Monthly Market Report, October 2017

The South Lake Tahoe housing market has been steady. The inventory of homes should start decreasing within the next few months as we head into the Winter season. The market should remain steady in the next few months and home values should continue to slowly increase as long as interest rates remain low. 

The Numbers Month to Month and Year to Year

– The median sales price for South Lake Tahoe, CA Homes for Sale was $422,500 in October 2017, compared to $428,500 during October 2016.
– The number of South Lake Tahoe, CA Homes that sold in October 2017 was 74, and also 82 homes sold in October 2016.
– There were 58 new listings entering the market this month.
– There are 60 South Lake Tahoe, CA homes for sale that are under contract which represents 30% of the overall 232 available inventory of homes for sale.
– Average days on the market: 82
– From the 232 homes listed during September, 3 of them were a foreclosure and 3 of them were short sales.

A few highlights of the current South Lake Tahoe, CA Homes for Sale are shown below.

This Month’s Most Expensive

The most expensive new listing that entered the market this month was 1975 Marconi Way, selling for $1,699,000. If you have been looking for a large home in the Tahoe Keys for entertaining, family or investment, then look no further! 1975 Marconi is a rare 7-bedroom property located on a double lot with a huge yard, extensive water-frontage and an oversized U-shape dock. Downstairs is an open kitchen and living room, a formal dining room and the game room. A bedroom with a private bath, laundry room, and a mud-room off the 4 car garage is also located at the ground level. Upstairs are 6 more bedrooms including a large master suite with water views, a walk-in-closet and a balcony with access up to the roof deck and down to the back yard. Currently used as a very successful vacation rental with a strong income history. All the furnishings, decor, electronics, and inventory are included for an easy turn-key purchase. Don’t hesitate, homes like this don’t come along often. call for more details or to schedule a private showing today.  This home was built in 1989 / 7 beds / 5 baths / 3826 Sq Ft. 

This Month’s Least Expensive

The least expensive new listing that entered the market this year was 876 Clement Street, listed for $335,000. Short Sale. This home has been updated with granite, wood floors and stainless steel appliances. The home is located on a large lot in the Gardner Mountain neighborhood which is centrally located to local shops, Fallen Leaf Lake, Camp Richardson, beaches and bike trail. It would make a fantastic 1st or 2nd home or vacation rental. An appraisal paid for by the lender shows a value of $345,500 which is what the lender wants for this short sale. If your offer is accepted we must wait a few weeks for the lender to review the file. If the bank accepts the short sale then you will be given time to perform any and all inspections.  This home was built in 1968 / 2 beds / 2 bath / 1008 Sq Ft.

This Month’s Must See

The choice for October’s must-see home of the month is 3402 S Upper Truckee Road, listed at $789,000. An exceptional opportunity, this refined mountain residence was recently completed in the tranquil confines of Christmas Valley that tender awe-inspiring views of surrounding peaks and verdant hillsides. Scores of recreational outlets are found nearby from the soothing waters of the Upper Truckee River to hiking/biking trails or quick access to 2 major ski resorts. The home’s clean lines, and soaring light-filled spaces gracefully frame the nearby mountains while showcasing exceptional levels of detail and workmanship. Rustic overtones of hand-scraped Acacia wood floors, Alder doors and mill works are complemented by design elements of natural stone, oil-rubbed hardware and glass. An airy and well-appointed kitchen features custom cabinetry, stainless appliances and chiseled-edge, leather finished granite counters. Generous bedrooms and tasteful baths, including a copious Master Suite exceed expectation with fit and finish. On-demand water heater and a 3-car garage for all the toys! This home was built in 2017 and has 4 bedrooms / 3 baths / 2825 Sq Ft.

Before you go; checkout the properties below for an updated list of all the homes for sale in Tahoe: