March sales data continues to suggest strong buying interest and a solid housing market, as the effects of higher mortgage interest rates won’t be realized for a few more months. With the Federal Reserve expected to announce two back-to-back half-point interest rate hikes in May and June to combat inflation, interest rates will be elevated for the foreseeable future, adversely affecting housing demand and lowering housing affordability in the coming months, but the effects may not be visible until the second half of the year as many of the homes that are, or will be, closing were negotiated before the sharp increase in rates. Despite the slight dip in sales, our housing market remains fiercely competitive. Homes are selling swiftly, outpacing last year's pace, indicating sustained demand. The supply side of the market shows signs of improvement, with an increasing number of properties being listed as sellers adapt to the “new normal.” However, the pace of new listings may not fully match the demand, leading to a persistent imbalance between supply and demand.

The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the market in 2024, whether as a buyer or a seller, let a pro lead the way for you.

If you'd like to have an idea of how much your home is currently worth, click here for an instant automatic valuation.

This Month’s Must See Home for Sale

The choice for March's must-see home of the month is 827 S Shore Dr, listed at $700,000. This property was built in 1981 and it features 3 Bedrooms / 2 Bathrooms / 1,404 Sq Ft. Backing to California Conservancy lot, this stunning property offers a rare blend of serenity and convenience that's sure to captivate the most discerning buyer. As you explore the spacious interior, you'll discover three bedrooms downstairs, each offering a tranquil retreat for rest and relaxation. The beautifully updated bathroom adds a touch of luxury, providing a serene escape from the demands of everyday life. Upstairs, the expansive living room beckons with its airy ambiance and abundant natural light, creating the perfect space for both relaxation and entertainment. The gorgeous kitchen is a chef's dream, featuring granite countertops, stainless steel appliances, and a pantry for added convenience.  Outside, the fully fenced-in backyard offers a private sanctuary where you can unwind and soak in the beauty of your surroundings. With ample parking and a newer metal roof, every aspect of this home has been thoughtfully designed to enhance your quality of life. Located just minutes away from popular restaurants, bike trails leading to Camp Richardson, Pope Beach, and Baldwin Beach, this home offers unparalleled access to the best that South Lake Tahoe has to offer. And with only a 10-minute drive to Heavenly Ski Resort and Casinos, you'll enjoy endless opportunities for adventure and excitement year-round.

827 S Shore Drive, South Lake Tahoe, CA

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This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 551 Eloise Ave, listed at  $2,695,000. This home was built in 2001 and it features 4 Bedrooms / 4.5 Bathrooms / 4,747 Sq Ft / 5 Car Garage. As you enter the motor court though the double iron gate, you'll be immediately impressed by the landscaped grounds and the grandeur of this amazing residence. Upstairs is the great room with vaulted ceilings, massive rock fireplace, and built-in entertainment center. The chef's kitchen includes a prep island, counter seating, custom copper hood, panty and extensive cabinetry. Just outside is a large and sunny upper deck with a built-in grill and tranquil forest views. A custom office area is located to the side and leads to the primary suite with its private spa like bathroom and expansive closets. A second bedroom suite and powder room are also located on the top level. Downstairs the game room features a pool table, dart board, walk behind wet bar, and multiple seating areas. Two additional large bedrooms and a full bathroom are located off the game room. A five-car garage with separate utility room is also located on the ground level. Outside, you'll enjoy extensive patios, pathways, an outdoor fireplace, stream feature and almost an acre of landscaped and walled grounds backing to conservancy land. The bike path to Camp Richardson and south shore beaches is right out front and the Tahoe Keys Marina, area restaurants, grocery stores, cafes and shopping are just moments away. 

551 Eloise Avenue, South Lake Tahoe, CA

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This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 1145 Long Valley Ave, listed at $400,000. This complex was built in 1946 and the unit features 1 Bedroom / 1 Bathroom / 549 Sq Ft. Classic Tahoe Cabin, in a centrally located neighborhood known for its nostalgic cabins that take you back to an era of simplicity. For your added comfort, the current owner installed a mini split air exchanger which suplements the heat in the winter and cools in the summer. There is a pull down ladder which accesses the loft area and offers additional storage space. The backyard has a nice large space for your leisure time. The water heater is a tankless. The washer and dryer are located in an additional space from the living area. 

1145 Long Valley Avenue, South Lake Tahoe, CA

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