South Lake Tahoe Monthly Market Update, March 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 and we can prospect for off-market properties that fit your criteria.
In South Lake Tahoe the median sales price went down compared to the same month last year. The amount of homes sold in March is down 45% compared to a year ago. The amount of new listings coming up on the market in March of 2023 was down 82% 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 - March 2023$615,000
- Median Sales Price - March 2022$775,000
- Number of Homes Sold - March 202331
- Number of Homes Sold - March 202256
- New Listings - March 202317
- New Listings - March 202296
- Total Number of Homes on the Market - March 202350
- Total Number of Homes on the Market - March 202278
- Number of Homes Under Contract - March 202314
- Number of Homes Under Contract - March 202270
- Average Days on the Market - March 202377
- Average Days on the Market - March 202242
- Number of Foreclosure Homes on The Market - March 20230
- Number of Foreclosure Homes on The Market - March 20220
- Number of Short Sale Homes on The Market - March 20230
- Number of Short Sale Homes on The Market - March 20220
This Month’s Must See Home for Sale
The choice for March's must-see home of the month is 2293 Washington Ave, listed at $1,298,000. This property was built in 2023 and it features 4 Bedrooms / 3 Bathrooms / 2,416 Sq Ft / 2 Car Garage. Just finished by long time local builder Wigart construction the house is located on a quiet street at the entrance to the Tahoe Keys. Flat ground living creates easy access to the river, meadow, bike paths, marina and local restaurants. Cedar lap siding with a paver stone driveway providing entry to the house. Upstairs living with a large south facing deck with mountain/forest views. A guest bedroom and the master bedroom/bath are located on this upper level. Hardwood floors throughout with a large open living/kitchen area with gas fireplace surrounded by stone and log mantle. Stainless steel appliances, knotty alder cabinets, and granite counter tops with full backsplash compliment the kitchen. Three FULL bathrooms all with heated floors, stall showers and a free standing tub in the master. Downstairs are two more bedrooms, laundry room, and a large game room with gas fireplace and wet bar.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 1853 Venice Dr $1,795,000. This home was built in 1972 and it features 4 Bedrooms / 3 Bathrooms / 2,224 Sq Ft / 2 Car Garage. A Lake Tahoe waterfront home designed to combine modern comforts and amenities with Lake Tahoe Mountain charm. This home has been recently remodeled from top to bottom with high end finishes. Located across from expansive open space where an abundance of hiking and cross-country skiing can be enjoyed just steps from your front door. Summer fun awaits you with a large deck to enjoy hot tubing or sit around your gas fire pit. Large fenced back yard leads to a u-shaped dock (3 boat capacity) for a day filled with fun on the lake. A warm interior with an upstairs open floor plan that offers a gourmet kitchen, vaulted ceilings, and use of wood and stone throughout. The kitchen features a center island with seating, six burner gas range, custom cabinets, chiseled edge granite counter tops and stainless steel appliances. This home comes furnished.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 744 Anita Dr, listed at $349,000. This property was built in 1959 and features 3 Bedrooms / 2 Bathrooms / 1,400 Sq Ft. Cash Buyers Only. This is an opportunity to reimagine and revitalize a property that has seen better days in the Tahoe Island neighborhood. This is a fixer upper with lots of potential, just waiting for someone with the vision and skills to bring it back to life. This property requires some attention, but offers great value for someone willing to put in the effort. Property is close to the bike path to Camp Richardson Resort, South Shore beaches, incomparable trails and world class ski resorts. Being sold AS IS.
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