South Lake Tahoe Monthly Market Update, June 2020
Home sales are still trending at a healthy pace. We've seen a lot of homes entering the market this month. However, new listings have been 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 51% lower compared to last year. There is 165% 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 - June 2020$515,000
- Median Sales Price - June 2019$475,000
- Number of Homes Sold - June 202071
- Number of Homes Sold - June 201951
- New Listings - June 2020136
- New Listings - June 2019128
- Total Number of Homes on the Market - June 2020158
- Total Number of Homes on the Market - June 2019311
- Number of Homes Under Contract - June 2020154
- Number of Homes Under Contract - June 201958
- Average Days on the Market - June 202055
- Average Days on the Market - June 201958
- Number of Foreclosure Homes on The Market - June 20201
- Number of Foreclosure Homes on The Market - June 20190
- Number of Short Sale Homes on The Market - June 20200
- Number of Short Sale Homes on The Market - June 20191
This Month’s Must See Home for Sale
The choice for May's must-see home of the month is 3685 S Upper Truckee Rd. This home was built in 1981 and it features 4 Bedrooms / 3 Bathrooms / 2,575 Sq Ft / 2 Car Garage. Privacy and seclusion in a very special setting. This unique home is nestled on a rare parcel of 1.44 acres backing to the Upper Truckee River. The spacious living room offers a cozy wood burning stove. Enjoy the serene forest views from an abundance of windows. The backyard is perfect for entertaining with a large sunny deck and shaded patio area. Outdoor enthusiasts will love being close to the Upper Truckee Falls, Hawley Grade, Big Meadow Trailhead, and Round Lake. A short drive to Sierra-at-Tahoe, Kirkwood Ski Resorts. This home is attractively priced as some updating and TLC is needed. This property has huge potential. Don't miss this opportunity to transform this beauty into a perfect Tahoe sanctuary.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1325 Wildwood Ave, listed at $4,880,000. This home was built in 2020 and it features 5 Bedrooms / 6.5 Bathrooms / 5,200 Sq Ft / 2 Car Garage. Stunning mountain modern rustic home with endless style and creativity, situated in a small gated neighborhood, located at the base of Heavenly Ski Resort. Features include a top end chef's kitchen with Thermador appliances, three interior bars, jetted tubs, aroma therapy steam showers with built-in speakers, a theater room, an 88 speaker full house integrated surround sound system, a spectacular glass elevator, an unbelievable rooftop in-floor heated deck, with LED back-lit glass railings, fire pit, outdoor kitchen and 360 views of the lake and mountains, and so much more.
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 #203, listed at $180,000. This condo was built in 1972 and it features 1 Bedroom / 1 Bathroom / 480 Sq Ft. Step out the door and enjoy miles of endless recreation trails across US Forest land leading to Lake Tahoe, Camp Richardson and Fallen Leaf lake. There's more! Popular dining venues and shopping destinations are within a few short minutes. This ground floor unit offers covered parking, a large living room, efficiency kitchen and an ensuite. Best of all - no stairs! The kitchen features granite counters, a gas cook top and views of the common grounds. Step out the slider and enjoy the privacy of the covered patio overlooking the pool area ad forest. HOA fees cover exterior maintenance, snow removal, roof repairs, refuse, insurance, on site maintenance.
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