South Lake Tahoe Monthly Market Update, October 2023
Due to relatively high mortgage rates, buyers entering the market are few. Likewise, low inventory and a reduced number of listings indicate sellers’ reluctance to sell.
Yes, inventory is limited. But chances are, you're only looking to buy one home. If you find it, you're set. So keep doing what you've been doing -- continue to keep an eye on listings and get ready to pounce when your real estate agent tells you about a home that's hit the market. At the same time, keep crunching the numbers to make sure you don't end up with a home you can't comfortably afford.
Meanwhile, if you're interested in selling your home, you're in a good spot. Due to limited inventory, properties in our region are experiencing shorter time on the market and are consistently selling for approximately 98% of their asking price on average.
In South Lake Tahoe, the median sales price has seen a notable increase compared to October 2022. However, the number of homes sold in October 2023 has decreased by 20% compared to the previous year. On a positive note, the number of new listings entering the market in October 2023 has surged by 31% compared to the previous year, and the inventory level has risen by 12% when compared to 2022."
If you'd like to have an idea of how much your home is currently worth, click here for an instant automatic valuation.
Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - October 2023$732,500
- Median Sales Price - October 2022$699,000
- Number of Homes Sold - October 202343
- Number of Homes Sold - October 202254
- New Listings - October 202355
- New Listings - October 202242
- Total Number of Homes on the Market - October 2023154
- Total Number of Homes on the Market - October 2022137
- Number of Homes Under Contract - October 202345
- Number of Homes Under Contract - October 202237
- Average Days on the Market - October 202359
- Average Days on the Market - October 202285
- Number of Foreclosure Homes on The Market - October 20230
- Number of Foreclosure Homes on The Market - October 20220
- Number of Short Sale Homes on The Market - October 20230
- Number of Short Sale Homes on The Market - October 20220
This Month’s Must See Home for Sale
The choice for September's must-see home of the month is 2363 MarshallTrl, listed at $849,000. This property was built in 1978 and it features 3 Bedrooms / 3 Bathrooms / 2,400 Sq Ft / 2 Car Garage. Spectacular Montgomery Estates home backing to trout creek and nearly surrounded by forest. Rare Octagon style home offers 3 spacious bedrooms with bonus large loft, 3 baths and 2 car garage. Coveted open concept living space and bonus of a large game room downstairs. A perfectly private getaway equipped with a hot tub, fenced backyard, A/C, stainless steel appliances and more. The open beam ceilings give a cozy feel to the main living area where you can enjoy the fireplace and views of the forest. The Tahoe lifestyle awaits you at this prime location within minutes to epic mountain bike trails, skiing at Heavenly, and town center.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 802 Lassen Dr listed at $2,449,000. This home was built in 1995 and it features 5 Bedrooms / 4 Bathrooms / 4,111 Sq Ft / 2 Car Garage. Along the tranquil and picturesque intersection of meadow and lagoon resides a home offering expansive grounds and a multitude of deck spaces that draw focus to the surrounding beauty. The well-appointed kitchen serves as the heart of the home, featuring a 64'' Frigidaire Gallery Series refrigerator, 36'' Thermador stove with Fisher & Paykel vent hood, undercounter KitchenAid microwave, and dual KitchenAid dishwashers, complete with a unique glass enclosed pantry with service bar. The master bedroom is drenched in sun through a wall of south facing wood cased windows, offering the next best thing to bathing outdoors. A playful bunk area with communal bathroom including two separate shower stalls is reminiscent of summer camp. A junior suite, two additional private bedrooms and another full bathroom provide enough lodging for the whole bunch. Enjoy peaceful kayaking directly out the back door, or exhilarating boating from the deeded boat slip located in the Tahoe Keys Marina located just one mile away!
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 2015 Arrowhead Ave, listed at $299,000. This property was built in 1957 and features 3 Bedrooms / 1 Bathroom / 480 Sq Ft. This property presents a unique opportunity to rehab or to rebuild on a large, level lot located in a desirable neighborhood near downtown Meyers. The house and unfinished 468 sq ft garage sit on a generous 10,019-square-foot lot. This peaceful and quiet neighborhood is located on a cul-de-sac street that leads to a beautiful hiking and biking trail, which takes you to the popular Lake Baron Tahoe Paradise Park and the Upper Truckee River.
Search Homes for Sale
See a list of all the properties that are currently for sale in South Lake Tahoe
What's My Home Worth?
Find out what your home is worth in today's market by requesting a home value report