In the first three quarters of 2024, all micro-regions saw an increase in the number of single-family homes sold year over year. However, while the slight uptick of homes sold is promising, the overall sales volume sits at around half the number of homes sold in the 2020 peak and well below the average number of homes sold in the past decade. Lower sales volume is partially driven by overall inventory being down from the peak sales volume years. In the Tahoe Sierra MLS, supply is down 33% from 2019. Median price remains robust, with Truckee reaching an all-time high ($1.3M) and both Incline Village & Crystal Bay and the Tahoe Sierra MLS matching their 2022 record highs ($2.5M and $1.25M respectively). Lakefront activity has been notable, with sales volume increasing 67% year over year. Median price of lakefront sales stands at $8.2M. The high lakefront sale was 859 Lakeshore in Incline Village, NV for $47.5M. Now, as we head into the fourth quarter, where the season change typically slows down Lake Tahoe real estate, sellers become more motivated and buyers who have waited may find their opportunity to pounce. As we transition into 2025, the uncertainty surrounding the election will be behind us, and the anticipated decline in interest rates is expected to boost sales activity, driving prices even higher. If you are a buyer and have a property in your sights, make a move now for the best deal.
Read the full report to view graphs by micro-region.
Lakefront Action
In the month of September, we saw five single-family lakefronts sell between Incline Village and Rubicon Bay, with a median price of $15,800,000. That is the most lakefront sale activity we have seen in a single month since December 2021, when five lakefronts sold with a median price of $21,715,000. Notably, in December 2021, there were six actively listed lakefronts at the end of the month, whereas at the end of September, we had 24 active lakefront listings. In August, we had 30 single-family lakefronts actively listed for sale, the most we have seen since August of 2017. With the selling season coming to an end and the increased competition, many lakefront sellers are motivated. Buyers who have waited can take advantage of the season and be ready to enjoy the complete summer of 2025 on Lake Tahoe.
See our featured lakefront listings here.
Interested to learn more? DietzGroup@TLUXP.com
Source: Tahoe Sierra MLS and Incline Village MLS