What many anticipated to be a vibrant spring home-buying season has instead become a difficult ordeal for buyers already discouraged by a tough market. Home sales remained flat last month as mortgage rates and home prices continued to sit high. A small positive is the increase in resale inventory, which might help slow down the rise in home prices to some degree.

Nonetheless, experts believe that the market will only regain momentum once mortgage rates fall sufficiently to make homes more affordable and motivate homeowners with low-rate mortgages to consider moving.

In South Lake Tahoe, homes are staying on the market longer and experiencing more price reductions. Additionally, more listings have been coming up on the market in the past month. This is excellent news for buyers who can afford to buy now, as they have more options and greater leverage to negotiate seller concessions.

The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the market in 2024, whether as a buyer or a seller, let a pro lead the way for you.

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 June's must-see home of the month is 477 Ala Wai #79, listed at $820,000. This property was built in 1973 and it features 3 Bedrooms / 2.5 Bathrooms / 1,521 Sq Ft. Attention investors and visionaries! This waterfront townhouse offers a rare and exceptional investment opportunity. Among all the condos in Tahoe Keys, only 4 properties boast the distinction of being set up as two separate units. This unicorn stands as one of those rare four, making properties like this a precious find in the market. The main unit comprises 2 bedrooms and 1.5 baths, offering comfortable and spacious living. Additionally, a separate studio with a full kitchen has been beautifully remodeled, showcasing laminate wood flooring, custom butcher block countertop, stainless steel appliances, and its own washer/dryer. This unique property comes with not one but two boat slips within steps away from the unit, a feature that sets it apart from the rest. And here's the cherry on top - both units are being sold fully furnished, ready to welcome new residents or renters with open arms. With numerous investment options, you can choose to rent both units separately or reside in one while renting out the other. A one-car garage adds practicality, providing ample storage space for all your Tahoe toys. As part of the Tahoe Keys HOA, residents enjoy exclusive amenities, including indoor and outdoor pools, a private homeowner's beach, parks, and tennis courts.

477 Ala Wai Boulevard #79, South Lake Tahoe, CA

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This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 969-973 Lakeview Ave #A-B, listed at $12,980. These properties were built in 2020 and it features 11 Bedrooms / 12 Bathrooms / 8,808 Sq Ft / 6 Car Garage. Representing the essence of luxury lakefront living, this property blends opulence with enduring style and breathtaking natural beauty. Positioned on a -acre parcel and enjoying 120' of Lake Tahoe shoreline, these residences also include a 170' private pier with boat lift and 4 buoy moorings. Masterfully crafted to exceed the highest standards, this development was completed in 2020 and is comprised of 2 townhomes, which are offered separately or combined for an estate-like experience. Gated entries provide access to heated, cobblestone driveways and oversized 3-car garages with epoxy floors, custom dog washes, commercial ice makers and endless storage. Embodying a classic mountain style, the exterior is adorned in rustic cedar siding, natural stone, iron banisters and architectural accents. Downstairs living consists of 10' ceilings and walls of wood clad windows that perfectly frame the adjacent lake and provide quick access to the lushly landscaped and fully fenced backyard. Exquisite suites are all expansive in size and designer decorated, with the majority offering lake views and access to spacious composite decks. Each property comes fully furnished down to the linens, features A/C, whole home generator, Lutron lighting systems, blinds and curtains with some hard-wired for remote control use. This price is for the entire property and both townhomes! Each unit is being offered separately for $6,750,000.

969 Lakeview Avenue #A-B, South Lake Tahoe, CA

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This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 761 San Jose Ave, listed at $299,000. This property was built in 1953 and it features 2 Bedrooms / 1 Bathroom / 1008 Sq Ft. Just two blocks to Lake Tahoe and in the high sought out area of Al Tahoe. This is fixer-upper and an AS-IS Sale all cash only. Buyer to verify all property information. 

761 San Jose Avenue, South Lake Tahoe, CA

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