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Lake Tahoe Real Estate Resource

June 26th, 2020

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May home sales and price report

LOS ANGELES (June 16) – California home sales fell to the lowest level since the Great Recession as the housing market suffered the full impact of the coronavirus pandemic in May and remained below 300,000 for the second straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 238,740 units in May, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2020 if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. May’s sales total was down 13.9 percent from 277,440 in April and down 41.4 percent from a year ago, when 407,330 homes were sold on an annualized basis. It was the second straight month that home sales dropped below 300,000 units. Additionally, the year-to-year drop was the largest since November 2007, contributing to a year-to-date sales drop of 12.9 percent. “The sharp sales drop in May was the steepest we’ve seen in some time, but there are encouraging signs that show the market is recovering and should continue to improve over the next few months,” said 2020 C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “With pending home sales up a stunning 67 percent in May, buyer demand is on the upswing amid record-low rates that are making monthly mortgage payments $300 less than a year ago.” Finish reading here.

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South Lake Tahoe Real Estate Market Stats

With a 3.1 monthly absorption rate, we are in a strong seller’s market. Given the current state of the Covid world and while access to Tahoe for many is virtual, somewhat counter- intuitively, we are still enjoying an active real-estate market where solid values can be obtained by the buying and selling markets. Real estate listing Inventory is maintaining a slow but solid number of new listings coming to market while other inventory leaves the market in the form of sales (see absorption rate above) or expired listings. What we look for in these leading indicators is direction of the RE market for purposes of anticipating pricing and sales expectation. What we see currently is consistency (as opposed to volatility, such as the liquid equity investments markets). Please don’t hesitate to reach out to us and discuss the market place and how this might affect your plans for your real-estate at the moment we have green lights and blue skies but we’ll have to view it virtually! We can do that!!! To compare this report to last weeks, click here. To learn how to use the absorption rate, click here.

Open Houses

Please call to setup your personal open house! Look below for the agent’s phone numbers who will be at the designated house you’re interested in! Call them for more information.

885 Rainbow Dr. $769,000


	885 Rainbow Dr

Calling all buyers. Here is your chance to own a custom Tahoe home in South Lake Tahoe. This home is located in a quiet neighborhood close to all the bike trails, beaches, Camp Richardson, Fallen Leaf Lake, shopping and restaurants. The attention to detail has been found at this property. The main floor encompasses the great room with wood flooring thru out, hickory cabinets, natural wood bar and stainless steel appliances in the kitchen, large windows thru out to let all the natural light in, cobblestone fireplace with gas insert in the living room area and a large deck for entertaining and relaxing. The master bedroom boasts vaulted ceilings with a custom etched glass window, large walk in closets, master bath with Jacuzzi tub, heated natural stone floors and large enclosed shower. Downstairs you will find an additional family room with two large bedrooms, large bathroom with double sinks and the laundry room. The back yard is the perfect spot for the fur babies being fully fenced.

Call Tambra Anderson 530-721-5588

220 Terrace View Dr. $1,350,000


	220 Terrace View Dr

A one of a kind must see pristine 1973 custom home with an attached 800 sqft 4 car garage. When you walk though the doors you are welcomed by a great room featuring large beam vaulted ceilings, floor to ceiling rock fireplace and wall to wall windows in the living room allows for amazing views of the lake- no art necessary! The main floor has a great room, master bed, 2nd bed and hall bath. There is a loft with 1 additional bed upstairs. Take the elevator down to the second floor and you have the exact same layout with a kitchenette, master and 2nd bed. This could be turned into a second unit if one desires. Keep this home in its mint condition 1973 design or customize to your hearts desire.

Call Shannon Witt 530-863-0548

2576 Alma Ave. $339,000


	2567 Alma Ave

Calling all would be Lake Tahoe homeowners: now’s your chance to get into the housing market!! This affordable and roomy 2 bedroom, 1 full bathroom, plus 1 car garage comes neatly packaged in this rancher style home. All with a pleasant twist on the floor plan which includes room for an eat in kitchen, dining area and great room leading to the fabulous fenced back yard, all this for spacious family spread or entertaining! Loads of pre-existing covered parking, super sunny centrally located Lake Tahoe home. Hop on your bike and the trails, or walk to the shops, restaurants and markets in the area of Tahoe Sierra. Make this your next home and take advantage of today’s super low interest rates which truly makes this home a better option than renting.

Call Wally Johnson 530-277-5687

1323 Keller Rd. $1,190,000


	1323 Keller Rd

Surrounded by forest with peek-a-boo Lakeview’s, this one of a kind mountain masterpiece is a must see. Built in 2004, this home was finished with attention to the finest detail. Dramatic 22′ open beam ceilings, 60 wood-clad windows and skylights plus rustic maple flooring. The professional chefs kitchen includes built in appliances, granite slab counter tops and custom Alder cabinetry. The home offers not one but two master suites, 4 jetted tubs in all, a game room and hot tub situated in the trees. Located just down the street from the California Lodge at Heavenly on a 10600 sqft lot backing to USFS land.

Call Bret Howard 530-318-5439

Featured Listings

2208 Marshall Trail $785,000


	2208 Marshall Tr

Beautiful custom Tahoe home situated on a sunny corner lot in Montgomery Estates. Located across the street from national forest, this 4 bedroom 2.5 bath home boasts 2,995 square feet of living. Thoughtfully laid out design allows for single level living with master bedroom, kitchen, dining, living and laundry room on the first floor. A spacious loft, full bath, and 2 additional rooms encompass the second story. Enjoy yourself outside in the spa while looking at the forest. This property has everything in place and is ready for its new buyers personal touches!

1331 Wildwood Ave. $895,000


	1331 Wildwood Ave

Heavenly Valley retreat! No detail was overlooked or dime spared in this beautiful remodel. Located just down the hill from Heavenly Ski Resort, this home offers beautiful filtered lake and mountain views. Sit on the wrap around deck and watch the sunset while warming by the double sided fireplace. Inside the home offers three bedrooms all with on suite bathrooms, large open concept kitchen/dining and living room and 2 car garage. Finish details include hardwood flooring through out, stainless steal appliances, granite counter tops, custom vanities, onyx and slate bathroom surrounds, designer window coverings and more. Unique to this house is AC and a sauna as well.

1337 Wildwood Ave. $959,500


	1337 Wildwood Ave

With views of Lake Tahoe and Heavenly Ski Resorts Gun Barrel run this immaculate 4 Bedroom plus bonus room, 4 Bath house offers living at its finest. Gourmet chefs kitchen includes a double oven, 5 burner gas cook top & granite counter tops. The living room has a slider out to the top deck with views of the lake that also shares a double sided see through fireplace with the living room. All the bathrooms have hand pounded copper sinks and exquisite natural stone work including onyx, travertine, granite and marble. The Master bath spares no expense with a hand pounded copper free standing bath tub, walk in shower and custom double vanity w/ copper sinks. This is truly one of a kind property.

3604 Osgood Ave. $435,000


	3604 Osgood

Find yourself here in this Lake Tahoe Mountain style cabin, plus a separate in-law sleeping quarters above the 2 car garage. Walk to the lake, stop over at Whole Foods and the new Tahoe mini village with shops, cafes and markets. Minutes to Heavenly Ski Resort & the Ski Run Marina. Amenities include stunning open beam, cathedral style T&G ceiling with the ambiance and feel of the true rustic cabin, yet remodeled for the best of both worlds. Newer metal roof, kitchen & bath cabinetry, sinks & appliances, double pane windows, newer flooring and carpet and that’s just the main house. Step out and through the attached oversized 2 car garage and up to your in-law quarters finding the lofted 1 bdrm. 1 bath penthouse”. There’s also a roof top party deck for your outdoor entertaining.