Lake Tahoe State of the Market Report
Over the last 2 weeks, 30 properties sold in the North Lake Tahoe and Truckee area. These sales range from a $6 million dollar luxury listing in Lahontan, to an old Tahoe lakefront home in Meeks Bay that sold for $3.1 million.
Several lakefront and lakeview condos also sold recently. One in Tahoya Shores that sold for $400K and a lakeview Tahoe City condo in Dollar Hill that sold for $704K.
We are not seeing the same number of listings coming onto the market. In February, the absorption rate was signaling a transition from a seller’s to a buyer’s market. March listings against sales may drive the absorption rate higher, keeping this transition from happening. In either case, home values are remaining relatively steady.
Of the new listings to come onto the market, we had 2 condos in Kingswood Village ranging in price from $650K to $779K.
Featured New Listings
One of my favorite new listings is a cute little chalet on Northwoods Boulevard in Tahoe Donner, listed at $699K.
In Ridgewood Highlands, there is also a new listing on over half an acre, close to the great trails near the Dollar Point reservoir. It is listed at $1,899,000.
Who would have thought that a Tahoe Park A-frame would be listed at $1,350,000? This new listing in the Tahoe Park Heights neighborhood comes with access to the Lake Tahoe Park Association, with lakefront beach, pier, and picnic areas. This shows how Lake Tahoe market values continue to hold steady.
On the West Shore, there are currently only 10 listings, which includes a stunning $21 million dollar lakefront, legacy estate. This sprawling 2.8 acre property infuses the elegance of a French country chateau with the joie de vivre of a Napa retreat, all artisanally designed and crafted on beautiful Lake Tahoe. This property provides a sense of vastness and privacy.
See all new listings here.
Lake Tahoe will always have a strong demand for the outstanding quality of life with a lack of new developments that would offset rising values. We expect to see more listings hit the market during the summer of 2023.
This is a great time to list your property for sale. Contact me today for a free market evaluation of your home.