South Lake Tahoe Monthly Market Update, August 2023
Despite high mortgage rates, the market remains as competitive as ever thanks to strong demand coupled with tight inventory supply, due, in part, to those who purchased homes in recent years at record-low interest rates staying put. These and other factors form a perfect affordability crisis storm that continues to sideline many aspiring homeowners.
In South Lake Tahoe the median sales price went up this month, compared to the month of August of 2022. The amount of homes sold in August is up 19% compared to a year ago. The amount of new listings coming up on the market in August of 2023 was up 44% compared to the previous year and inventory level is now around the same level, compared to 2022.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - August 2023$680,000
- Median Sales Price - August 2022$640,000
- Number of Homes Sold - August 202368
- Number of Homes Sold - August 202257
- New Listings - August 202372
- New Listings - August 202250
- Total Number of Homes on the Market - August 2023163
- Total Number of Homes on the Market - August 2022169
- Number of Homes Under Contract - August 202342
- Number of Homes Under Contract - August 202265
- Average Days on the Market - August 202358
- Average Days on the Market - August 202266
- Number of Foreclosure Homes on The Market - August 20230
- Number of Foreclosure Homes on The Market - August 20220
- Number of Short Sale Homes on The Market - August 20230
- Number of Short Sale Homes on The Market - August 20220
This Month’s Must See Home for Sale
The choice for August's must-see home of the month is 1931 Mandan St, listed at $699,000. This property was built in 1969 and it features 3 Bedrooms / 2 Bathrooms / 1,416 Sq Ft. Welcome to your Tahoe cabin in the woods, thoroughly updated, yet maintains a cozy mountain charm. The downstairs living floor plan features an open living room, kitchen and dining room, all with distressed hardwood flooring, great light and access to the huge back yard. The kitchen boasts quality wood cabinetry, slab granite counters, a large peninsula bar and stainless appliances. Downstairs are also 2 bedrooms and a full bathroom with a jetted fub and separate tile shower. Upstairs is the primary bedroom, bathroom with travertine shower and floors and a large loft open to below. The exterior features full cedar siding, updated windows and doors, and a 2013 composition roof. Interior features and finishes include open beam vaulted wood ceilings as well as solid pine trim and doors. The massive back yard of the 1/3 acre lot is fully fenced allowing for a feeling of seclusion and privacy.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 973 Lakeview Ave listed at $6,55,000. This home was built in 2020 and it features 5 Bedrooms / 6 Bathrooms / 4,440 Sq Ft / 3 Car Garage. A rare ultra-custom lakefront new build boasting panoramic views and a 170' pier and 2 buoys. As you approach from the street you are greeted by a custom pivot gate opening to a heated driveway. The exterior is finished with stone, vertical cedar, timber posts and beams, and iron railings. The downstairs living floor plan boasts 10 foot ceilings and floor to ceiling windows capturing amazing views across the lake. A wet bar is great for entertaining and the 54 inch gas fireplace provides ambiance and warmth. The gourmet kitchen features a custom quartzite waterfall island and all Thermador professional appliances and extensive custom cabinetry. A ground floor suite looks out to the lake and has its own expansive bathroom, Upstairs, the central game room includes a 2nd wet bar and leads the separate media room. Facing the lake are 3 additional bedroom suites.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 929 Rubicon Trl, listed at $325,000. This property was built in 1977 and features 3 Bedrooms / 2 Bathrooms / 1,492 Sq Ft. This property is in a great location in the Highlands Woods neighborhood in the heart of South Lake Tahoe. For someone with vision and willing to put in the sweat equity or rebuild taking advantage of the special zoning on the property, this property is ready for you! The property has code violations that the buyer will need to address upon closing and interior access cannot be granted to the home per the city building department based on the safety hazards present. The location is prime with proximity to many great restaurants, the bike trail runs through the neighborhood connecting trails from the Al Tahoe neighborhood with many live events, concerts and festivals with lake access all the way through Pope, Camp Rich, Kiva & Baldwin Beach accessing some of the best beaches in South Lake Tahoe.
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