South Lake Tahoe Monthly Market Update, September 2022
Although U.S. housing prices remain substantially above their year-ago levels, September’s report reflects a forceful deceleration.
The Federal Reserve’s aggressive moves to combat inflation have put upward pressure on mortgage rates. In September, the Fed issued its third consecutive rate hike of three-quarters of a percentage point. While the Fed doesn’t directly set mortgage rates, the mortgage market’s interpretations of the central bank’s moves will influence how much you pay for your home loan.
The U.S. supply of active listings remained higher than last year in September, but improvements failed to accelerate over last month as newly listed homes continued to drop. With higher rates resulting in less demand and fewer home sales, seller sentiment continues to decline and impact homeowner plans to list. Still, today's buyers have significantly more options than during the worst of the inventory crunch of the previous two years.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - September 2022$622,000
- Median Sales Price - September 2021$749,000
- Number of Homes Sold - September 202276
- Number of Homes Sold - September 202148
- New Listings - September 202243
- New Listings - September 202143
- Total Number of Homes on the Market - September 2022139
- Total Number of Homes on the Market - September 2021121
- Number of Homes Under Contract - September 202253
- Number of Homes Under Contract - September 202134
- Average Days on the Market - September 202267
- Average Days on the Market - September 202166
- Number of Foreclosure Homes on The Market - September 20220
- Number of Foreclosure Homes on The Market - September 20210
- Number of Short Sale Homes on The Market - September 20221
- Number of Short Sale Homes on The Market - September 20210
This Month’s Must See Home for Sale
The choice for September's must-see home of the month is 2052 Venice Dr, listed at $1,069,000. This home was built in 1980 and it features 4 Bedrooms / 2.5 Bathrooms / 1,828 Sq Ft / 2 Car Garage. This home has been updated with new flooring, paint, appliances, a spiral staircase and hot tub on the lagoon. This 4 bedroom, 2.5 bath home enjoys views of Freel Peak and the serenity of nature and a waterway. The home is being sold furnished with mountain-style furniture, appliances, and televisions, all a few years new. A boat slip at the Tahoe Keys Marina (#C-2) is included.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 314 Beach Dr, listed at $2,899,000. This home was built in 1986 and it features 4 Bedrooms / 4 Bathrooms / 3,036 Sq Ft / 2 Car Garage. Located on the coveted Beach Dr! Walk into this home and you'll be greeted by views of the Spinnaker Cove. Downstairs there is an oversized living room, dinning area, kitchen with eat in bar, and a large bedroom with en suite bathroom. The laundry room has plenty of storage. Upstairs enjoy the loft living area. There are 2 primary bedrooms that are oversized, one with views of the lake, and the other with views of the cove. There's a 3rd bedroom upstairs with a guest full bathroom. The backyard has a deck over the cove, plenty of entertaining space to hang out and enjoy the views. The house has a private dock.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was a condo at 555 Tahoe Keys Blvd #10, listed at $469,000. This property was built in 1975 and features 0 Bedrooms / 1 Bathroom / 977 Sq Ft. This immaculately updated property has a deep water boat slip, garage and a covered patio - perfect for warm summer evenings after playing on the lake all day. Inside, the flowing floorplan has several large windows to let the sunlight in, a wood burning fireplace centering the living room, a custom kitchen with granite countertops and stainless appliances and a loft separates the sleeping area perfectly. The HOA includes an indoor and outdoor pool, private beaches, hot tubs, security, tennis courts, a pier and so much more. Close to all that South Shore has to offer and being sold furnished.
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