Tahoe Real Estate Unfiltered - May Market recap 2025

May Ignited the Tahoe Market

More listings, faster sales, and momentum building.

May always feels like a turning point in the Sierra—school’s about to be out, summer’s coming, and the market is shifting gears. This year? More choices, more strategy, and more opportunity for buyers and sellers alike.

May 2025 Market Snapshot by Lifestyle Segment

Single-Family Homes
🏠 26 sales | Avg Price: $1.1M | Median: $1.0M
Hot zones: Tahoe Donner, Prosser, North Shore

Golf Communities
⛳ 5 sales (est.) | Avg Price: $4.7M
High sale: Martis Camp (still leading the pack)

Ski Resort Homes (no condos)
🎿 2 sales (est.) | Avg Price: $1.7M | Median: TBD
Locations: Northstar, Olympic Valley

Lakefront
🌊 1 trophy sale at $5.65M

Condos
🏢 8 closings (est.) | Avg Price: $950K
Range: Entry-level retreat to lakeside stunner

What’s Driving the Divergence?

In May, the split between segments was especially clear. Luxury homes ($2M+) continued to set the pace with consistent demand—particularly in Martis Camp and lakefront properties. Meanwhile, the mid-market saw fewer transactions as buyers navigated higher interest rates and insurance costs.

👉 Average days on market dropped to 39 days, showing that well-priced homes—especially those in Tahoe Donner, Prosser, and Glenshire—are moving quickly. Buyers are still cautious with homes that need upgrades or extra TLC.

Market insights are based on data from the Tahoe Sierra MLS, CAR, IVR, STAOR, and NAR, plus additional brokerage and industry sources. Figures are preliminary and subject to change.

Lake Beat: Incline & South Lake Snapshots

Incline Village

Incline Village continues to attract high-net-worth buyers seeking Nevada’s tax-friendly lifestyle and classic Lake Tahoe charm.

• Single-Family Homes: 33 sales | Est. Avg Price: $2.3M
  Buyers are prioritizing move-in-ready homes with modern upgrades and easy lake access.

• IVGID Beach Access Updates:
  New rules emphasize exclusivity and prioritize residents—reshaping the value proposition for property owners and potential buyers.
  👉 Learn about IVGID’s beach access rules here

South Lake Tahoe

South Lake Tahoe’s market delivered steady performance in May—balancing affordability with lifestyle.

• Single-Family Homes: 35 sales | Avg Price: $741K
  Value-driven buyers are mixing lifestyle and investment in neighborhoods like Bijou, Montgomery Estates, and Tahoe Keys.

• Short-Term Rental Update:
  The recent overturning of Measure T may reshape the STR landscape—potentially opening new opportunities for buyers and investors seeking rental income potential.
  👉 Get the details on the City of South Lake Tahoe’s website

Make Your Move: Insider Tips

For Buyers:
The market’s buffet is open—but the best dishes are going fast. Listings are up, but with the average days on market at just 39 days, you’ve got room to breathe—but not to snooze. Focus on homes that have been on the market for a few weeks (hello, negotiation potential!). Strategy beats speed every time.

For Sellers:
This is your early summer window before competition peaks. Buyers are out there—ready and watching. Homes that win? They’re prepped, priced with intention, and presented like a cover model. Think pro photos, polished listings, and marketing that shines. Smart pricing and a strong launch now could mean fewer days on the market and stronger offers.

Hot Zones: Tahoe Vista, Agate Bay & Carnelian Bay

With 22 active listings, these lake-adjacent neighborhoods offer buyers the perfect blend of charm, lake access, and opportunity. HOA beaches, piers, and amenities make every summer day feel like a vacation.

• Top-tier listings: $17.5M and $7.375M

• Most accessible: 9 properties under $1M

• Adjusted average price: $1.36M (excluding the trophy sales)

Here are three listings raising eyebrows in this area—and proving this market is anything but ordinary:

• 5850 Korlebu Lane | 3 Beds, 3 Baths | $1,225,000 (Sotheby’s)

• 6259 North Lake | 4 Beds, 3.5 Baths | $2,998,000 (Ormsby Realty)

• 621 Tripoli Road | 3 Beds, 2 Baths | $924,000 (Compass)

Camille’s Hot Take

Days on market? 39 days—that’s real estate’s version of a flash sale. When a home is dialed in—smart pricing, pro photos, and a compelling lifestyle story—buyers are ready to jump.

Luxury buyers? They’re still writing the playbook. Single-family homes averaged $1.1M, with trophy sales lifting the high end. Meanwhile, mid-market buyers are navigating rates and insurance with all the grace of a black diamond skier—and making some smart moves.

South Lake Tahoe’s overturn of Measure T could change the STR game, bringing more rental opportunities and fresh eyes on the prize.

Incline Village? The buzz is real—33 sales in May at an estimated $2.3M average. Nevada’s tax-friendly vibe is more than a talking point.

In this market—where lifestyle meets strategy—it’s not about timing the market perfectly. It’s about making your moment count. Let’s build your Tahoe story together—one smart move at a time.

What’s Turning Heads

This month, I’m excited to share two standout May sales that showcase market momentum and the power of presentation and pricing.

• Tahoe Marina Lakefront Condo — sold for $2.150M (my second $2M+ sale in the complex!).

• Granlibakken Townhomes — record-setting sale proving that strategy, staging, and presentation align perfectly.

👉 Click the photos above for more details, and let’s talk about making your listing the next star.

Tahoe Vibe: Lake Tahoe Concours d’Elegance | August 8-9

Mark your calendars! The 51st Lake Tahoe Concours d’Elegance returns to Obexer’s Boat Company in Homewood—celebrating the 100th anniversary of Gar Wood Boats. Enjoy classic wooden boats, a wine village, gourmet bites, live jazz, and exclusive events like the Roar-Off under the Olson Bridge. It’s more than a boat show—it’s a celebration of craftsmanship and the Tahoe lifestyle.

🎟️ Reserve your passes and explore event details

Don’t Just Watch the Market—Let’s Make Your Move Together.

Camille Duvall
Global Real Estate Advisor CA | NV
Sierra Sotheby’s International Realty
📧 [email protected]
📱 917.797.3554
CA DRE #02106267 | NV BS.1046948
🌐 camilleduvallsellstahoe.com

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