South Lake Tahoe Monthly Market Update, April 2020
As it has been reported last month, home sales are still trending at a healthy pace, and home values have been holding steady due to a lack of inventory. We are currently experiencing a seller's market but it should start shifting to a buyer's market in the next few months, as COVID restrictions starts to get loose and as inventory starts to grow.
Usually, the Spring months bring a surge of listings to the market. However, this month we have seen the amount of new listings decrease by 57% compared to the amount of new listings that entered the market in April 2019. It seems like sellers are still hesitant to put their home on the market however most buyers are not putting their search on hold. We have seen an increasing demand from buyers and homes have been going under contract on a daily basis. If you're a homeowner thinking about selling your property in 2020, you should try to take advantage of this low inventory and not wait until Summer when inventory starts to increase.
Interest rates are currently low. Hopefully they will continue to look attractive throughout the year, so it will help to stimulate the housing market.
Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - April 2020$502,500
- Median Sales Price - April 2019$475,000
- Number of Homes Sold - April 202032
- Number of Homes Sold - April 201945
- New Listings - April 202039
- New Listings - April 201992
- Total Number of Homes on the Market - April 2020159
- Total Number of Homes on the Market - April 2019217
- Number of Homes Under Contract - April 202022
- Number of Homes Under Contract - April 201951
- Average Days on the Market - April 202076
- Average Days on the Market - April 201982
- Number of Foreclosure Homes on The Market - April 20200
- Number of Foreclosure Homes on The Market - April 20190
- Number of Short Sale Homes on The Market - March 20200
- Number of Short Sale Homes on The Market - March 20190
This Month’s Most Expensive Home for Sale
The most expensive new listing that entered the market this month was 2155 Catalina Dr, listed at $2,495,000. This home was built in 1962 and it features 3 Bedrooms / 2 Bathrooms / 2,707 Sq Ft / 2 Car Garage. Situated on a large cul de sac lot (over 150 ft of waterfrontage) overlooking the wide West Channel, it has breathtaking views of Mt. Tallac and quick access to Lake Tahoe. This rare single story home has been partially remodeled yet has ample coverage to allow for additional modifications. Its tranquil landscaping has water features, quiet zen areas, a fire pit and even a private sandy beach. The large 40 ft boat dock is sure to please power boat as well as sailboat enthusiasts.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 2605 Bertha Ave, listed at $299,000. This single family home was built in 1961 and it features 2 Bedrooms / 1 Bathroom / 960 Sq Ft. This well maintained cabin is the perfect starter home or affordable second home in South Tahoe. The living area has vaulted open beam ceilings, solid pine paneling, and brand new carpet. There are two bedrooms with open beam ceilings that also have new carpet. The fully fenced yard has a large storage shed and a carport.
This Month’s Must See Home for Sale
The choice for April's must-see home of the month is 1846 Haidas Cir. This home was built in 2002 and it features 3 Bedrooms / 2 Bathrooms / 1,925 Sq Ft / 2 Car Garage. Ideally located for those seeking quiet surroundings, forested views, contemporary conveniences and within minutes to Heavenly skiing or relaxing on the beaches of Lake Tahoe. Downstairs living is a convenient plus and features a spacious and inviting open living area. Natural wood and skylights accentuate the vaulted ceilings while the gas fireplace invites one to kick off their shoes and relax. Overlooking the backyard are the kitchen and sunny dining area. Step out to the expansive decking perfect for outdoor entertainment.
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