featuring over 150 ft of waterfront this extra large cul de sac lot provides outstanding views overlooking the wide West Channel. Quick easy access to Lake Tahoe from the massive 40 ft boat dock. A very rare single level home has been partially remodeled with coverage available to allow for future improvements. Multiple areas for outdoor entertaining include a private sandy beach and many spots to relax among the fully landscaped parcel. Centrally located on flat ground just a short walk or bike ride to the HOA amenities such as the indoor/outdoor pools, tennis courts, open green areas and private beach.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was a condo at 1223 Bonanza Ave #1, listed at $175,000. This condo was built in 1965 and it features 2 Bedrooms / 1 Bathroom / 812 Sq Ft. Nicely updated apartment next to public park and just minutes from Lake Tahoe! Spacious two bedrooms, one bath ground level unit. Updates include Pergo flooring, granite counter tops, and vinyl double-pane windows. Great location for accessing restaurants and transportation.
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