The real estate market in South Lake Tahoe in July has been characterized by a slowdown, with an increase in price reductions and cautious behavior from homebuyers. The market this month experienced an increase in inventory, which has resulted in a buyer's market. Many sellers are using aspirational pricing rather than market-based pricing, which has resulted in numerous homes appearing overpriced to buyers. Consequently, price reductions have become more common as sellers adjust to the market reality. High interest rates continue to deter potential buyers, causing many to wait on the sidelines in hopes of rates dropping. This hesitation is affecting overall market activity and slowing down transactions. 

Nonetheless, experts believe that the market will only regain momentum once mortgage rates fall sufficiently to make homes more affordable and motivate homeowners with low-rate mortgages to consider moving. 

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 July'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. From the moment you arrive, you'll be struck by the undeniable charm and character that sets this home apart from the rest. 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. Impeccably maintained, this home is ready to welcome you with open arms. 

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 1965 Daggett Ct, listed at $2,275,000. This property was built in 1983 and it features 3 Bedrooms / 2.5 Bathrooms / 2,860 Sq Ft / 2 Car Garage.  Located on a quiet cul-de-sac in the coveted Aloha Drive neighborhood of Tahoe Keys. This impressive waterfront residence overlooks 80 feet of waterfrontage with unobstructed views of Mount Tallac offering comfort and style where quality crafted finishes and custom features are evident throughout the 2860 square foot floor plan. As you enter the home a warm room entry with heated floors will lead you upstairs to a spacious main living area with vaulted ceilings, oversize windows framing stunning water and mountain views and a handsome stone fireplace. The kitchen opens to a large dining area offering high ceilings, hardwood floors and lots of counter space. Sliding glass doors from the dining and living area provide easy access to an expansive outdoor deck allowing for seamless indoor-outdoor living. The cozy primary bedroom suite hosts 2 walk-in closets and a private covered outdoor deck. The stylish primary bath has a jetted tub, double sinks, a sizable stall shower and heated floors all tastefully finished with tile, granite and natural stone. The lower portion of the home includes a huge family/game with hardwood floors and a second custom designed fireplace. Rounding out the same level are two generous size guest bedrooms, a well appointed hall bathroom with heated floors, double sinks, a large soaking tub and stall shower. Other outdoor features and highlights include, 1/2 bath on the main living level, wet bar, custom lighting, 3 outdoor decks,  over the water party deck, horseshoe dock for multiple boats, lushly landscaped yards, outside storage shed, tankless water heater, A/C, hard piped gas BBQ,  separate laundry room, and much more. 

1965 Daggett Court, 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 516 Emerald Bay Rd #321, listed at $320,000. This complex was built in 1972 and this unit features 2 Bedrooms / 1 Bathroom / 912 Sq Ft. Fully furnished, turnkey 2nd-floor corner unit condo, perfectly situated for outdoor lovers. Enjoy breathtaking, unobstructed forest views from your patio and easy access to miles of US Forest Land trails leading to Fallen Leaf Lake and Camp Richardson. The nearby paved bike path connects you to South Lake Tahoe's best beaches and downtown. After a day of adventure, unwind by the pool, soak in the hot tub, or enjoy the BBQ patios. This light and bright unit features 2 oversized bedrooms, a spacious living room, and an updated kitchen with a gas range. Additional amenities include in-unit laundry and a detached 1-car covered carport. Enjoy easy Tahoe living with an HOA that offers on-site full-time maintenance and snow removal. 

516 Emerald Bay Rd #321, South Lake Tahoe, CA

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