South Lake Tahoe Monthly Market Update, February 2023
The current real estate market is experiencing historically low levels of inventory, which is creating a highly competitive environment for buyers. With fewer homes available for sale, prices are holding up, and properties are selling quickly. For sellers who are thinking about listing their home this year, it's important to act sooner rather than later to take advantage of the current market conditions.
Buyers, please don't lose hope. Inventory is expected to increase late in the Spring and throughout the Summer. If you're looking for an specific type of property, just reach out to us with more information about your search and we'll keep you informed if we run into any "coming soon" listings before they hit the market.
In South Lake Tahoe the median sales price is about the same compared to the same month last year. The amount of homes sold in February is down 51% compared to a year ago. The amount of new listings coming up on the market in February of 2023 was down 45% compared to the previous year.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - February 2023$800,000
- Median Sales Price - February 2022$805,000
- Number of Homes Sold - February 202323
- Number of Homes Sold - February 202247
- New Listings - February 202328
- New Listings - February 202251
- Total Number of Homes on the Market - February 202352
- Total Number of Homes on the Market - February 202259
- Number of Homes Under Contract - February 202335
- Number of Homes Under Contract - February 202252
- Average Days on the Market - February2023126
- Average Days on the Market - February 202260
- Number of Foreclosure Homes on The Market - February 20230
- Number of Foreclosure Homes on The Market - February 20220
- Number of Short Sale Homes on The Market - February 20230
- Number of Short Sale Homes on The Market - February 20220
This Month’s Must See Home for Sale
The choice for February's must-see home of the month is 3402 S Upper Truckee Dr, listed at $1,348,000. This property was built in 2017 and it features 4 Bedrooms / 3 Bathrooms / 2,728 Sq Ft. Delivering enduring warmth and mountain style, this impeccable residence sits in the restful confines of Christmas Valley and enjoys dramatic views of the surrounding peaks. Scores of recreational outlets are found nearby from the soothing waters of the Upper Truckee River to hiking/biking trails or quick access to Kirkwood and Sierra at Tahoe resorts. The home's clean lines, and soaring light-filled spaces gracefully frame the nearby mountains while showcasing exceptional levels of detail and workmanship. Rustic overtones of hand-scraped Acacia wood floors, Alder doors & mill works are complemented by design elements of natural stone, oil-rubbed hardware and glass. An airy and well-appointed kitchen features custom cabinetry, stainless appliances and chiseled-edge, leather finished granite counters. Generous bedrooms and tasteful baths, including a striking primary suite, exceed expectation.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1399 Wildwood Ave $3,188,000. This home was built in 2012 and it features 7 Bedrooms / 7.5 Bathrooms / 6,159 Sq Ft / 3 Car Garage. This nearly 1-acre parcel is surrounded by large, forested lots to provide rarely found seclusion this close to the Face of Heavenly Ski Resort. Substantial in scale, the great room delivers a classic lodge feel with towering cedar ceilings, hickory floors and a grand river rock fireplace. Extensive and well-appointed, the kitchen offers a huge center island, 48'' cooktop, double ovens, 2 sinks and a pantry. The upper deck has a covered roof that frames the neighboring forest and provides outdoor dining options, fireplace and custom built-in BBQ. The lower level features a generous game room with walk behind bar, custom home theater and an indoor pool, complete with sitting area, steam room and sauna. All 7 bedrooms provide ensuite baths with luxurious amenities and warm, comfortable decor.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 516 Emerald Bay Dr #421, listed at $275,000. This complex was built in 1972 and features 1 Bedroom / 1 Bathroom / 678 Sq Ft. This well-loved and maintained coveted end unit is just steps from the forest with multiple hiking and biking trails and a long walk or quick drive to Pope Beach and Fallen Leaf Lake. A short drive down Emerald Bay Road brings you to beautiful beaches, trail heads, historical sites and Camp Richardson amenities. Condo comes fully furnished and ready to move in and enjoy all Tahoe has to offer. Complete with a remodeled kitchen and bathroom and the only end unit in entire complex with a custom window in the living room, bringing in lots of natural light all day long. Complex has pool and hot tub for warm weather enjoyment. Convenient carport located directly below property for coverage from the snow and elements.
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