South Tahoe Real Estate Newsletter

Lake Tahoe Real Estate Resource

January 21st, 2021

866.542.2912

How the Rollout of COVID-19 Vaccines Could Help- and Hurt- the U.S. Housing Market

The coronavirus pandemic and the ensuing financial crisis have caused immeasurable hardship and pain across the U.S. Paradoxically enough, the crisis has also served as a turbocharged shot to the housing market. Feverish buyers rushed into the market just as COVID-19-shy sellers pulled their homes off—forcing buyers into bidding wars and pushing prices up to new heights. Recession be damned.

Now, as the long-awaited vaccines are being rolled out, home buyers and sellers are eager to take real estate’s temperature. Will prices finally cool off? Will the big cities come back? And will more homes finally go up for sale?… Read here.

December Home Sales and Price Report

California housing market ends year on high note as sales continue strong in December and median price reaches another record high, C.A.R. reports

– Existing, single-family home sales totaled 509,750 in December on a seasonally adjusted annualized rate, up 0.2 percent from November and up 28 percent from December 2019.

– December’s statewide median home price was $717,930, up 2.7 percent from November and up 16.8 percent from December 2019.

– For 2020 as a whole, sales of existing statewide homes were up 3.5 percent from last year…. Read here.

Tahoe Fund Fact

According to our friends at the Tahoe Institute for Natural Science (TINS), 42 bald eagles were spotted in their annual count. This is 15 more than the 2017 record of 27 eagles. Thanks to careful and descriptive data collection from over 200 volunteers, TINS was able to differentiate 30 individual adults and sub-adults and 12 immatures (featured in the photo). Thank you TINS and the amazing volunteers that help count the eagles year after year. For more information on the Bald Eagle count, visit takecaretahoe.org.

Weekly South Shore Real Estate Stats

Active median price is currently $1,372,000
Pending median price is currently $599,000
Sold median price is currently $631,125
Absorption rate is currently 1.10% of a month of Inventory

The absorption rate is finally a bit higher than months past as the median home price has been climbing and days on market increasing accordingly. Our active, pending and sold sales are holding steady with a slight increase in pending sales. There is anticipation of increases in inventory 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.

1439 Ski Run Blvd #D3, $410,000

Wonderful Condo located in the Summit at Heavenly! This property boasts two bedrooms, two full bathrooms and a large loft area. There are a number of upgrades already completed but it awaits your final finishing touches. Located only a few minutes from the Cal Base at Heavenly and a short distance to Lake Tahoe, Ski Run Marina, shops and dining. This is the perfect spot for a weekend getaway, starter home or investment property.

Call Shannon Witt 530-863-0548

1329 Wildwood Dr. $1,499,000

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.

Call Jesse Yohnka 530-318-2518

3583 Mackedie Way, $2,299,000

Indulge all your senses here in this gorgeous Lake Tahoe Modern Residence. Enjoy this well-crafted custom 7 bedroom, 6.5 bath home located in Heavenly Valley. Fully furnished & great for entertaining. Steps to Vails Heavenly ski resort, trails, arts & culture, casinos and more! It’s fully stocked to include majestic lake, forest & mountain views from every room including the expansive great room, anchored by a 2 story granite rock fireplace and the fully loaded Chefs gourmet kitchen with a huge granite slab counter where culinary creations are inspired. Eye candy views enjoyed from the dining & great room. Step out on the deck & enjoy the sunsets while you relax in the spa tub, or take in the show in the media room, then pop upstairs to the game room, fully equipped with your choice of billiards or ping pong. If that’s not enough, yes that is a fabulous full floor spa which includes an indoor swimming pool, steam shower & sauna room, plus lounge & fireplace. Come home to Tahoe & live the dream!

Call Bret Howard 530-318-5439

1978 Washoe St. $625,000

Here is your chance to own your home and operate an established daycare out of it in beautiful Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home is currently being run as a successful daycare/ preschool on the main floor with 2 personal bedrooms and a private bathroom upstairs. Upgrades include: remodeled 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.