This past year has been a curveball for real estate in the Lake Tahoe Basin. While prices were already steadily increasing, the pandemic and mass exodus from heavily populated areas that followed, blew up the housing market.
Online real estate platforms show historically low inventory along with the skyrocketing prices all around the lake. Real estate brokers both agree that low inventory and rising prices will continue for the foreseeable future.
California has seen six years of double digit growth in sales according to Deb Howard, broker and owner of Deb Howard & Co. According to Howard, on the South Shore there are currently 51 residential listings with a median home price of $1,275,000. There are 99 pending sales with a median price of $750,000 with the overall median home price at $673,000.. Read Here.
Famous for their Wet Woodys, the Tahoe Restaurant Collection is also serving up support for the Tahoe Fund through the “$1 for Tahoe” fundraising program (also known as Green Bucks) at all four of its restaurants. Guests of Gar Woods, Riva Grill, Caliente and Bar of America are invited to leave donations to the Tahoe Fund when they close out their tab. Thanks to its patrons, Tahoe Restaurant Collection has surpassed $150,000 in contributions since they opted into the program in 2015. Read Here.
Lake Tahoe Fund Fact
The lake level of Tahoe is currently 6,225.58′, this is 2.5′ lower than the high of last summer. Although the water level of Lake Tahoe is typically down during the winter, this is the lowest measurement since 2017. Thanks to the US Geological Survey team, conditions for Lake Tahoe are monitored hourly.
Weekly South Shore Real Estate Stats
Active median price $1,625,000
Pending median price $625,000
Sold median price $699,000
This bringing the absorption rate to .92%, less than one month of inventory. This is truly a sellers market: the multiple offers and the decreasing inventory of our past markets.. but wait there’s help on the way… Read more here.
Your sunny, private county home awaits! This home is located in one of the best neighborhoods in South Lake Tahoe. It’s county location gives you the option to make it a Vacation Home Rental yet it’s still close enough to town to be a short drive away from everything the South Shore has to offer! This 3 bed, 2 bath home has conservancy lots in the back and right sides to give you private forested views. Upstairs boasts an open kitchen and living room along with a master suite. Downstairs is a second living area along with 2 additional bedrooms for your guests to stay. The large backyard is fully fenced and landscaped with a lovely stone patio. Recent updates include all new hardwood floors as well as interior and exterior paint. This well maintained home is a must see!
With a little love, this duplex has great income property potential. Centrally located and close to casinos, beaches, shopping, skiing and the only cinema in town. There is a spacious 3 bedroom 2 bathroom unit upstairs and a 2 bedroom 1 bathroom unit with a 1 car garage downstairs. Large driveway that can accommodate numerous cars. Don’t miss out on this unique opportunity! Property to be sold “as-is”.
Here is your chance to own a unique home in the county area of South Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home has been updated thru the years with Tahoe keepsakes and individuality. Upgrades include: upgraded upstairs bathroom, upgraded kitchen, 40 year roof installed in 2008, upgraded electrical, newer water heater, furnace and siding, newer sheetrock and fully insulated walls. The mudroom has a new exterior door and etched windows that were salvaged from the old Stetson steak house in the Horizon. Located in Meyers you have the added bonus of being zoned for livestock so this backyard is not only a mecca for fun but it also has a large chicken coop and a beautiful, mature garden, large shed and yard hydrant. So much is bundled into this package that it all cannot be listed here. This property is also outside the city limits so it can be a short term rental if that is your desire. Call for more details.