South Lake Tahoe Monthly Market Update, August 2021
As I type the August's Market Update Report, the Caldor Fire is about 50% contained. The evacuation order has been lifted on most of South Lake Tahoe. However, some areas in the County are still under mandatory evacuation. This past week has been really scary, tragic for some, and it probably changed the life of a lot of people. We don't know how this situation will affect the local real estate market. It's too early to tell but we'll keep everyone informed regarding future market trends.
In August our current inventory was approximately the same amount as it was in the same month last year. However, that's still about 60% lower than prior years, pre-pandemic. There were only 49 new listings coming up on the market last month, compared to 154 new listings in August last year. The median sales price in August was up 18% compared to the same month last year, while the number of closed sales was down 56% .
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - August 2021$708,000
- Median Sales Price - August 2020$600,000
- Number of Homes Sold - August 202169
- Number of Homes Sold - August 2020158
- New Listings - August 202149
- New Listings - August 2020154
- Total Number of Homes on the Market - August 2021113
- Total Number of Homes on the Market - August 2020133
- Number of Homes Under Contract - August 202158
- Number of Homes Under Contract - August 2020137
- Average Days on the Market - August 202153
- Average Days on the Market - August 202056
- Number of Foreclosure Homes on The Market - August 20210
- Number of Foreclosure Homes on The Market - August 20200
- Number of Short Sale Homes on The Market - August 20210
- Number of Short Sale Homes on The Market - August 20200
This Month’s Must See Home for Sale
The choice for August's must-see home of the month is 1968 Piute St. This property was built in 2008 and it features 3 Bedrooms / 3 Bathrooms / 2,238 Sq Ft / 2 Car Garage. Contemporary home located in the popular Meyers neighborhood. Upstairs living is centered around the great room featuring vaulted ceilings, gas fireplace and inviting wood floors. The large kitchen is a chef's delight with an abundance of cherry cabinets, granite countertops and modern appliances including a gas range. Located on this same floor is the master ensuite ideal as a retreat following a day of the Tahoe lifestyle. The lower floor includes a family room, two guest bedrooms and a guest bath.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1681 Venicce Dr, listed at $1,899,000. This home was built in 1972 and it features 5 Bedrooms / 4 Bathrooms / 2,213 Sq Ft / 2 Car Garage. Extensively renovated home with easy lake access in the exclusive Tahoe Keys. The downstairs living floor plan has been opened for a seamless flow between the living area and your waterfront backyard and private boat dock. A chef's kitchen has been fitted with commercial style Viking appliances, a custom waterfall quartz bar, and beautiful solid wood cabinetry. The great room features a linear gas fireplace with solid stone surround, stained wood ceilings and recessed LED lighting. A wall of windows looks out to the landscaped and private yard. Upstairs are 5 bedrooms and 3 full bathrooms providing room for guests, home office(s), or a large family.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 516 Emerald Bay Rd #202, listed at $285,000. This comdo was built in 1972 and it features 1 Bedroom / 1 Bathroom / 480 Sq Ft. This condo is centrally located only a short bike ride away from Lake Tahoe's premiere sandy beaches, restaurants/bars, shopping, and much more. The layout offers a spacious living area with a fully remodeled bathroom, partially remodeled kitchen, and a comfortable bedroom enclosed with stylish reclaimed barn doors. The ground level living offers direct access from the back patio to the fully fenced in outdoor pool. This swanky unit is truly a diamond in the rough and is one of the only properties in all of Lake Tahoe for sale under $300k.
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