The Lake Tahoe real estate market is a dynamic and competitive environment, with various trends and statistics shaping the region’s housing landscape. From median sale prices to luxury real estate, this comprehensive guide delves into the key insights and data points that define the Lake Tahoe real estate market.
Lake Tahoe Housing Market Trends
Median Sale Price
The median sale price of a home in Lake Tahoe was $905,000 last month, down 7.2% since last year. The median sale price per square foot in Lake Tahoe is $590, down 2.2% since last year.
Competitiveness
The Lake Tahoe housing market is somewhat competitive, with a Redfin Compete Score rating of 0 to 100, where 100 is the most competitive. Homes in Lake Tahoe sell for about 1% below list price and go pending in around 40 days.
Home Offer Insights
Some homes in Lake Tahoe receive multiple offers, and hot homes can sell for about 1% above list price and go pending in around 26 days.
South Lake Tahoe Housing Market Trends
Median Sale Price
The median sale price of a home in South Lake Tahoe was $652,000 last month, down 1.8% since last year. The median sale price per square foot in South Lake Tahoe is $499, down 6.7% since last year.
Competitiveness
The South Lake Tahoe housing market is also somewhat competitive, with homes selling for about 3% below list price and going pending in around 52 days.
Migration Trends
Across the nation, 2% of homebuyers searched to move into South Lake Tahoe from outside metros, with San Francisco, Los Angeles, and Fresno being the top sources of inbound searches.
Lake Tahoe Luxury Real Estate
Median Home Value
The average South Lake Tahoe, CA home value is $677,406, up 2.8% over the past year and goes to pending in around 25 days.
Luxury Sales Volume
The Lake Tahoe luxury real estate market is characterized by a mix of high-end homes and condos, with sales volumes and median prices varying by region and micro-region.
Lake Tahoe Real Estate Inventory
Homes for Sale
There are 461 homes for sale in South Lake Tahoe, ranging from $2,000 to $35 million, including affordable condo/townhomes and 1-bedroom listings.
Inventory Levels
The inventory levels in Lake Tahoe vary by season and region, with some areas experiencing higher inventory levels than others.
Lake Tahoe Real Estate Sales Volume
Quarterly Sales Volume
The quarterly sales volume in Lake Tahoe is tracked by region and micro-region, with detailed reports available on sales volume and median home price trends year-over-year.
Year-over-Year Sales
The year-over-year sales volume in Lake Tahoe has been trending downward in some areas, with a 1.8% decrease in median sale price in South Lake Tahoe.
Lake Tahoe Real Estate Median Price
Median Home Price
The median home price in Lake Tahoe was $905,000 last month, down 7.2% since last year.
Median Price per Square Foot
The median price per square foot in Lake Tahoe is $590, down 2.2% since last year.
Q1 2024 Statistics for the Lake Tahoe Real Estate Market
Median Sale Price
The median sale price of a home in Lake Tahoe was $897,000 last month, down 8.1% since last year.
Sales Volume
The sales volume in Lake Tahoe during Q1 2024 was down compared to the previous year, with 34 homes sold in May this year, up from 20 last year.
Luxury Real Estate Market Performance in Lake Tahoe
High-End Sales
The luxury real estate market in Lake Tahoe is characterized by high-end sales, with some homes selling for above list price and going pending in around 26 days.
Luxury Inventory
The luxury inventory in Lake Tahoe includes high-end homes and condos, with varying levels of inventory by region and micro-region.
Additional Resources
- Redfin Compete Score: The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
- Zillow Home Value Index: The Zillow Home Value Index captures both the level and home values across a wide variety of geographies and housing types.
- TLUXP Market Reports: TLUXP provides quarterly real estate market analysis reports detailing sales volume and median home price trends year-over-year by region.
References
- Redfin. (n.d.). Lake Tahoe, Truckee Housing Market: House Prices & Trends | Redfin. Retrieved from https://www.redfin.com/neighborhood/66715/CA/Truckee/Lake-Tahoe/housing-market
- Zillow. (n.d.). South Lake Tahoe, CA Housing Market: 2024 Home Prices & Trends. Retrieved from https://www.zillow.com/home-values/40979/south-lake-tahoe-ca/
- Redfin. (n.d.). South Lake Tahoe Housing Market Trends – Redfin. Retrieved from https://www.redfin.com/city/18630/CA/South-Lake-Tahoe/housing-market
- Realtor.com. (n.d.). South Lake Tahoe, CA 2024 Housing Market | realtor.com. Retrieved from https://www.realtor.com/realestateandhomes-search/South-Lake-Tahoe_CA/overview
- TLUXP. (n.d.). Lake Tahoe Real Estate Market Reports. Retrieved from https://www.tluxp.com/real-estate/lake-tahoe-real-estate-market-reports.