South Lake Tahoe Real Estate Market Update - April 17 - 24
Sure & Steady, the Lake Tahoe real estate market is continuing along the path of anxious sellers vs. savvy buyers. The past week’s activity shows the beginning of (what we refer to as) the “listing season.”
Within the city limits, there were 12 “new/back on the market listings.” These new choices are within a low of $325,000 for a 3 bedroom, 2 bath home in the Sierra Tract to a high of $1,295,000 for a 4 bedroom, 2,538 SF home in the Tahoe Keys. The majority of these new listings have asking prices in the $700,000 range.
Along with the high number of new listings were 4 new pending sales. These homes ranged from $295,000 for a smaller home in the Tahoe Island area, to a brand new, 2032 SF home in the Sierra Tract listed at $489,000.
Among closed sales, there were three homes ranging from $350,000 for a duplex in the Al Tahoe area to $1,200,000 for a luxury home with over 3,000 SF in the Heavenly resort area.
Wrapping up the city limit weekly report, there are 2 new listings for vacant land. The low end is asking $129,000 for a Sierra Tract lot to a high of $469,000 for a Tahoe Keys lot with an allocation to build this year.
Within the county area, there were 6 new listings. The lower end of the range is located in the North Upper Truckee area and is asking $360,000 for a 1,886 SF, 4 bedroom, 2 bath home. The top of the range is $1,350,000 for a 5 bedroom, fully furnished home with great room, family room and game room within the Montgomery Estates area.
New escrows number 3 ranging from $420,000 for a 1,248 SF home near the forest to $1,850,000 for a 6 bedroom, gorgeous lodge-style home with filtered lake views. This home was fully furnished and also within the Montgomery Estates area.
There were 2 closed sales. The first was a 3 bedroom, 2 bath home with 1,633 SF in the Meyers area and the second was sold for $510,000 for a 3 bedroom, 1,920 SF home in the Christmas Valley area.
In regards to vacant land within the county, there were 5 new listings. The low end is asking $135,000 for a lot with building rights located within the burn area and the high end is $349,000 for a view lot within the Montgomery Estates neighborhood. This second lot received an offer within the first week and is currently pending.
Don’t forget to check in with the Learn About the Neighborhood section of our web site, www.HomeInTahoe.com to learn more about the various areas in South Lake Tahoe.
This week’s Home of the Week is 1941 Minniconjou, a classic A frame located within a few short miles to Heavenly Mt. & Lake Tahoe beaches. What a setting. Click here to take a visual tour.