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MICROMARKET REPORT |

SOUTH LAKE TAHOE • YEAR END 2019


MAP | SOUTH LAKE TAHOE

8

1 7

3 1

Tahoe Keys

2 Montgomery Estates 3 Cascade Properties 4 Pioneer Trail

6 4 9

5 Meyers 2

6 Y Area 7 Heavenly Valley 8 Stateline 9 Fallen Leaf Lake

10 5

10 Country Club Estate

Pictured on cover: Fallen Leaf Lake

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SOUTH LAKE TAHOE market update 5 YEAR TRENDS Thriving, action-packed South Lake Tahoe is home to the largest year-round community around Lake Tahoe’s 72-mile shoreline and straddles the California-Nevada border.

January through December Median Price Properties Sold

2015

2016

2017

2018

2019

$357,500

$400,000

$430,000

$455,000

$475,000

700

792

761

712

666

With a bevy of gaming, world-class skiing, dining, nightlife and a staggering amount of outdoor recreation, there’s never a shortage of entertainment or things to do in South Lake Tahoe. The heart of South Lake is Heavenly Lake Tahoe, among the Vail Resorts family of ski resorts. The largest alpine resort in Tahoe, Heavenly boasts 4,800 acres of skiable terrain spanning both the California and Nevada state line. Heavenly boasts expansive backcountry, the most vertical feet on the west coast, and the highest elevation resort in Tahoe at 10,067 feet. Gaming and entertainment venues bookend Highway 50, running through the center of town. Each July, the American Century Championship celebrity golf tournament captivates star-struck bystanders and golfers at the lakeside iconic Edgewood Tahoe Golf Course, the George Fazio designed designed course is rated one of “America’s top golf courses” by Golf Digest. Dining is exceptional, with restaurants such as Gordon Ramsey’s Hell’s Kitchen joining longstanding local favorites and the area’s burgeoning culinary scene. Mouthwatering beers at ubiquitous brewpubs in South Lake Tahoe can be found on the South Tahoe Beer Trail map, with a multitude of diverse breweries within the city’s 16-mile expanse.

sierrasothebysrealty.com

Based on Information from the South Tahoe Association of Realtors MLS as of Jan 1, 2020. This representation is based in whole or in part on data supplied by South Tahoe Association of Realtors MLS. South Tahoe Association of Realtors MLS does not guarantee nor is in any way responsible for its accuracy.

MICROMARKET REPORT | South Lake Tahoe JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


ALL LAKEFRONT | Single Family January through December

2018

2019

% Change

Median Price

$857,500

$2,250,000

162%

Average Sold Price

$857,500

$2,921,955

241%

258

88

-66%

Highest Sold Price

$975,000

$5,800,000

495%

Lowest Sold Price

$740,000

$344,000

-54%

2

11

450%

98%

96%

-2%

$1,715,000

$32,141,500

1774%

Average Days on Market

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

ALL NON-LAKEFRONT | Single Family January through December

2018

Median Price

2019

% Change

$466,500

$495,000

6%

$563,111

$587,167

4%

106

111

5%

Highest Sold Price

$5,500,000

$12,100,000

120%

Lowest Sold Price

$187,000

$850,000

355%

654

646

-1%

95%

97%

2%

$368,274,487

$379,309,832

3%

Average Sold Price Average Days on Market

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

495%

The highest priced lakefront sale for South Lake Tahoe in 2019 was was up 495% from $975,000 to $5,800,000.

4% Average non-lakefront home price in South Lake Tahoe was up 4% in 2019 for an average of $587,167

LAKEFRONT | Condo January through December

2018

2019

% Change

Median Price

$519,400

$359,000

-31%

Average Sold Price

$694,390

$477,369

-31%

136

75

-45%

Highest Sold Price

$2,600,000

$1,225,000

-53%

Lowest Sold Price

$235,000

$210,000

-11%

20

13

-35%

95%

96%

1%

$13,887,800

$6,205,800

-55%

Average Days on Market

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

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NON-LAKEFRONT | Condo January through December

2018 $337,250

$365,000

8%

Average Sold Price

$439,331

$452,201

3%

121

146

21%

Highest Sold Price

$1,700,000

$1,389,000

-18%

Lowest Sold Price

$125,000

$139,000

11%

112

75

-33%

97%

97%

0%

$49,205,126

$33,915,085

-31%

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

Average sold price in the Tahoe Keys increased by 13% in 2019 from $1,004,105 to $1,135,711.

% Change

Median Price

Average Days on Market

13%

2019

TAHOE KEYS | Single Family January through December Median Price

2018

2019

% Change

$861,500

$881,500

2%

$1,004,105

$1,135,711

13%

138

122

-12%

Highest Sold Price

$2,750,000

$5,300,000

93%

Lowest Sold Price

$450,000

$421,000

-6%

58

56

-3%

94%

96%

2%

$58,238,075

$63,599,800

9%

Average Sold Price Average Days on Market

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

TAHOE KEYS | Condo January through December

2018

2019

% Change

Median Price

$469,000

$464,000

-1%

Average Sold Price

$445,843

$544,792

22%

102

126

24%

Highest Sold Price

$655,000

$1,225,000

87%

Lowest Sold Price

$240,000

$310,000

29%

23

12

-48%

98%

94%

-4%

$10,254,400

$6,537,500

-36%

Average Days on Market

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

MICROMARKET REPORT | South Lake Tahoe sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


SOUTH LAKE TAHOE CITY | Single Family January through December

2018

2019

% Change

Median Price

$435,000

$451,000

4%

Average Sold Price

$540,491

$625,278

16%

105

112

7%

Highest Sold Price

$2,750,000

$12,100,000

340%

Lowest Sold Price

$202,500

$175,000

-14%

327

367

12%

96%

97%

0%

$176,740,590

$229,477,170

30%

Average Days on Market

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

Sierra Sotheby’s International Realty represented the buyer for the highest reported sale in this region in 2019. The transaction closed for $12,100,000.

SOUTH LAKE TAHOE COUNTY | Single Family January through December

2018

2019

% Change

Median Price

$520,000

$549,000

6%

Average Sold Price

$570,973

$584,601

2%

97

103

6%

Highest Sold Price

$2,425,000

$1,700,000

-30%

Lowest Sold Price

$206,000

$227,000

10%

277

237

-14%

98%

97%

0%

$158,159,397

$138,550,512

-12%

Average Days on Market

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

SOUTH LAKE TAHOE CITY & COUNTY | Condo January through December

2018

2019

% Change

Median Price

$390,000

$354,000

-9%

Average Sold Price

$508,638

$483,411

-5%

107

101

-6%

Highest Sold Price

$2,600,000

$1,389,000

-47%

Lowest Sold Price

$125,000

$150,000

20%

108

64

-41%

96%

97%

1%

$54,932,926

$30,938,335

-44%

Average Days on Market

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

Spanning both the California and Nevada state line, Heavenly Lake Tahoe is the largest alpine resort in Lake Tahoe boasting 4,800 acres of skiable terrain and a vibrant resort village.

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The life you love.

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

Profile for Sierra Sotheby's International Realty

South Lake Tahoe 2019 Year End Real Estate Market Report  

2019 Year End real estate market statistics for South Lake Tahoe including the Tahoe Keys, Meyers, Stateline, The Y, Fallen Leaf Lake, Heave...

South Lake Tahoe 2019 Year End Real Estate Market Report  

2019 Year End real estate market statistics for South Lake Tahoe including the Tahoe Keys, Meyers, Stateline, The Y, Fallen Leaf Lake, Heave...