Year End Real Estate Preview

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!

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