Tahoe Real Estate Unfiltered - May Market recap 2025

Market Reports

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 (over $2M) continued to set the pace with consistent demand—particularly in Martis Camp and lakefront properties—while the mid-market saw fewer transactions as buyers navigated higher interest rates and insurance costs. The average days on market dropped to 39 days, showing that well-priced homes (especially those in Tahoe Donner, Prosser, and Glenshire) are moving quickly, but also revealing that buyers are taking their time with homes that need a little TLC or extra upgrades.

Market insights are based on data from the Tahoe Sierra MLS, California Association of Realtors (CAR), Incline Village Realtors (IVR), South Lake Tahoe Association of Realtors (STAOR), and NAR, plus additional brokerage and industry sources. Figures are preliminary; final numbers may vary.

Lake Beat:

Incline & South Lake Snapshots

Incline Village Snapshot

Incline Village continues to attract high-net-worth buyers looking for Nevada’s tax-friendly lifestyle and that classic Lake Tahoe vibe:

Single Family Homes: 33 sales | Estimated Average Price: $2.3M

Buyers are prioritizing move-in-ready homes with modern upgrades and easy lake access.

IVGID Beach Access Updates: IVGID has updated its beach access rules, emphasizing exclusivity and prioritizing residents, reshaping the value proposition for property owners and potential buyers.

👉 Learn about IVGID’s beach access rules here.

South Lake Tahoe Snapshot

South Lake Tahoe’s market delivered steady performance in May, balancing affordability with lifestyle:

Single Family Homes: 35 sales | Average 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 in South Lake Tahoe—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 & Sellers

For Buyers:

The market’s buffet is open—but the best dishes are still going fast. With listings up but days on market dropping to an average of 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) and be ready to act when that perfect match hits. Strategy beats speed every time. Well-located homes with thoughtful upgrades are still moving fast, especially in the $1M–$2M sweet spot, so be ready to act when the right match hits. Is your 1031 ready to go? Have you spoken to a mortgage broker?

For Sellers:

This is your early summer window before the full heat of competition hits. Buyers are out there—ready, willing, and definitely watching. The homes that are winning? They’re prepped, priced with intention, and presented like a cover model. Think pro photos, polished listings, and marketing that makes your home shine brighter than the Tahoe sun. Pricing it smartly and launching now could mean fewer days on the market and stronger offers. Buyers are active, especially when homes are priced right and beautifully presented. This is a decisive moment to list before summer competition peaks.

Hot Zones:

Tahoe Vista, Agate Bay & Carnelian Bay

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

While the top two listings hit impressive highs—$17.5M and $7.375M—most listings are actually more accessible, with 9 properties under $1M. After setting aside those top-tier sales, the adjusted average price is $1.36M, highlighting the sweet spot for savvy buyers. From Tahoe Vista to Agate Bay to Carnelian Bay, here are three listings that are raising eyebrows in my area to watch —and proving why this market is anything but ordinary. Click the photos below to dive into the details.

5850 Korlebu Lane

3 Beds 3 Baths

$1,225,000

courtesy of Sothebys

6259 North Lake

4 Beds 3.5 Baths

$2,998,000

courtesy of Ormsby Realty

621 Tripoli Road

3 Beds 2 Baths

$924,000

courtesy of compass

Camille's Hot Take

Days on market? 39 days on average—that’s real estate’s version of a flash sale. When a home is dialed in—smart pricing, pro photos, and 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 recent overturn of Measure T could change the STR game, bringing more rental opportunities and more eyes on the prize.

And Incline Village? The buzz is real—33 sales in May at an estimated $2.3M average. It’s a lifestyle pivot with perks, proving that 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 my two standout sales in May that showcase not just market momentum but also the power of presentation and proper pricing. From a sleek lakefront condo at Tahoe Marina Lakefront that closed at $2.150M (my second $2M + sale in the complex) to a record-setting sale in Granlibakken Townhomes, these homes tell the story of what happens when marketing, staging, and strategy align.

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

Tahoe Vibe:

Lake Tahoe Concours d’Elegance

August 8-9th

Lake Tahoe Concours d’Elegance

Mark your calendars for August 8–9, 2025, as the 51st Lake Tahoe Concours d’Elegance returns to the historic Obexer’s Boat Company in Homewood. This premier wooden boat show celebrates the 100th anniversary of Gar Wood Boats, showcasing meticulously restored classics that epitomize maritime elegance.

Beyond the stunning vessels, attendees can indulge in the Concours Wine Village, savor gourmet offerings from local chefs, enjoy live jazz performances, and participate in exclusive events like the Roar-Off under the Olson Bridge. It's more than a boat show—it's a celebration of craftsmanship, community, and the quintessential Tahoe lifestyle.

🎟️ Reserve your passes and explore event details

Lake Tahoe Concours d’Elegance Official Website