South Lake Tahoe Monthly Market Update, October 2019
The South Lake Tahoe housing market has been steady. Homes are not selling too fast but they are not languishing on the market for months either. The inventory of homes should start decreasing within the next few months. With the recent changes in the Vacation Rental Rules, and buyer's fear of a recession in the near future, our housing market has been showing signs of slowing down. Mortgage interest rates are currently very low, so hopefully that should help stimulate our market and maybe create opportunities for locals and first time home buyers.
Avg Days on Mkt
Stats Comparison from a Year Ago
South Lake Tahoe CA
- Median Sales Price - October 2019$466,000
- Median Sales Price - October 2018$365,000
- Number of Homes Sold - October 201983
- Number of Homes Sold - October 201888
- New Listings - October 201963
- New Listings - October 201867
- Total Number of Homes on the Market - October 2019268
- Total Number of Homes on the Market - October 2018233
- Number of Homes Under Contract - October 201962
- Number of Homes Under Contract - October 201845
- Average Days on the Market - October 201989
- Average Days on the Market - October 201895
- Number of Foreclosure Homes on The Market - October 20191
- Number of Foreclosure Homes on The Market - October 20180
- Number of Short Sale Homes on The Market - October 20190
- Number of Short Sale Homes on The Market - October 20180
This Month’s Most Expensive Home for Sale
The least expensive new listing that entered the market this month was 1790 Meadow Vale Dr, listed at $1,395,000. This home was built in 1994 and it features 8 Bedrooms / 5 Bathrooms / 3,388 Sq Ft / 2 Car Garage. Alluring masterful craftsmanship is evident at every turn throughout this elegant Country Club Estates executive style home. Throughout this unique masterpiece, one will experience the ideal blend of today's sought-after contemporary touches with the warmth of a Tahoe mountain lodge. Street floor living features an expansive great room featuring hand scraped solid hickory floors, a massive stack rock fireplace, vaulted wood ceilings, custom lighting and a spacious dining area. The gourmet kitchen features high-end professional appliances and a delightful breakfast nook which is currently set up as a reading corner. Step out onto the top floor deck and soak in the views of the Crystal Mountain range.
This Month’s Least Expensive Home for Sale
The least expensive new listing that entered the market this month was 1151 Herbert Ave #C, listed at $220,000. This condo complex was built in 1964 and this unit features 3 Bedrooms / 2 Bathrooms / 1,161 Sq Ft. Contractors Special! This Bavarian Village condo is within a close distance to Lake Tahoe and the California base of Heavenly Mountain resort. Take advantage of a central location and make the short drive to experience the nightlife of Tahoe including the newly updated Heavenly Village and the Casino Corridor. This is an upstairs unit that is a blank canvas waiting for your creative touch. Unit has new paint, but flooring has been removed in kitchen, living room, hallway, and all bedrooms. Bring your tools and an open mind and create the condo you've been waiting for.
This Month’s Must See Home for Sale
The choice for October’s must-see home of the month is 1620 Fairmeadow Trl. This home was built in 1974 and it features 3 Bedrooms / 2 Bathrooms / 1,180 Sq Ft / 2 Car Garage. Prime location in the desirable Meadow Lakes area of Montgomery Estates. The bright and open living room combines with the dining area, breakfast bar and spacious kitchen creating an ideal space for entertaining guests or relaxing by the fire. Step out the french doors onto the newly rebuilt deck w/ hot tub and into the fenced back yard area perfect for enjoying the Tahoe outdoors. Down the hallway you'll find the master bedroom w/ private full bath & sliding door to the back deck. There are 2 more good sized bedrooms & another full bath with extra space for the laundry room. The back bedroom could be used as an office or family room as well. Short walk to the meadow & a short drive to Lake Tahoe ski resorts and beaches.
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