South Lake Tahoe Monthly Market Update, July 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 is within the same range compared to the month of July of 2022. The amount of homes sold in July is down 16% compared to a year ago. The amount of new listings coming up on the market in July of 2023 was down 15% compared to the previous year and inventory level is down 33% compared to 2022.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - July 2023$650,000
- Median Sales Price - July 2022$651,000
- Number of Homes Sold - July 202343
- Number of Homes Sold - July 202252
- New Listings - July 202388
- New Listings - July 2022104
- Total Number of Homes on the Market - July 2023147
- Total Number of Homes on the Market - July 2022220
- Number of Homes Under Contract - July 202369
- Number of Homes Under Contract - July 202249
- Average Days on the Market - July 202346
- Average Days on the Market - July 202257
- Number of Foreclosure Homes on The Market - July 20230
- Number of Foreclosure Homes on The Market - July 20220
- Number of Short Sale Homes on The Market - July 20230
- Number of Short Sale Homes on The Market - July 20220
This Month’s Must See Home for Sale
The choice for July's must-see home of the month is 1157 Country Club Dr, listed at $2,385,000. This property was built in 2004 and it features 3 Bedrooms / 3 Bathrooms / 3,248 Sq Ft / 2 Car Garage. One of a kind home on the 5th Lake Tahoe Golf Course in Myers with breathtaking 180 degree views of the golf course and mountains through large floor to ceiling windows. The house rests on a a center parcel of .3 acres with a vacant parcel of .25 acres adjoining the left side and an additional .28 acres vacant lot which adjoins the right side. The home was fully rebuilt in 2006 with 6 bedrooms and 5 baths, an expansive European style kitchen, granite countertops with huge island, counter depth refrigerator and freezer and a walk in pantry with separate sink. The recreation room which opens onto the back patio provides maximum entertainment potential with a full wet bar, pool table, TV, etc. Additional features include custom cabinetry throughout, central vacuum, approx. 250 sq .ft. of finished attic, laundry facilities on each level, oversized garage and paver walkways and driveway with hydronic snow melt system.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 2235 White Sands Dr listed at $3,645,000. This home was built in 1986 and it features 4 Bedrooms / 3 Bathrooms / 3,248 Sq Ft / 2 Car Garage. Coveted White Sands Drive fronting the big water of Spinnaker Cove can be yours with this well-designed Tahoe Keys waterfront residence encompassing over 3200 feet of living space. The spacious downstairs living floorplan offers a cheerful kitchen with plenty of counter space, breakfast nook, formal dining area, comfortable sunken living area centered around a stone fireplace and a secondary bedroom and full bath. The upper level includes a waterside primary suite with fireplace, work from home office and spa style bathroom with two additional guest rooms and bath. Enjoy family and friends in the huge family room with beautiful water and Mount Tallac views. Exterior features include 80ft of waterfrontage, upper wrap around waterside decks, flag stone patios with meandering walkways to a barbecue area, hot tub and impressive waterside deck and dock with two slips which can accommodate four boats. Beautiful furnishings included!
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 3344 Sandy Way #15, listed at $358,888. This property was built in 1961 and features 2 Bedrooms / 1 Bathroom / 812 Sq Ft. Enjoy the best of both worlds in this remodeled 2 bedroom, 1 bath condo with a heated pool and stunning lake views. This spacious and modern condo features a 1000 square feet living space, covered parking, a sleek kitchen and flooring, updated bathroom, and a reasonable HOA fee. You'll love the convenience of being close to shops, restaurants, and entertainment. Don't miss this opportunity to own your dream home in a prime location!
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