Monthly Market Update, March 2019!
The South Lake Tahoe housing market has been steady. The inventory of homes is currently low, but the inventory should start increasing as we get closer to Spring and Summer. With the recent changes in the Vacation Rental Rules, we are unsure of how that will affect the Housing Market over the next few months.
Avg Days on Mkt
The Numbers Month to Month and Year to Year
– The median sales price for South Lake Tahoe, CA Homes for Sale was $549,000 in March 2019, compared to $519,200 during March 2018.
– The number of South Lake Tahoe, CA Homes that sold in March 2019 was 33, and 51 homes sold in March 2018.
– There were 50 new listings entering the market this month.
– There are 49 South Lake Tahoe, CA homes for sale that are under contract which represents 30% of the overall 173 available inventory of homes for sale.
– Average days on the market: 90
– From the 173 homes for sale during March 2019, 1 of them were a foreclosure and 0 of them was a short sale.
A few highlights of the current South Lake Tahoe, CA Homes for Sale are shown below.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 2412 Cornice Court, selling for $3,795,000. Over-the-top features and amenities throughout this 7,386 sq. ft. 3 story masterpiece with extraordinary views of Mt. Tallac, Cathedral Peak and Lake Tahoe. ‘Triptych’ is a spectacular one-of-kind 2016 Patterson custom built home that is a true work of art and must be seen to be fully appreciated! Level entry, elevator, 5 gas fireplaces, laundry on all levels, family/game room with full bar, theater room, wine room, master wing upstairs with opulent bathroom, office, 2 steam showers and sauna. Gourmet kitchen with massive breakfast bar, Sub Zero refrigerator, Wolf range, 2 ovens, 2 microwave drawers, 2 Miele dishwashers, 3 sinks, prep kitchen and butler’s pantry. Heated 3 car garage, driveway, decks and walkways and off street parking, two water features, hand-hewn cedar decking and railings. A ‘true full automation smart home’ with Lutron lighting system, surround sound, heated wood and stone floors all which can be controlled from a tablet supported by Launchport docking stations.
This home was built in 2016. 7 beds / 8 baths / 7386 Sq Ft.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 3679 Larch Avenue, listed for $298,000. Classic Lake Tahoe studio cabin conveniently located just minutes from Heavenly Ski Resort and walking distance to the Casinos and beautiful shores of Lake Tahoe. This home features a rustic, yet refined look with knotty pine throughout. There is also a new Trex front deck, large fenced yard, and additional coverage to expand. Seller to credit buyer $5000 toward new driveway and BMPs!! This home was built in 1947 / 1 beds / 1 bath / 384 Sq Ft
This Month’s Must See Home for Sale
The choice for March’s must-see home of the month is 1121 Julie Lane. This adorable house is updated and centrally located. Walking distance to popular restaurants, breweries and shopping. Bike to the beaches nearby Camp Richardson or walk down the street to hike the Twin Peak’s recreational area. This home features 2 bdrm and 2 baths, as well as a bonus room that is currently being used as an office but it could be used as a 3rd bdrm. It has open beam ceilings and a charming gas fireplace. You will love to spend time entertaining with family and friends in the fenced-in back yard with natural stone patio and hot tub. This home has been very well maintained, upgrades include wood laminated floors, on demand tankless water heater, granite counter tops, stainless steel appliances, double pane windows, rain shower head and a large storage shed. The newer permeable paving stone driveway comfortably fits 2 cars. This home will serve well as either a full time residence or a lovely vacation getaway. This is one you MUST see. This home was built in 1953 / 2 beds / 2 baths / 1029 Sq Ft.