March 2020 NV East Shore Update

REAL ESTATE UPDATE LAKE TAHOE

We had 16 residential home/condo sales on the Nevada East Shore during March. A 23% increase from the 13 sales in March of 2019. The median sales price also increased from $900,000 to $1,190,000 for residential home sales yet the average days on market declined from 223 days last year to 142 days. For those curious if any properties were withdrawn from the market there were 16 withdrawn this year as compared to only 7 in March 2019. Agents are finding other ways to show your property at this time. I have been using video for my listings as well as for buyers not wanting to venture inside our current listings. I am also wearing gloves at this time and have noticed owners placing sanitizer near their front doors for everyone’s use. Be safe everyone. Learn more by visiting RealEstateLakeTahoeStiles.com for more information. Call 775-309-8454 to schedule an appointment.

NV East Shore Real Estate Update

REAL ESTATE UPDATE LAKE TAHOE

There were 9 residential home sales on the Nevada East Shore in February as compared to 13 last year. The median sales price hovered around $890,000 – same as last year. The days on market however declined from 201 days in 2019 to 145 in 2020. Five of the sales occurred along the Kingsbury Grade area with 2 at Round Hill, and 1 each at Zephyr Heights and Skyland. There were an additional 5 condo/townhome sales as compared to 6 last year. Nothing changes if nothing changes, they say however if you decide to sell your residence and are looking for an experienced local agent with 25 years of experience, I’d be happy to help. Robert Stiles, REALTOR® NV BS.1001136 CHASE INTERNATIONAL 530-314-0352 / 775-309-8454

Nevada East Shore Year End Real Estate Preview

REAL ESTATE UPDATE LAKE TAHOE

The Nevada East Shore real estate market heated up in 2019.  Thus far we’ve experienced 25% more single family residential sales than during 2018.  The increase in numbers from 106 to 133 units does not include 6 lakefront sales.  The median sales price for the area also increased 13.9% to $900,000.  Days on market to sell a home declined by 15%.  I’m seeing an increase in the number of families wanting to leave California.  Happy Holidays! 

Year End Real Estate Preview

South Lake Tahoe Welcome Sign

It is slowing down a bit in the South Lake Tahoe real estate market but primarily within the county area.  While the number of sales in the past 12 months within the city limits stayed steady near 350 we had a 20% drop in the number of sales in our county areas along the N. Upper Truckee and Pioneer Trail corridor.  I noticed quite a few vacation rental home sales this year. I wonder if the city maintained 2018 sales numbers because of Proposition T which bans vacation rentals outside of the tourist corridor at the end of 2021?  Days on market for both areas however stayed near 2018 levels at 79 which tells me urgency levels have been sustained.  Sales prices increased 5.4% within the city limits while county areas received an increase of only 3.9%.  I would have thought county levels would increase higher in value along with an increase in the number of sales but that was not the case.  There have been 226 county sales within the Tahoe Basin in the last 12 months.  Final numbers for all of Lake Tahoe areas should arrive before mid-January. Happy Holidays!

NV East Shore October Update

REAL ESTATE UPDATE LAKE TAHOE

October’s median sales price for single family residences on the NV East Shore was $1,000,000.  Days on market averaged 111.  The lowest priced unit sold was located on Tina Ct for $499,000.  The highest was in the Glenbrook community for $5,450,000.  Most of last month’s sales occurred in the mid Kingsbury and Zephyr Heights communities.  There were a total of 15 sales last month.  This compares to only 10 residential units sold last year at this time with a median sales price of $778,750.

South Lake Tahoe October Sales Update

South Lake Tahoe Welcome Sign

October’s median sales price for both city and county areas backed off from last month’s annual high to $480,000.  We’ve bounced off this level 3 times since April 2019.  For a look at the median sales price for each neighborhood along with the average days on market and the number of units sold see below.