Is South Lake Tahoe, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, South Lake Tahoe has remained a Seller's Market.
Key Takeaway
South Lake Tahoe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Lake Tahoe, CA
How much do homes in South Lake Tahoe, CA cost?
Median Sold Price
$578,000
$433/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in South Lake Tahoe have sold for 6.2% less than they did a month ago.
Summary: The median home sold price in South Lake Tahoe was $578,000 in March 2024, down 6.2% from last month, and the median price per square foot was $433.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $612K | $250K | -59.2% |
| 3 Bedrooms | $589K | $578K | -1.9% |
| 4 Bedrooms | $715K | $775K | +8.4% |
| 5+ Bedrooms | $1.2M | - | N/A |
Summary: South Lake Tahoe housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 59.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes did not change.
Housing Supply in South Lake Tahoe, CA
How many homes are available in South Lake Tahoe, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Summary: The South Lake Tahoe real estate market had 13 homes for sale in March 2024, a 18.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The South Lake Tahoe housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Lake Tahoe, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in South Lake Tahoe in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for South Lake Tahoe, CA
How long does it take to sell a home in South Lake Tahoe, CA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 Days | 35 Days | -62.1% |
Summary: Homes in South Lake Tahoe had an average of 35 days on market in Mar 2024, down by 62.1% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Lake Tahoe are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in South Lake Tahoe; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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