South Lake Tahoe Real Estate Market Update Aug14 – 20

 What an absolutely gorgeous week.  This past Tuesday, it felt as though Autumn was in the air.  Yet, by 4:00 in the afternoon, summer had returned in all its glory. 

There were 17 new listings reported in the South Lake Tahoe Multiple Listing Association, down from 24 last week (and 32 the week prior.)  Of these 17, the lowest asking price is $254,900 for a 2 bedroom, 1 bath home with 864 square feet of living space.  This home is located at 2537 Kubel in the Sierra Tract.   The highest list price was $1,575,000 (listed by our company, good job Pinnacle) for a 6 bedroom, 5 bath brand new luxury home with approximately 4,700 square feet on Tartan Way in the Angora Highland area.  The median price among these 17 new listings is $479,000, slightly up from last week’s $459,750.

Now, here is the big news:  There were 17 NEW pending sales (up from last week’s 10) reported for South Lake Tahoe.  The lowest asking price among these 17 homes is $279,900 for a 2 bedroom, 1 bath home with 912 Square feet of living space located at 700 Eloise in the Tahoe Island area.   The highes price was $769,000 for a fabulous buy on 1835 Mohican, located within the Tahoe Paradise neighborhood.  This newer home had 5 bedrooms, 3.5 baths, and approximately 3,300 square feet of living space.  The median price for these 17 homes is $425,000 with an average time on the market of only 43 days (down from last week’s 84.)

Now for the drum roll . . . Congratualtions to  the buyers and sellers for the 9 closed sales (up from last week’s 5.)  The lowest asking price among this group was a super affordable $189,000 for 2682 William located in the Sierra Tract.  This home featured 2 bedrooms, 2 baths and approximately 1664 square feet of living space.  The opposite end of the price range was $1,200,000 for 2228 Balboa located in the Tahoe Keys.  This waterfront home features 4 bedrooms, 2.5 baths, and over 3,000 square feet of living space.  The median home price among the closed sales was $439,000 (up from last week’s $326,000.  The average time on the market was 142 days, almost double that of last week’s 54.

This week’s Special Find is 2697 South Upper Truckee.  This home was just priced at a value to be moved – now.  Located on a double lot, within walking distance of the Truckee River, less that thirty minutes to Kirkwood, Sierra At Tahoe & Heavenly Ski Resorts, this home is a true delight.  Rarely will you find a home with such quality, amenities, setting and opportunity at this price.  Click here to check it out for yourself.