South Lake Tahoe Real Estate Update 2/19/21

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Listing Side:

Shannon Witt

Bret Howard

February 19th, 2021

866.542.2912

The Vegas Golden Knights and Colorado Avalanche will drop the puck at noon Saturday, Feb. 20, and the Boston Bruins will battle the Philadelphia Flyers at the same time the next day. Both games will be nationally broadcast on NBC, Sportsnet and TVA sports.

The opening ceremony Saturday will feature South Lake Tahoe’s Aurora Gooch singing the national anthem. The 21-year old singer is serving as a collection specialist for a locally-based COVID-19 testing company, Test Well….. Read Here.

The Virtual Town Hall Series will continue as a monthly event to address the key areas of focus in the Vision 2025 document with updates from local experts and a dialogue with the community.

Featured Speakers:

Todd Cutler

Lake Tahoe Unified School District Superintendent

Register in advance for this webinar:  Here

Attendees will be able to submit questions throughout the Town Hall to be answered following the presentation. Registration is required and space on the Zoom platform is limited to 100 attendees. Those interested can also watch live at Tahoe Chamber Facebook page. 

·     Pending median price $750,000

·     Sold median price $653,000

·     0.948 Absorption rate & is going lower.

It would appear for the statistics that the sales are now at a 100.09% list to sale ratio. Sending the clear message that this remains a strong sellers market with over list-price offers.  

The absorption rate is once again below one month inventory as the median home price has been climbing and days on market decreasing accordingly. Our active listings have dropped this week over last, exacerbating the inventory vs demand ratio. This impacting the absorption rate, which is a barometer of the market supply to demand, dropping below 1% of inventory anticipated to be sold within the coming month. This ultimately impacts prices as more buyers compete for fewer homes, driving up the price points.

There is anticipation that increases in inventory are likely as sellers start planning to make moves now that vaccines are finally coming into the health markets and to the people who so dearly need them. Additionally, many vacation rental properties will be cycling out of their VHR permits as Measure T impacts are coming into play here in the So Lake Tahoe city jurisdictions. We will be keeping an eye on this activity and sharing market conditions as it evolves.  

3695 Primrose Rd.,

$650,000

New Listing!

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”.

1866 Apalachee Dr.,

$545,000

New listing!

This beautifully upgraded home has sunsets to die for, views of the meadow, river and mountains and is surrounded by forest service lots. With 2 bedrooms and 2 bathrooms, the spacious layout makes it seem larger than it is for its size. The main floor consists of an open living space with vaulted exposed beam ceilings, free standing gas fireplace, and a slider out onto the expansive deck. There is also one bedroom and full bathroom with laundry hookups on the main floor. The upstairs is a large open second bedroom with a bathroom. Many upgrades have been done in the last few years including new deck and railing, on demand hot water heater, interior upgrades and brand new dishwasher and refrigerator. Site assessment completed- there is an additional 230 sq ft of unused coverage- just enough for a garage. The possibilities are endless on this house. Being sold fully furnished, all you need is your suitcase and you’re home.

1978 Washoe St., $625,000

Back On Market!

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.

1329 Wildwood Ave,

$1,399,000

Enjoy this spectacular Heavenly Lakeview home including 3 bedrooms, game room, 2.5 baths, 2,400 square feet, RV & Collectors Garage! This Mountain Chalet, with a stunning remodeled great room is anchored by floor to ceiling rock gas fireplace. Beautiful hardwood floors thru-out, gourmet kitchen to wow even the most discerning of chefs. All this sits perched on over 1.3 acres with wrap around decks and a large hot tub- excellent for enjoying all 4 incredible seasons. But wait there’s more as you stroll around check out the 2,400 square foot commercial grade utility/RV garage with hydronic heated floors. It’s perfect for all your toys, boats, collector cars, RV’s and more. Remodeled upgrades and amenities include a newer heavy composition roof, new wood and vinyl framed windows thru-out, recent exterior paint and new light fixtures, driveway sealcoating, RV hook ups, wine cellar, hydronic heated entry/mud room, game room flooring and oversized 2 car attached garage.

CA Lic # 01302763 NV Lic # 52501