In order to assist you in gaining valuable insights into how the market is performing in Tahoe’s most desirable neighborhoods, I’ve compiled our third quarter 2019 reports for your review. Michelle Keck and Oliver Luxury Real Estate provide quarterly and year-end reports to help you make better real estate decisions. Click on any of the links below to instantly gain access to the reports.
In an effort to give you in-depth, area-specific information we break down sold data in several individual markets. We examine the Number of Home Sales, Total Home Sales Volume & Median Home Sale Price all within these specific markets. We further break down specific price categories within each market for an even more in-depth examination.
Here is a brief summary of the third quarter of 2019. In South Tahoe California the average sales price of single family homes rose from $543,378 in Q2 to $575,354 in Q3! Homes are selling at exactly the same rate as Q2 with the average days on market remaining at 102 days in Q3. The amount of homes sold increased dramatically from Q2 where there were 98 homes sales, increasing to 176 in Q3. South Lake Tahoe lakefront home sales saw a sales price increase again from $1,053,750 in Q2 to $1,205,000 in Q3 indicating a continued strong lakefront and single family home market. Additionally, lakefront homes are selling more quickly with an average days on market decrease from 58 days in Q2 to only 47 days on market average in Q3.
On the East Shore Nevada side of Lake Tahoe the lakefront average sold price saw a slight decrease from Q2 to Q3, going from $5,347,000 to $4,625,000 in Q3. The Stateline/Kingsbury area saw an average sales price increase from $499,000 in Q2 increasing to $639,000 in Q3. Cave Rock/Skyland also saw increased in the average sales price from $1,142,500 in Q2 to $1,350,555.
These trends indicate stiffer competition for Tahoe listings, and lend to previous indications of a continued seller’s market trend around the lake. Seller’s markets are reciprocally beneficial to buyers as more properties are listed, offering a wider variety of inventory.
I hope that you find these reports informative. Please do not hesitate to reach out to me regarding your Tahoe property! I would be happy to provide you with a complimentary valuation of your home in today’s market, or assist you in finding your perfect Tahoe home. Feel free to contact me if I can be of service.
Instantly view and download the Tahoe-Reno Real Estate Market reports for the third quarter of 2019 below.
