South Lake Tahoe Real Estate Market Update- Nevada East Shore, Aug. 27- Sept. 2

The Nevada Lake Tahoe real estate market continues to have high and low levels of activity yet there is one element that never changes.  That is, the beauty of a simple lifestyle available to all that are able to wiggle their toes in the sand of Lake Tahoe beaches.  Check out this image from one of our favorite local photographers, Brad Senn.  Is there a better way to describe true elegance?  Okay, enough wistful thinking.  Back to work.

According to the Northern Nevada Regional Multiple Listing Services, there are currently 163 single family homes listed for sale in South Lake Tahoe’s Nevada East Shore. Within this list of Nevada homes for sale, there are 13 homes currently in escrow and 5 of those escrows are awaiting bank approval for a short sale. Among these 163 active listings, the median list price is $975,000.

During this past week there were 4 single family homes put on the market with a median asking price of $732,000. The lowest priced new listing was $479,000 for 189 Carson Dr., a 3 bedroom, 2  bath with 1464 square feet.  On the other end of the price range, the highest priced new listing was $2,650,000 for 1318 Cave Rock Dr.  This stunning contemporary home has 5 bedrooms, 5 baths, 6,337 square feet of living space and views of Lake Tahoe and the Sierra Mountain range. There were no recorded sales reported through the Northern Nevada Regional MLS for this past week.

There are currently 96 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $373,500. Out of these 96 condos, there are 13 in escrow. Among the 13 pending sales, 5 are pending bank approval for a short sale (these happen to be the same number of escrows as the single family homes).  During this past week there were 7 new condos listed for sale with a median asking price of $349,900. The lowest priced new condo listing was $219,000 for 759 Boulder, a 2 bedroom, 2 bath with 840 square feet of living space. This condo is located at the top of Kingsbury Grade near Heavenly Ski Resort. The highest priced new condo listing was $1,395,000 for 191 Lake Shore Blvd. #102. This condo has mountain and lake views and includes 4 bedrooms, 3 baths and 1988 square feet. According to the Northern Nevada Regional MLS, there were no new pending sales or recorded sales during the week of August 27th through September 2.