South Lake Tahoe Monthly Market Update, August 2022
National listing prices continued to grow by double-digits year-over-year in August, but the pace decelerated for the third month in a row. Until recently, asking prices kept accelerating due to the combination of still-high seller expectations and a shift in the mix of inventory to include more larger homes. However, data indicates that these trends are changing course, with listing prices per square foot also moderating. Even so, prices remain historically high and continue to rise more quickly than usual, which means affordability is still a challenge for buyers and that many homeowners are sitting on record-high levels of equity.
In August, inventory levels actually started to decrease again. We have seen more homes going pending and more sold homes in August compared to July. There are 64% more homes pending this year, compared with August of 2021.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - August 2022$642,500
- Median Sales Price - August 2021$699,000
- Number of Homes Sold - August 202254
- Number of Homes Sold - August 202170
- New Listings - August 202249
- New Listings - August 2021107
- Total Number of Homes on the Market - August 2022160
- Total Number of Homes on the Market - August 2021141
- Number of Homes Under Contract - August 202287
- Number of Homes Under Contract - August 202153
- Average Days on the Market - August 202253
- Average Days on the Market - August 202153
- Number of Foreclosure Homes on The Market - August 20220
- Number of Foreclosure Homes on The Market - August 20210
- Number of Short Sale Homes on The Market - August 20220
- Number of Short Sale Homes on The Market - July 20210
This Month’s Must See Home for Sale
The choice for August's must-see home of the month is 974 Cave Rock Av, listed at $1,378,000. This home was built in 2022 and it features 4 Bedrooms / 3 Bathrooms / 2,500 Sq Ft / 2 Car Garage. Mountain cabin, meets modern farmhouse. Beautiful new build walking distance to the lake. This spacious home sits on a large lot with ample sunlight, situated in the historic and charming Al Tahoe Forest neighborhood. The home features a gourmet kitchen with quartz countertops, custom blue pine range hood and LG stainless steel appliances. The craftsmanship of this home truly shines through when you look up at the rustic blue pine vaulted ceilings, open beams and dormer windows. The open living/ dinning room boasts a floor to ceiling gas fireplace, with Phazer log set burner and handcrafted mantle. In the primary bedroom you will find a custom walk-in closet, gas fireplace, en-suite with double sinks, stall shower and freestanding tub. The upstairs loft provides a generous amount of space, with open views of the entire home. With high-end fixtures throughout, Milgard windows, custom knotty pine doors and a Martin garage door, not a detail was missed.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 2249 Inverness Dr, listed at $1,989,000. This home was built in 1982 and it features 4 Bedrooms / 3 Bathrooms / 2,853 Sq Ft / 2 Car Garage. Completely renovated Tahoe Keys Smart House! This contemporary masterpiece features stunning finishes and smart home features throughout. The downstairs living floorplan has convenient access to the newer boat dock and spacious backyard. The designer kitchen is equipped with new stainless steel appliances including dual ovens and dishwashers, a gas cooktop, quartz counters, a pot filler, and a walk in pantry. There is a breakfast nook with a built-in coffee bar and a beverage fridge as well as a generous dining area. Upstairs is a second living area featuring vaulted ceilings, a gorgeous gas fireplace, and a massive picture window with stunning views of Mt. Tallac. The master suite has a walk-in closet and a spa like bathroom with a jetted jacuzzi tub, a floating dual sink vanity, and custom fixtures throughout.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 1084 Stockton Ave, listed at $399,000. This property was built in 1974 and features 2 Bedrooms / 1 Bathroom / 914 Sq Ft. This one is a contractor special, ready to be remodeled to your liking. Great in town location with a fully fenced backyard. Property is being sold as-is. Cash only.
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