Coronavirus and the Lake Tahoe Real Estate Market

Posted by Jackie Ginley on Thursday, April 9th, 2020 at 11:45am.

Lake Tahoe's North & West Shore poised for solid April Real Estate Sales

On the California side of the Lake, the pace of sales was stronger in the 1st quarter of 2020 than it had been in 2019, and the median sales price of a single family home on the North & West Shore rose 4 percent to $670,000. 

Lake Tahoe Real Estate Market Stats

Overall sales volume was down 25 percent over the same period in 2019. But those numbers were heavily slanted by one whopper of a sale – Mark Zuckerberg’s $37 million purchase of the Brushwood Estate (pictured below) in January of 2019, which accounted for two-thirds of last year's 1st Quarter sales volume.

Mark Zuckerberg's Lake Tahoe Estate

By the first week of April, we had 18 homes under contract at the Lake, a few of which had accepted offers after the state shutdowns.  If those sales move forward and close, Lake Tahoe's North and West Shores are poised to enjoy a stronger April this year than last. (Click here for a link to Market Data on Incline Village, Nevada)

While the shutdowns have inspired some sellers to temporarily withdraw their homes from the market, we have seen 12 homes come up for sale at the Lake since the mid-March closure of Tahoe’s ski resorts.  Among the new listings is a rare offering on the Westshore’s Sunnyside Lane that features an expansive main house with guest house and an indoor/outdoor pool (Asking $8.5 million):

Click Here for Listing Details

Sunnyside Lane Home for Sale

Some Off-Market Gems Can Still Be Shown

If you are considering a place at the Lake, please call or text me at 775-391-9443 for additional information on off-market properties. A number attractive properties have been temporarily off market, but are still available to show and sell. Among them is this charming lakefront cabin near Meeks Bay priced at just $2 million. ~ Jackie

Meeks Bay Lakefront Home for Sale

 

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