In 2024, the Lake Tahoe real estate market demonstrated remarkable resilience and growth. Despite broader economic uncertainties, rising interest rates and market corrections seen in other regions, Tahoe saw median prices begin to stabilize near the peak levels reached during the pandemic surge. The Tahoe Sierra MLS, Truckee, and Lakefront sectors all achieved record-high median prices, reflecting continued demand for premium properties in the region. The Tahoe Basin, spanning both California and Nevada, closely followed suit—each finishing the year within 2% of their historic highs.
Sales volume also experienced a notable uptick, averaging a 10% increase across most sectors. However, it was the Lakefront market that made the most dramatic rebound, with sales surging 67% year-over-year—a sharp recovery from the 2022 record low.
This year’s performance underscores Lake Tahoe’s enduring appeal as both a luxury destination and a sound long-term investment, cementing its position as one of the most desirable real estate markets in the country.
Looking ahead to 2025, low inventory is expected to be one of the most significant factors shaping the market. With limited new construction and fewer existing homeowners choosing to sell, buyers will likely face tight competition for available properties. This continued supply shortage is expected to support strong pricing, particularly in high-demand segments like lakefronts and luxury homes, while reinforcing Lake Tahoe’s status as a premium, high-value market.
Read the full report to view graphs by micro-region.
See our featured lakefront listings here. See Dietz Group 2024 sales here.
Interested to learn more? DietzGroup@TLUXP.com
Source: Tahoe Sierra MLS and Incline Village MLS