South Lake Tahoe Monthly Market Update, March 2020
While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, South Lake Tahoe is facing a sudden stop in economic activity with little guidance to when things may return to normal. The magnitude of impact may be significant for the South Lake Tahoe area given the importance of tourism to our economy.
How will the COVID-19 outbreak impact the South Lake Tahoe economy and, more specifically, the South Lake Tahoe Housing market? The correct answer is a rather unsatisfying “nobody knows.”
Home sales are currently trending at a healthy pace, close to their long-term average, and growth in home prices has been strong due to a lack of inventory. We will be watching the market closely and we will keep you informed regarding any changes or unusual market trends.
Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - March 2020$490,000
- Median Sales Price - March 2019$531,000
- Number of Homes Sold - March 202040
- Number of Homes Sold - March 201941
- New Listings - March 202061
- New Listings - March 201956
- Total Number of Homes on the Market - March 2020161
- Total Number of Homes on the Market - March 2019191
- Number of Homes Under Contract - March 202033
- Number of Homes Under Contract - March 201951
- Average Days on the Market - March 202090
- Average Days on the Market - March 201990
- Number of Foreclosure Homes on The Market - March 20201
- Number of Foreclosure Homes on The Market - March 20191
- 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 2188 White Sands Dr, listed at $2,295,000. This home was built in 1983 and it features 4 Bedrooms / 3.5 Bathrooms / 3,354 Sq Ft / 2 Car Garage. Situated on prestigious White Sands Dr, boasting 3,300+ sq. ft. of living space on an over-sized lot with 80+ feet of water frontage, this exquisite property is ready to go. Mature landscaping lends privacy to the backyard and private boat dock with deep water and excellent lake access. The upstairs living includes vaulted ceilings, windows all around with kitchen, breakfast nook, and spacious living area. The master suite is along this level with its master bath and private deck. The lower level offers secondary living with direct access to the backyard, 2 large guest rooms with shared bath and a junior suite with private bath.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 1141 Herbert Ave #A, listed at $275,000. This condo complex was built in 1964 and this unit features 3 Bedrooms / 2 Bathrooms / 1,161 Sq Ft. Move-in ready, ground floor unit located in Bavarian Village. Just minutes from Heavenly and Lake Tahoe, this condo has been nicely maintained. Located just steps from the community pool and hot tub as well as the upgraded laundry facilities. All of the bedrooms are spacious with nice size closets. The kitchen opens to the dining and living rooms allowing for great entertaining. There is a large storage closet off the porch to keep all of ones toys secure. Being offered fully furnished.
This Month’s Must See Home for Sale
The choice for March's must-see home of the month is 1008 Coyote Ridge Cir. This home was built in 2017 and it features 5 Bedrooms / 4.5 Bathrooms / 3,497 Sq Ft / 3 Car Garage. Crafted by one of the region's top builders, this new residence provides sweeping views, exceptional finishes & rarely found efficiencies. Covered in a blend of LP Smart siding, a profusion of stone and composite decking, the exterior offers a low maintenance, long lasting appearance. The practical floor plan allows quick access to expansive open living, highlighted by cathedral ceilings, lined in distressed timbers and walls of glass that frame distant mountain views. Richly finished cabinetry adorns the walls of a well-appointed kitchen that spills onto a covered stone patio, ideal for outdoor cooking/dining. Stone walkways meander through a lushly landscaped, fully fenced yard to a private hot tub. A lower family room tenders' media or gaming options plus a full wet bar and stunning French Oak floors. 5 generous bedrooms include 2 Master Suites with lavish fixtures and finishes, walk-in closets and plush carpeting. (2) 90% furnaces, added insulation and on-demand water heaters.
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