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MICROMARKET REPORT |

EAST SHORE • YEAR END 2019


MAP | EAST SHORE LAKE TAHOE 1. Stateline 2. Zephyr Cove 3. Skyland 4. Cave Rock

5

5. Glenbrook 6. Kingsbury Grade

4

3

2

6

1

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EAST SHORE market update 5 YEAR TRENDS The East Shore on the Nevada side of Lake Tahoe, is rich with pines and features dramatic cliffs, sandy beaches, crystal blue waters, and spectacular panoramas. The most inhabitable side of Lake Tahoe’s East Shore is located along Highway 50 between Glenbrook and Stateline, Nevada. Its proximity to Carson City and South Lake Tahoe provides convenient access to airports, shopping, nightlife, dining and world-class outdoor recreation. Ski at Vail owned Heavenly Mountain, or enjoy a round of golf at Edgewood Tahoe, home of the annual American Century Celebrity Golf Tournament.

January through December Median Price Properties Sold

2015

2016

2017

2018

2019

$502,500

$531,250

$517,000

$642,500

$635,000

166

210

212

228

221

With crystal clear waters, giant boulders and sandy beaches, East Shore is regarded by locals as a favorite place to swim, kayak, paddlebaord and explore Tahoe’s shoreline in the summertime. Homes range from some of Tahoe’s earliest built cabins that have been passed down for generations to sprawling gated estates with expansive waterfront access. East Shore landmarks include the iconic drive-through Cave Rock and Zephyr Cove Resort. Enjoying enchanting sunsets is just one element that makes homes here among the most desired in Tahoe. Custom-built, architecturally striking residences are prized for their views and location on the lake’s shores, or the cliffs towering above. If seeking to be embraced by the stunning outdoors with ethereal vistas explore Lake Tahoe’s East Shore.

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Based on Information from the regional MLS as of Jan 1, 2020 and representation is based in whole or in part on data supplied by the MLS. Data maintained by regional MLS may not reflect all real estate activity in the market.

MICROMARKET REPORT | East Shore JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


LAKEFRONT | Single Family January through December

2018

2019

% Change

Median Price

$5,710,000

$4,550,000

-20%

Average Sold Price

$6,195,033

$4,790,833

-23%

352

127

-64%

Highest Sold Price

$13,145,000

$5,995,000

-54%

Lowest Sold Price

$2,600,000

$4,250,000

63%

15

6

-60%

97%

97%

0%

$92,925,500

$28,745,000

-69%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

54% The highest priced lakefront sale on the East Shore in 2019 was $5,995,000 as compared to $13,145,000 the previous year.

LAKEFRONT/NON-LAKEFRONT | Condo January through December

2018

2019

% Change

Median Price

$437,000

$444,000

2%

Average Sold Price

$494,596

$529,544

7%

103

101

-2%

Highest Sold Price

$2,000,000

$2,795,000

40%

Lowest Sold Price

$185,000

$190,000

3%

100

85

-15%

97%

98%

1%

$49,459,620

$45,011,270

-9%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Pictured: 550 Sierra Sunset Lane | $39,900,000

7% Average sale price for condos on the East Shore was $529,544, a 7% improvement year-over-year.

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ALL NON-LAKEFRONT | Single Family January through December

2018

$780,000

$900,000

15%

Average Sold Price

$964,285

$1,165,839

21%

150

173

15%

Highest Sold Price

$3,700,000

$5,600,000

51%

Lowest Sold Price

$300,000

$300,000

0%

113

130

15%

96%

95%

-1%

$108,964,250

$151,559,075

39%

Properties Sold % Sold Price to Average List Price

Glenbrook is where Mark Twain purportedly stood gazing upon Lake Tahoe, stating in his 1871 work Roughing It, that it was “the fairest picture the whole earth affords.”

% Change

Median Price

Average Days on Market

Pictured: Edgewood Tahoe Golf Course

2019

Total Dollar Volume Sold

GLENBROOK | Single Family January through December

2018

Median Price

$1,755,000

$2,475,000

41%

Average Sold Price

$1,972,000

$2,708,788

37%

263

380

44%

Highest Sold Price

$2,720,000

$5,450,000

100%

Lowest Sold Price

$1,335,000

$1,000,000

-25%

5

9

80%

97%

95%

-2%

$9,860,000

$24,379,100

147%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

2019

% Change

Pictured: Glenbrook, Nevada

MICROMARKET REPORT | East Shore sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


SKYLAND | Single Family January through December

2018

2019

% Change

$1,092,500

$1,375,000

26%

$1,077,194

$1,537,460

43%

162

239

48%

Highest Sold Price

$1,654,000

$5,600,000

239%

Lowest Sold Price

$355,000

$383,000

8%

18

24

33%

97%

95%

-2%

$19,389,500

$38,436,500

98%

Median Price Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

26% Median home price in Skyland in 2019 was $1,375,000, a 26% improvement from 2018.

ZEPHYR COVE/ROUND HILL | Single Family January through December

2018

2019

% Change

Median Price

$770,000

$960,000

25%

Average Sold Price

$933,496

$1,113,011

19%

141

144

2%

Highest Sold Price

$2,300,000

$2,700,000

17%

Lowest Sold Price

$474,000

$500,000

5%

28

42

50%

96%

94%

-2%

$26,137,900

$46,746,500

79%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Pictured: 1266 Tamarack Drive | $8,495,000

Pioneers Kit Carson and John Fremont first discovered Zephyr Cove in 1844. Soon after, silver was struck in the surrounding Sierra Nevada range, inspiring fortune hunters to settle in the area.

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STATELINE / KINGSBURY GRADE January through December

2018

2019

% Change

Median Price

$740,000

$640,500

-13%

Average Sold Price

$872,489

$772,428

-11%

144

129

-10%

Highest Sold Price

$3,700,000

$2,435,000

-34%

Lowest Sold Price

$300,000

$300,000

0%

61

56

-8%

96%

96%

0%

$53,221,850

$43,255,975

-19%

Average Days on Market

Pictured: Stateline, NV

10%

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Days on market fell 10% for the Stateline neighborhood in 2019 with homes selling on average in 129 days.

MICROMARKET REPORT | East Shore sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


The life you love.

sierrasothebysrealty.com | tahoemicroreports.com Based on Information from Regional MLS. This representation is based in whole or in part on data supplied by Regional MLS. Regional MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Regional MLS may not reflect all real estate activity in the market.

Profile for Sierra Sotheby's International Realty

East Shore Lake Tahoe 2019 Year End Real Estate Report  

2019 Year End real estate market stats for the East Shore of Lake Tahoe including Zephyr Cove, Glenbrook, Cave Rock, Stateline and Kingsbury...

East Shore Lake Tahoe 2019 Year End Real Estate Report  

2019 Year End real estate market stats for the East Shore of Lake Tahoe including Zephyr Cove, Glenbrook, Cave Rock, Stateline and Kingsbury...