In the past month we've seen a surge in mortgage rates and a shortage of available homes. However, the median home price is not showing signs of decreasing. Despite the decline in sales, the median home price in Tahoe is expected to remain relatively high. This is due to the increase in market competition, with homes spending less time on the market and a higher percentage of homes selling above asking price. 

Buyers, please don't lose hope. Inventory is expected to increase late in the Spring and throughout the Summer. If you're looking for an specific type of property, just reach out to us and we can prospect for off-market properties that fit your criteria.

In South Lake Tahoe the median sales price is down compared to the same month last year. Courtesy of higher interest rates. The amount of homes sold in May is down 54% compared to a year ago. The amount of new listings coming up on the market in May of 2023 was down 25% compared to the previous year and inventory level is down 39% compared to 2022.

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 May's must-see home of the month is 2645 Knox Ave, listed at $725,000. This property was built in 1961 and it features 3 Bedrooms / 2 Bathrooms / 1,816 Sq Ft / 1 Car Garage. This home offers a wonderful layout with a large living room, kitchen and separate family room. One bedroom and full bathroom are located on the first floor. The upstairs offers of two bedrooms, a full bathroom and small central gathering area. Kitchen upgrades include new cabinets and counters, new lighting and all brand new appliances. New flooring through out house. The backyard has a great entertaining deck as well as ample yard space and an spot to park your boat or small trailer. Located within walking distance to breweries, restaurant and shops. Your also only a short bike ride to the Lake. 

2645 Knox Avenue, South Lake Tahoe, CA

View photos and detailed information for 2645 Knox Avenue, South Lake Tahoe, CA 96150, MLS...

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This Month’s Most Expensive Home for Sale

The most expensive new listing that entered the market this month was 1639 Sherman Way listed at  $19,800,000. This home was built in 2017 and it features 17 Bedrooms / 18 Bathrooms / 16,500 Sq Ft / 6 Car Garage. Curated with timeless design elements and unsurpassed grandeur, Gunbarrel Lodge is a 15-acre alpine estate that delivers one of the most spectacular settings in all of Lake Tahoe. A private gated entrance and scenic driveway lead to the hillside perch for this exclusive compound that begins under a grand Porte-cochere entry. Offering a rare assemblage of ski-in/ski-out locale, overwhelming lake views and exceptional design. Rustically elegant, the builder artfully melded timbers and rugged reclaimed materials with a wealth of stonework and stylish decor, while providing a seamless transition to the outdoors. An unprecedented opportunity for the most discerning of buyers to own a true legacy property. 

1639 Sherman Way, South Lake Tahoe, CA

View photos and detailed information for 1639 Sherman Way, South Lake Tahoe, CA 96150, MLS...

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This Month’s Least Expensive Home for Sale

The least expensive new listing that entered the market this month was 1223 Bonanza Ave #18, listed at $299,000. This property was built in 1965 and features 2 Bedrooms / 1 Bathroom / 812 Sq Ft. Walking distance to shopping, restaurants, and entertainment and just a short drive to some of Tahoe's best beaches and world class ski resorts. Remodeled over the last two years and one of the only units in this entire complex with in-unit laundry puts this unit far above the rest. Located on the ground floor.

1223 Bonanza Avenue #18, South Lake Tahoe, CA

View photos and detailed information for 1223 Bonanza Avenue #18, South Lake Tahoe, CA 961...

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