South Lake Tahoe Monthly Market Update, January 2023
The nation’s overall housing supply remains limited, as those who purchased homes in recent years at extremely low mortgage rates are staying put. This tight inventory has kept prices from seeing deeper declines, making homes still unaffordable for many, especially first-time homebuyers.
Even though home prices remain high year-over-year, they’re not as eye-popping as they were earlier this year. How far home prices dip in 2023 will likely depend on where mortgage rates go.
In South Lake Tahoe the median sales price is down 6% compared to the same month last year. The amount of homes sold in December is down 52% compared to a year ago. The number of homes on the market continues to be very low, hopefully we'll start seeing more listings coming up on the market in the Spring.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - January 2023$589,500
- Median Sales Price - January 2022$627,000
- Number of Homes Sold - January 202320
- Number of Homes Sold - January 202242
- New Listings - January 202322
- New Listings - January 202237
- Total Number of Homes on the Market - January 202360
- Total Number of Homes on the Market - January 202262
- Number of Homes Under Contract - January 202331
- Number of Homes Under Contract - January 202251
- Average Days on the Market - January 202369
- Average Days on the Market - January 202260
- Number of Foreclosure Homes on The Market - January 20230
- Number of Foreclosure Homes on The Market - January 20220
- Number of Short Sale Homes on The Market - January 20230
- Number of Short Sale Homes on The Market - January 20220
This Month’s Must See Home for Sale
The choice for January's must-see home of the month is 3587 Mackedie Way, listed at $1,125,000. This property was built in 2002 and it features 4 Bedrooms / 2.5 Bathrooms / 2,271 Sq Ft. Nestled at the foot of Heavenly Mt., this Tahoe lodge-style architecture features views from 3 sides in nearly every room. The uniquely designed custom windows and sliders draw your eye to the outdoors where a major landscaping project of granite boulders, a treasure trove of trees and flowers and LED lighting was recently completed. Lift your eye a little further to the horizon to view you the Crystal mountain range towering above the sparkling waters of Lake Tahoe. Sunny upstairs living features an inviting great room warmed by an oversized gas fireplace with stone hearth. The open kitchen invites all to gather and see "what's happening" around the island. Meal preparation is a breeze with easy access from all directions. Quality and detail abound in the home with built in cabinets for crystal and art displays, bookshelves, file cabinets, etched windows, German engineered hardware for doors. The three guest rooms, one currently set up as an office, are downstairs.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1468 Ski Run Blvd, listed at $4,525,000. This home was built in 2015 and it features 10 Bedrooms / 9 Bathrooms / 7,000 Sq Ft / 4 Car Garage. Enjoy a soak in the roof top hot tub with lake views, outdoor fireplace, & seating area. Entertain in the sports bar style game room with a full bar, foosball, shuffleboard, pool table and 4 massive televisions. Or catch a movie in the 22 seat theater with 124 inch screen. Plenty of room to spread out with 7000 SF, 10 bedrooms, 9 full baths, & privacy. All bedroom but one are en-suite. The covered deck with outdoor grill, & fireplace is the perfect spot to unwind. To complete the package is an indoor pool, & dry sauna, perfect for relaxing after a day on the slopes or boating on the lake. There's nothing lacking in this turnkey, contemporary, multilevel residence. Even the luxury furnishings from Restoration Hardware are included!
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 1064 Moss Rd, listed at $300,000. This property was built in 1947 and features 3 Bedrooms / 1.5 Bathroom / 1,184 Sq Ft. Investor or rehabilitation - you've got the location in this prime spot. Walking distance to the shops at Heavenly Village, the Casino Corridor, and to the Lake. Bring this cabin back to its original charm or start over. Sale will require an all cash purchase.
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