The stats indicate a rebound in our local housing market. Although sales and prices have declined on a year-over-year basis, the market is showing signs of resilience and stability. Increased competition, fewer price reductions, and a shorter time to pending status are positive indicators for the future. The impact of rising interest rates and the shortage of homes for sale will continue to influence the market dynamics in the coming months.

In South Lake Tahoe the median sales price is down compared to the same month last year. Courtesy of higher interest rates. The amount of homes sold in June is down 40% compared to a year ago. The amount of new listings coming up on the market in June of 2023 was down 16% compared to the previous year and inventory level is down 29% compared to 2022.

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This Month’s Must See Home for Sale

The choice for June's must-see home of the month is 1708 Mohican Dr, listed at $998,000. This property was built in 2003 and it features 3 Bedrooms / 2.5 Bathrooms / 2,398 Sq Ft / 2 Car Garage. Pride of ownership shows in this well maintained home. Step inside and be captivated by the open floor plan, allowing for effortless flow and a sense of spaciousness. Abundant natural light floods through the numerous windows, creating a bright and inviting ambiance throughout. Imagine waking up every morning to the peaceful views of unbuildable forest service lots conveniently located both in the front and back of the property, ensuring privacy and serenity for years to come. The wonders continue outside, featuring 2 decks and a vast, fully fenced backyard. The long paving stone driveway provides ample parking space and adds an extra touch of elegance to the curb appeal. Embrace the adventurous spirit of Lake Tahoe as you explore the natural wonders that surround you. Within close proximity to 2 golf courses, hiking / biking trails, Lake Baron and easy access to local Ski Resorts. 

1708 Mohican Drive, South Lake Tahoe, CA

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This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 3567 Saddle Rd listed at  $7,200,000. This home was built in 2006 and it features 4 Bedrooms / 5 Bathrooms / 5,379 Sq Ft / 3 Car Garage. This extraordinary private gated 5-acre lakeview estate offers panoramic lake and mountain vistas. Step inside this architectural marvel with 4 bedrooms and 3 full & 2 half baths, every detail has been meticulously crafted to harmonize with the surrounding natural splendor. The moment you enter, you are greeted by the sight of the crystal-clear waters of Lake Tahoe. Soaring vaulted ceilings and massive timber purlins enhance the great room which features a beautiful stone fireplace, a wet bar, and a soothing water feature. In the chef's kitchen equipped with thermador appliances, sandstone counters, and custom cabinets complement the panoramic views of Mt. Tallac. The primary suite is the perfect retreat, relax by the fire or in the spa-like bathroom. Located near the base of Heavenly Ski Resort, near Ski Run Marina, and steps from the famous Powerline bike trail, this estate offers convenient access to everything that the jewel of the Sierras has to offer! 

3567 Saddle Road, South Lake Tahoe, CA

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This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 1149 Martin Ave, listed at $399,000. This property was built in 1960 and features 2 Bedrooms / 1 Bathroom / 959 Sq Ft. Priced to sell and ready for your personal touches. Home features vaulted open beam wood ceilings, two bedrooms on main level plus a spacious loft with balcony on second level. Loft overlooks living space and has the washer/dryer plus a large storage area next to it. The open wood brick fireplace provides a cozy place to get warm on those cold mountain days. Open layout of the main living space gives a much larger feel than the square footage. Front yard has new lawn and backyard cleaned up with a relaxing natural setting. Centrally located, this home is perfect for the full-time resident or second home owner. Close to beaches, restaurants, bike trails and much more. Home being sold as is and in need of repairs. 

1149 Martin Avenue, South Lake Tahoe, CA

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