South Lake Tahoe Monthly Market Update, September 2023
Despite ongoing difficulties in the Lake Tahoe housing market, such as higher mortgage rates and fewer available homes, the market is showing strong endurance. Going ahead, it's really important to strike a balance between the number of houses for sale and the number of people wanting to buy. If interest rates decrease a bit, it could help create a healthier and busier housing market.
Although there was a decline in sales in the month of September, the median home price in Lake Tahoe is expected to remain relatively high. The increase in market competition, with homes spending less time on the market and a higher percentage of homes selling above asking price, has influenced the rise in median home prices.
In South Lake Tahoe the median sales price is up, compared to the month of September of 2022. The amount of homes sold in September is down 50% compared to a year ago. The amount of new listings coming up on the market in September of 2023 was up 50% compared to the previous year and inventory level is now around the same level, compared to 2022.
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Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - September 2023$700,000
- Median Sales Price - September 2022$629,000
- Number of Homes Sold - September 202339
- Number of Homes Sold - September 202278
- New Listings - September 202366
- New Listings - September 202244
- Total Number of Homes on the Market - September 2023158
- Total Number of Homes on the Market - September 2022147
- Number of Homes Under Contract - September 202352
- Number of Homes Under Contract - September 202251
- Average Days on the Market - September 202357
- Average Days on the Market - September 202267
- Number of Foreclosure Homes on The Market - September 20230
- Number of Foreclosure Homes on The Market - September 20220
- Number of Short Sale Homes on The Market - September 20230
- Number of Short Sale Homes on The Market - September 20220
This Month’s Must See Home for Sale
The choice for September's must-see home of the month is 665 Yucatan St, listed at $719,000. This property was built in 1974 and it features 2 Bedrooms / 2 Bathrooms / 1,448 Sq Ft / 1 Car Garage. Classic Tahoe cabin in the woods on a quarter acre lot! Most of the lot backs to public land with easy access to miles of U.S.F.S. lands up the street. This super clean chalet features soaring open beam ceilings, 2 bedrooms downstairs, front to back double sleeping loft upstairs, one bathroom upstairs and one downstairs, Recent remodel includes granite counter tops in the kitchen and baths, wood floor in the kitchen, white-washed knotty pine paneling throughout the downstairs living areas, new on demand tankless hot water heater, huge wraparound deck overlooking a peaceful forested setting and separate RV parking.
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 394 Wedeln Ct listed at $2,625,000. This home was built in 1968 and it features 4 Bedrooms / 3 Bathrooms / 2,266 Sq Ft / 2 Car Garage. Soak up the coveted open water views to Lake Tahoe from this Tahoe Keys main channel home situated on a 11, 325 sq ft lot. With easy lake access, this home boasts an oversized dock that can accommodate four large boats and all of your water toys. Inside this 2,266 sq ft retreat, you will find 4 bedrooms and 3 full bathrooms, vaulted ceilings, a cozy gas fireplace and windows galore that let sunlight and beauty pour in from the majestic surroundings. This is a must see for those looking for amazing views!
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 2604 Pinter Ave, listed at $375,000. This property was built in 2007 and features 2 Bedrooms / 2 Bathrooms / 840 Sq Ft / 1 Car Garage. There is also ample parking for 2 vehicles in the driveway. The large fenced in back yard includes a raised deck, making it a great space for entertaining as well as a secure place for your canine friends. The home's interior includes a central heating system and the layout has an open kitchen/living room concept. Location to South Lake Tahoe bike path is less than a quarter mile away.
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