Did Lake Tahoe’s summer sales market live up to expectations, or were there surprises?

Market Reports

Lake Tahoe Real Estate Market Report: August & September 2024

As the warm days of summer wind down and the Aspens show their beautiful colors, thoughts turn to Tahoe’s legendary snowfalls. The Lake Tahoe real estate market is shifting, reflecting a seasonal rise in activity and inventory. Here’s what’s been happening:

Lakefront Inventory

The market remains strong on the North and West Shores, with 19 lakefront properties available, starting at $4.1M. Recent sales include two notable transactions at $18.450M, both through Sotheby’s.

Ski Resort

Sales have held steady over the summer with 7 sales, averaging a price point of $2.477M. The ski resort condo market has 23 units for sale across the board, with a broad array of offerings from $318K up to $4.7M.

Increase in Single-Family Home Sales

Single-family home sales (excluding gated communities) rose from 64 in July to 93 since August 1, Of these, 46 were in Tahoe Donner, where two of my sales reflect strong demand as buyers secure their ski homes before the snow arrives.

Stability in Golf Community Homes

Golf community homes have seen steady sales with 16 transactions in the last 6 weeks, averaging $5.420M. Opportunities remain in sought-after communities like Lahontan, which currently has 21 homes for sale.

YOY Market Trends

Compared to 2023, the market is on track to surpass last year's 2,014 units sold, with 1,996 already closed in 2024 with a quarter left to go. Average price points are up an average 6% across the board. RealScout’s tracker shows 4,779 buyers actively searching in the Tahoe-Truckee area across all price points.

Whether buying or selling, the current Lake Tahoe market offers opportunities for both. Sellers benefit from strong pricing and steady demand, making now a great time to assess your home's value. Recent high-value sales highlight ongoing interest, even amidst economic shifts.

For buyers, now is an ideal time to secure a property before ski season. Inventory adjustments and seasonal pricing create opportunities to find the perfect fit.

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