2018 Sales Talk at South Lake Tahoe

Stateline NV

We’re starting to see additional lower priced units come on the market at South Lake.  It seems stock market jitters are beginning to scare some folks out of the real estate market.  On the Nevada East Shore we’re seeing market value declines but with quite a few sellers still sticking to their list price due to lack of inventory.  The next few months should be telling for both areas.

I also hope to have all 2018 stats from around the lake within the next few weeks.  For right now looking at the raw numbers, the NV East Shore had a 35% increase in total sales volume this year climbing from $150M to $202M.  The number of units sold increased 23% over 2017 figures, while the median sales price of those units declined by 9% to $815,000.
At South Lake Tahoe dollar volume declined 5% from $362M to $344M.  The number of units sold in 2018 also declined by 9% to 620.  The Measure T agenda regarding short term rentals looks to have taken its toll on both buyers and sellers.  The median sales price for South Lake still managed to increase 6% to $466,500.  More to come soon.

South Lake Tahoe Condominiums

tahoe keys

Condominium owners at South Lake Tahoe also had a good year.  The median sales price of the 105 units sold in 2018 increased 14% to $513,000. The majority of sales occurred in the Tahoe Key’s and Lakeland Village communities.  Waterfront communities dominate in pricing over the inland communities.  Average days on market was similar to last year at 103 days.

Nevada East Shore Condominiums

Lake Village Nevada

Condominium owners on the Nevada East Shore had a good year.  The median sales price of the 99 units sold in 2018 increased 17% to $439,000.  The majority of sales occurred in the Villages located at the top of the Kingsbury Grade.  While Lake Village had a significant decline in sales this year, Pinewild doubled the number of units sold in 2018.  Average days on market also declined significantly to 103 days.

National Radon Action Month

Radon

January is National Radon Action Month.  The University of Nevada Cooperative Extension’s Radon Education Program is offering free short-term radon test kits.

Radon is a naturally occurring, radioactive gas that is colorless, odorless and tasteless.  It rises from the ground, accumulates in homes, and can raise your risk of lung cancer.   A simple three-day test kit will be available at the Douglas County Cooperative Extension offices from January 2nd through February 28th.  They are located at 1325 Waterloo Ln at Gardnerville .

SnowGlobe – South Lake Tahoe

snowglobe

The eighth annual SnowGlobe will get underway Saturday.  The three-day electronic music festival brings more than 40 acts and thousands of event-goers to South Lake Tahoe each year.

The event is held at the community ball fields near Lake Tahoe Community College.  Al Tahoe Boulevard will be closed to through traffic starting one hour before the start of the festival and finishing one hour after the festival each evening.

The annual SnowGlobe Music Festival was acquired by MTV last month.  “SnowGlobe stands out with a unique mix of music, sports, and art that makes it a favorite among artists and its growing audience,” Chris McCarthy, president of MTV, said in a statement.

This year’s lineup includes Above & Beyond, Diplo, Eric Prydz, Rezz and RL Grime headlining among more than 40 artists.  SnowGlobe will also showcase extreme winter sports demonstrations.